The archive · Money & Fintech · Product decision · 2024–2026
Deblock: ex-Revolut/Ledger execs' on-chain bank, €30M Series A
Paris-founded on-chain bank, 300k users in France, raised €30M Series A for Germany.
Deblock
What the business is
Deblock builds an 'on-chain bank': it combines a euro current account and a user-held self-custody crypto wallet in one app, with everyday payments, savings (Vaults), and DeFi all in the same interface; funds are self-custodied rather than held by the platform.
How it started
Founded in France in 2024 by former Revolut and Ledger executives Aaron Beck, Adriana Restrepo, Jean Meyer, and Mario Eguiluz, launched in April 2024. Deblock was among the first products to integrate a real crypto wallet into a current account, receiving electronic money institution (EMI) authorization from the French central bank system ACPR, and obtaining the industry's first MiCA crypto asset license from the AMF.
What happened
After 18 months of launch, users exceeded 300,000. In November 2025, it completed a €30M Series A: led by Speedinvest, with CommerzVentures and Latitude following, and existing shareholders 20VC, Headline, Chalfen Ventures, and Kraken Ventures participating. The company then prepared to enter Germany as its second core market and planned Italy in 2026, where it already had 5,000+ early users.
How it ended up
Still expanding: as of September 2026, Deblock is based in France with 300,000+ users, is entering Germany, and plans Italy in 2026; the Series A is being spent on localized teams and German-language/Italian-language customer service.
Background
Deblock was founded in France in 2024, and the founding team is former Revolut and Ledger executives Aaron Beck, Adriana Restrepo, Jean Meyer, and Mario Eguiluz. The product puts a euro current account and a user-held crypto wallet in the same app: everyday payments, savings Vaults, investing, and DeFi are all in the same interface; funds are self-custodied, and the platform does not hold them. It launched in France in April 2024 and was among the first products to integrate a real crypto wallet into a current account.
Compliance is part of its entry point: the company received electronic money institution (EMI) authorization from France's ACPR, and obtained the industry's first MiCA crypto asset license from the AMF, making 'compliant bank + self-custody crypto' viable within a single entity. After 18 months of launch, users exceeded 300,000.
In November 2025, Deblock completed a €30M Series A: led by Speedinvest, with CommerzVentures and Latitude following, and existing shareholders such as 20VC, Headline, Chalfen Ventures, and Kraken Ventures participating. The use of funds is European expansion: Germany is the second core market (localization plus German-language customer service), and Italy is planned for 2026, where it already has 5,000+ early users.
The bet is the next-generation banking experience: Speedinvest's interpretation is that 'the first generation was mobile-first neobanks running on old rails, while Deblock represents a programmable, user-self-controlled on-chain platform.' As of September 2026, the company is still expanding and has not disclosed profitability; in the same track, Tangany, Agio Ratings, OpenTrade and others also raised funding in 2025, and the European on-chain banking track is heating up overall.
What has to be true
- Regulatory licenses are a moat: EMI authorization plus the first MiCA license gives Deblock a lead on the compliance dimension, and later entrants must repeat the approval process.
- Demand validation comes first: it first reached 300,000 users in a single French market, then raised €30M to expand—the expansion sequence is demand-driven rather than capital-driven.
- The founding team's domain knowledge directly constitutes the wedge: Revolut's banking experience and Ledger's self-custody experience are exactly the two core components of this product.
- The bet is on user behavior migration: the MiCA framework makes on-chain assets compliant, and users move from centralized exchanges and dual wallets to a single compliant account.
What can be applied
Combining bank compliance and self-custody wallets into one product can be differentiation; licenses and 300k users validated demand before expansion.
Aftermath
As of 2026-09-01: Deblock remains a French-registered electronic money institution, holds the AMF's MiCA license, and has 300,000+ users; after the Series A, it is expanding into Germany as planned (localized product plus German-language customer service), and has announced entry into Italy in 2026 (with 5,000+ early users already there). The company's stated next step is European scaling of a 'full on-chain bank'; it has not disclosed profitability or further funding. In the same track, Tangany, Agio Ratings, OpenTrade and others were also raising in 2025, and the track is heating up overall.
Sources
- Deblock secures €30M Series A to expand on-chain banking in Europe
- France's Deblock picks up €30 million for unified euro and crypto banking platform
- Fintech, crypto-bank Deblock raises €30 million
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