TL;DR
- Bleap, a blockchain banking startup, raised $2.3 million in a pre-seed funding round led by Ethereal Ventures to develop its self-custodial stablecoin payments app.
- Founded by former Revolut employees, Bleap aims to combine blockchain technology with traditional banking features, offering a self-custodial wallet integrated with a Mastercard debit card.
- Currently in beta testing, Bleap plans a full public launch in Q1 2025 and intends to introduce its own token in 2026, aiming to revolutionize blockchain banking.
Bleap, a pioneering blockchain banking startup, has successfully raised $2.3 million in a pre-seed funding round. This significant investment, led by Ethereal Ventures, aims to support the development of Bleap’s self-custodial stablecoin payments app. The funding round also saw participation from Maven11, Alliance DAO, Robot Ventures, and several angel investors, including key executives from Revolut, Phantom, OKX, EigenLayer, and Consensys.
We’ve raised $2.3M in pre-seed funding to build Bleap—a bank on the blockchain! 🚀
The round was led by @etherealvc, with participation from @Maven11Capital, @alliancedao, @robotventures, @CrediblyNeutral , and other amazing investors who share our vision of a better financial… pic.twitter.com/xR2cdNsIiO
— Bleap | web3 card 💳 (@BleapApp) November 28, 2024
Founders’ Vision
Founded by former Revolut employees Joao Alves and Guilherme Gomes, Bleap is positioned as a “bank account on the blockchain.” The app is designed to combine the power of blockchain technology with the best features of traditional banking. Alves, who previously led Revolut’s card program, emphasized the goal of creating a radically better banking app.
Key Features of Bleap
Bleap’s self-custodial wallet is integrated with a Mastercard debit card, enabling users to spend stablecoins directly in the real world without conversion fees. The application offers multi-currency accounts that feature savings rates considerably better than those found at conventional banks.
Users can add stablecoins from external wallets or purchase them using fiat, and the app also allows fee-free crypto on- and off-ramping. Built on the Ethereum Layer 2 network Arbitrum, Bleap enables fast, gasless transactions and replaces traditional seed phrases with cloud storage and social logins. This innovative approach leverages PortalHQ’s Multi-Party Computation technology to enhance security and user experience.
Future Plans
Currently in beta testing with select European users, Bleap plans a full public launch in Q1 2025. The platform also intends to introduce its own token in 2026. The founders believe that blockchain technology is the foundation for the future of finance and are committed to making Bleap a leading player in the industry.
Bleap’s successful funding round and innovative approach to blockchain banking highlight the growing interest and potential in the sector. With its unique features and strong backing from prominent investors, Bleap is well-positioned to revolutionize the way people interact with digital currencies and traditional banking services.
