Non-custodial debit card startup Bleap led by Revolut alumni raises $2.3m

Bleap, a crypto startup founded by former Revolut employees, has raised $2.3 million to make it easier to spend cryptocurrency with debit cards.

Bleap, a UK-based blockchain startup developing a wallet-connected debit card, has raised $2.3 million in pre-seed funding led by Ethereal Ventures, according to a Nov. 28 announcement on X. Other backers include Maven11, Alliance DAO and Robot Ventures. , Credively Neutral and angel investors. With the financing, the startup’s valuation reached $10 million.

Bleap’s Mastercard-affiliated card allows users to spend stablecoins without conversion fees and offers up to 2% cashback. From an on-chain perspective, the startup leverages Arbitrum (ARB), an Ethereum layer-2 solution, and multi-party computation for wallet access.

Bleap will expand its services under MiCA regulations

Founded by Joao Alves and Guilherme Gomes, Bleap is registered as a virtual asset service provider in Poland. The startup plans to expand under Europe’s MiCA regulations and enter Latin America by 2025. Currently in beta, Bleap aims for a full launch in the first quarter of 2025, with token distribution in 2026.

In September, Mastercard announced that European crypto users can now spend Bitcoin (BTC) and other tokens stored in personal custody wallets via the newly launched Spend debit card. Created in partnership with crypto payment provider Mercuryo, the card connects to an account in euros, allowing users to pay for goods and services at more than 100 million merchants worldwide.