Our Portfolio Company BLOCKMATE Secures 1.5 million Euro Investment! DEPO Is on Board as a Follow-on
Providing analytical insights into the world of digital assets and becoming a bridge between the cryptocurrency and traditional finance worlds is the goal of the Czech-Slovak startup Blockmate. They are developing a new generation of solutions for secure and consolidated financial services. They have now secured an investment totaling 1.5 million euros (approximately 36 million Czech korunas) from seven investors. The largest portion, amounting to 760,000 euros, will come from Seed Starter of Česká a Slovenská spořitelna. Among other investors are investment funds Tensor Ventures, DEPO Ventures, Token Ventures, BADideas.fund, ZAKA Ventures, and Diaspora Ventures. This investment marks a significant milestone for the company, enabling them to continue connecting cryptocurrencies, digital assets, and traditional finance.
"This investment round allows us to accelerate our efforts to revolutionize financial services and bridge these sectors. We firmly believe that this partnership represents a unique opportunity for innovation and growth, both for users and financial institutions," says Andrej Coplák, co-founder and CEO of Blockmate.
"We cannot ignore digital assets and cryptocurrencies, as tens of thousands of banking clients in the Czech Republic are trading with them, and the monthly trading volumes are around 200 million korunas. Spořitelna's goal is to improve the financial health of clients and cultivate an environment in which transactions with digital assets occur. That's why we are financially supporting the Blockmate startup, which will provide clients trading digital assets with a secure tool to track their digital assets and related transactions," says Jiří Skopový, leader of the Seed Starter program at Česká spořitelna, adding, "Blockmate is not a platform through which clients can directly trade digital assets and cryptocurrencies. However, it will offer clients a comprehensive view not only of their digital assets but also of their entire financial portfolio, including standard banking products, thus enhancing clients' ability to manage their personal finances in a healthy way."
"We believe that Blockmate has real potential to connect cryptocurrencies with the world of traditional finance and make trading accessible to everyone. The highly professional team has shown us since our first investment that they are capable of fulfilling this vision. Therefore, we did not hesitate to support them again," comments Petr Šíma, partner at DEPO Ventures.
Transaction analytics and integration with traditional banking Blockmate's goal is to provide analytical insights into the world of digital assets and connect it with open banking. Through its platform, it offers the ability to onboard over 300 million users, advanced analytics, risk assessment, interaction with crypto portfolios, and a range of other financial functions. Furthermore, Blockmate's technology uses the Open Banking standard to connect millions of cryptocurrency users with over 25,000 existing fintechs that already use this standard in their solutions.
Several major players have invested in the startup in this round, such as Seed Starter, the corporate venture capital program of the Erste Group. Additionally, investment funds Tensor Ventures and DEPO Ventures, who continue their support in the second investment round – they invested in Blockmate during the pre-seed round last year, raising a total of half a million euros. For the first time, investors Token Ventures, BADideas.fund, ZAKA Ventures, and Diaspora Ventures have joined.
"As Tensor Ventures, we build bridges between the technological and business worlds, just as Blockmate connects cryptocurrencies with traditional financial services. We have been working with the team for a long time, and we believe they will go far. We are investing in them for the second time, and this time we also ensured that representatives from the world of large banking institutions, such as Česká spořitelna and their investment fund, learn about the project," says Roman Smola, partner at Tensor Ventures.