Geneva, Switzerland and New York, NY – December 22, 2023 – Allegory Capital proudly announces its role as the lead investor in the upcoming $7.1 million Series A funding round for Unblock, a trailblazing blockchain fintech company operated by Atomo Sàrl. This strategic investment accelerates Unblock’s mission to revolutionize digital payments through cutting-edge blockchain technology.
Unblock, a fully regulated Virtual Asset Service Provider (VASP) under the Swiss Financial Market Supervisory Authority (FINMA), offers a comprehensive platform for buying, selling, transferring, and exchanging digital assets. With support for a wide range of digital assets, Unblock empowers users to manage their financial transactions with unparalleled ease and security.
Innovative Cross-Border Payment Solutions Unblock has developed a sophisticated cross-border payment and remittance platform that leverages blockchain technology and digital assets. This platform provides an entirely transparent experience for users, utilizing traditional credit card payments and banking systems. With over 20 years of experience in the financial industry, Unblock’s team specializes in compliance, KYC development, and managing funds on a PCI Level 1 compliant platform.
Pioneering Fintech Services Over the past five years, Unblock has created a cross-border payments platform that seamlessly bridges traditional finance and blockchain technology. The company offers a frictionless, agile, and reliable solution for consumers and businesses to pay, get paid, and transfer digital currency.
Operating out of Switzerland, Unblock is licensed by VQF SRO (member 100977) to function as a Virtual Asset Service Provider, Financial Intermediary, and Card Issuer. It is the first non-bank entity to become a principal member of Mastercard. Unblock also has licensed subsidiaries in Spain, El Salvador, Costa Rica, and the US, where it holds a FinCEN Registration, a Money Transmitter License in Florida, and operates nationwide through Custodial Accounts with FI Partners. Key offerings include:
- Unblock App: A digital wallet for consumers, allowing them to load wallets via cards, bank transfers, and alternative payments, transfer funds within the network, and to any other crypto wallet using blockchain technology.
- Unblock Card: This crypto-backed debit card from Mastercard, currently in development, uses funds in the Unblock wallet. It allows users to spend their funds wherever Mastercard is accepted and enables merchants to implement traditional payroll services.
- Unblock Crypto Bridge: A platform enabling merchants to accept digital currency for goods and services, integrating into the merchant’s website and offering payment options through Unblock funds, other crypto wallets, or traditional card payments via a secure PCI Level 1 Compliance Web Hosted Page.
Financial Growth and Future Expansion Since its launch in Switzerland at the end of Q4 2023, the Unblock App has already garnered over 1,000 active users. While growth and revenues are currently limited due to a lack of funds for large-scale marketing campaigns and further development, the potential for expansion remains significant.
The Crypto Bridge business vertical is set to begin operations in the US, with agreements to serve high-risk yet regulated industries, such as Gaming and Gambling. This could lead to substantial monthly transactions and significant revenue generation. However, additional capital is necessary to sustain ongoing growth.
Strategic Investment Needs To realize its full potential, Unblock requires funding to complete the card program, develop proprietary blockchain infrastructure, enhance the remittance program in Colombia, and execute its commercial strategy. This funding will support staff expansion, marketing efforts, and strategic partnerships.
Vision for the Future Completing the platform, launching the card program, expanding into Spain, and implementing a robust commercial strategy is pivotal to Unblock’s success. Securing the necessary capital is critical, as it will enable the finalization of these projects and broaden market reach, positioning Unblock to seize substantial business opportunities.
Join Us in Shaping the Future of Fintech Allegory Capital invites investors to join us in this transformative venture. Investing in Unblock supports a pioneering company at the forefront of financial innovation, dedicated to redefining digital transactions.
For more information about investment opportunities, please contact:
About Allegory Capital: Allegory Capital is a premier investment firm that supports groundbreaking technologies and businesses in regulated industries. Our mission is to drive growth and innovation in the financial sector by backing visionary entrepreneurs and companies. Known for several successful exits in digital health, this venture with Unblock marks the launch of our fintech line, with many more to come.
About Unblock (Atomo Sàrl) Unblock is a blockchain fintech platform based in Geneva, Switzerland. It offers a simple, agile, and reliable solution for managing digital assets. With a vision to make digital transactions seamless, Unblock combines the security of blockchain technology with the convenience of traditional banking.
For more information, visit Unblock’s Website.
Media Contact: Haider Alleg
General Partner
Allegory Capital
haider.alleg@allegory.capital
Chem. du Vernay 14a, 1196 Gland, Switzerland
Unblock Contact: Oscar Flores
CEO
Unblock (Atomo Sàrl)
oscar@unblock.ch
141 Rue de Lausanne, 1202 Geneva, Switzerland
