norbloc is a company.
norbloc has raised $2.0M across 1 funding round.
Key people at norbloc.
norbloc has raised $2.0M in total across 1 funding round.
Norbloc is a Stockholm-headquartered fintech company founded in 2016 that builds blockchain-based platforms to streamline KYC (Know Your Customer) and KYB (Know Your Business) compliance for financial institutions and governments.[1][2][4][5] Its core products—Sancus for digital onboarding and data collection, Atlas for internal data sharing, and Fides for secure inter-institutional sharing—address duplication of efforts and lack of digitization in regulated data handling, promising 30-40% cost savings while ensuring GDPR compliance.[1][2][4] Serving major banks like HSBC, Standard Chartered, Citibank, ING, and Emirates NBD, Norbloc has achieved cash positivity, accelerated commercial traction, and powers the largest KYC blockchain consortium in MENA, positioning it as a leader in compliant data-sharing networks.[3][4][5]
Norbloc was co-founded in 2016 by CEO Astyanax Kanakakis, with a background in computing, finance, and consulting, and Chief Architect Vitalii Demianets, a blockchain and DLT expert, who met while working as COO and lead architect at a Bitcoin mining company.[2][4] Motivated by the inefficiencies in KYC data sharing amid rising blockchain adoption, they launched in Stockholm, quickly expanding with a development hub in Athens and a commercial office in Dubai.[1][4] Early milestones included raising $1.6M in seed funding in 2017 from investors like Marathon Venture Capital, VentureFriends, Inbox Capital, and Digital Currency Group, and being named among the Top-100 most innovative RegTech firms in 2019; by 2020, Fides powered MENA's largest KYC blockchain consortium.[3] Pivotal traction came from testing proprietary IP with over 10 large financial institutions, leading to live ecosystems shared across 14 banks and governments.[1][4]
Norbloc rides the wave of blockchain and DLT adoption in RegTech, capitalizing on post-2016 hype to solve KYC/AML pain points exacerbated by fraud prevention mandates, GDPR, and pandemic-driven remote onboarding.[1][4] Timing aligns with regulators worldwide prioritizing efficient data sharing to cut costs and boost financial market integrity, as seen in MENA consortiums and European expansion.[1][3] Market forces like rising compliance burdens (costly duplication across institutions) favor Norbloc's model, which influences the ecosystem by enabling monetized data networks and setting standards for digitized, shared KYC—potentially becoming the backbone for global regulated data infrastructure.[1][4]
Norbloc's cash-positive status and institutional validations signal strong momentum toward global dominance in KYC data-sharing, with expansion into new regions and potential external funding to scale ecosystems.[1][2] Rising AI-blockchain synergies, stricter AML regs, and digital identity trends will propel growth, evolving its role from fintech specialist to essential infrastructure for banks and governments. As the pioneer in live multi-party KYC networks, Norbloc is primed to redefine compliant financial data flows worldwide, fulfilling its mission to make markets faster, safer, and more efficient.[4][5]
Key people at norbloc.
norbloc has raised $2.0M in total across 1 funding round.
norbloc's investors include CP Ventures, Hack VC, Marathon Venture Capital, UP.Partners, Noam Bardin.
norbloc has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in October 2017.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2017 | $2.0M Seed | CP Ventures, Hack VC, Marathon Venture Capital, UP.Partners, Noam Bardin |
