Top 10 Crypto Startups to Watch This Year

Top 10 Crypto Startups to Watch This Year

Farzana Haque, 30 March 2023

The recent high-profile collapse of cryptocurrency exchange, FTX, caused quite a stir in the crypto ecosystem (to put it lightly). But what’s less controversial is the technology behind crypto. It’s widely considered to be innovative and exciting—and new crypto companies are popping up every day.

In this article, we look beyond the big name crypto companies and blockchain platforms, to the lesser known—potentially more exciting—new players on the scene. Here,  we profile the top 10 early-stage startups raising funds for the very first time.

But first, what is a cryptocurrency and how does it work? 

Cryptocurrency is a digital currency that uses cryptography to secure and verify transactions. Back in 2009, Bitcoin was the first cryptocurrency to launch, but there are thousands of others, from Ether (also known as ETH) to Litecoin and Dogecoin. They work via a decentralised system, meaning there’s no need for financial institutions to act as middlemen. Crypto exchanges like Binance and Coinbase operate as trading platforms for crypto. Many of these exchanges also have their own crypto wallets for storing digital assets 

Crypto trades are recorded on a public digital ledger called a blockchain. This ledger is maintained by a network of users—making it a peer-to-peer model—who verify transactions and add them to the blockchain. Examples of blockchain networks include Ethereum and Solana. Another feature of blockchain technology is ‘smart contracts’ which enable automated execution of contracts and agreements; this is already making headway in the financial services industry

The potential for cryptocurrencies and blockchain companies is huge. From e-commerce to social media, there’s a lot of space for cutting-edge innovations. For example, we’re already seeing blockchain technology  being used in payment systems to offer faster and cheaper transactions by using cryptography and cutting out intermediaries.

Top 10 crypto companies in the UK

We can all agree that San Francisco’s Silicon Valley is the global hub of technology companies. But did you know London is also a hotspot for crypto companies? In fact, 74% of all the high-growth crypto companies on our platform are based in London. 

To discover the top 10 high-growth UK crypto companies that secured their first equity funding in the last six months, ranked in order of deal size, read on.



Headquarters: London
Deal date: October 2022
Amount raised: £8.73m 

Deblock provides cryptocurrency banking services for individuals, focusing particularly on “off-ramping”. The London-based startup announced in October 2022 plans to initially launch in France. Founded less than a year ago in August 2022, the company is already valued at £23.0m following the end of its first equity round. Interestingly, all three of the entrepreneurs behind Deblock previously worked at Revolut, one the UK’s unicorn companies.  

Known investors: Headline, Hoxton Ventures



Headquarters: London
Deal date: September 2022
Amount raised: £3.13m

Solvo develops a crypto-currency investment app. Founded in December 2021, this fintech allows users to invest both in individual coins and in bundles of projects within a sector. Bundles offer diversified exposure to different areas of the cryptocurrency market, such as blue-chip projects, DeFi, the Metaverse and gaming. Both its co-founders were also former Revolut employees. According to the company’s social media platform, it has recently made new hires. With its growing headcount and new notable investors, this is definitely a startup we’ll be watching closely. 

Known investors: FJ Labs, Index Ventures, CoinFund 



Headquarters: London
Deal date: December 2022
Amount raised: £2.68m

Founded in September 2022, Due develops software for payment processing with a focus on crypto-currency.  It aims to be the fastest and easiest way to pay and get paid in crypto, with the goal to make payments global and inclusive. The startup hopes to take money from any currency or wallet and settle it in stablecoins. Following its equity injection in December, Due has a valuation of £9.23m. 

Known investors: N/A



Headquarters: London
Deal date: February 2023
Amount raised: £750k

Soccerverse develops an online blockchain-based multiplayer football management game where players can choose between being a manager, an agent, a scout or a shareholder. The use of blockchain technology in this community-driven football game is apparent throughout, from its marketplace where players buy and sell assets using cryptocurrencies, to all transactions going through a ledger and thereby being transparent. 

Known investors: Hiro Capital 



Headquarters: London
Deal date: October 2022
Amount raised: £538k

Fountain develops a mobile app that pays users through Bitcoin for consuming podcasts or for creating them. Listeners are rewarded for their first hour of daily listening whilst podcasters are rewarded by minutes listened or comments from listeners. Founded in July 2021, the app is available to download on iOS and android now. 

Known investors: N/A


Klink Finance 

Headquarters: London
Deal date: October 2022
Amount raised: £436k

Founded less than a year ago, Klink Finance operates a gamified crypto asset management platform. Users can deposit their crypto at Klink and for every $25 deposited, they are rewarded with tickets to daily sweepstake draws. Inspired by UK Premier Prize Bonds, the startup distributes returns in the form of prizes, allowing for the possibility to win big. It raised its first and only equity round in October 2022 to support the launch of its product which is now live. 

Known investors: Blockchain Founders Fund (BFF), Signum Capital, StartupGym, TechMeetsTrader, UOB Venture Management 



Headquarters: London
Deal date: October 2022
Amount raised: £425k

XBOOKS develops a platform for tax and accounting services specialising in cryptocurrency. The London-based startup is developing CryptoBooks software, which will enable users to create reports of cryptocurrencies and blockchain assets, essentially helping users to manage their accounts using the accounting methods of professionals. XBOOKS raised funds back in October 2022 to support team growth and to aid the expansion of its customer base. The website indicates that the startup’s open to new investors—could this be your next opportunity?

Known investors: SFC Capital, NexumStp


Verse Digital 

Headquarters: Cambridge
Deal date: December 2022
Amount raised: £291k

Verse Digital operates a creative development studio that specialises in helping companies to enter the Metaverse gaming industry. It helps businesses to define their Metaverse strategy, deploy activations, manage virtual real estate and build brand experiences in the Metaverse. In the later stages, this startup also helps companies define their NFT (non-fungible token) strategies. 

Known investors: N/A



Headquarters: London
Deal date: March 2023
Amount raised: £158k 

Lithium is the final London-based startup on our list. It develops a web3 community management platform with tools and services that enable businesses to understand their communities. Their platform harnesses data analytics, artificial intelligence , and gamification to unlock the full potential of tokenised communities. From liquidity DeFi (decentralised finance) hubs to NFTs, there are numerous projects users can join and in return, they gain benefits such as early access to events.  

Known investors: Fuel Ventures 



Headquarters: Kent
Deal date: October 2022
Amount raised: £144k

Founded in September 2022, this startup provides accountancy services for web3 companies. In addition to crypto bookkeeping, Flare also offers services in management reports, R&D tax credits and token vesting. The startup was founded in September 2022 and it raised its first round—taking £144k—immediately after in October. It is valued at £1.55m. 

Known investors: N/A

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