New Investment: nobank, the Wallet Making Web3 Accessible to Everyone

By Kristina Morf & Mario Leoni Published on September 26, 2022

Plug and Play is thrilled to announce a new investment in nobank in their $1.4M seed round together with prominent angel investors.

Unlocking the potential of Web3 for the masses

To transact directly on the blockchain, you need a wallet. As such, wallets are the entry point into Web3 and the gateway to exploring and investing. However, wallets are still too complicated, too technical, and just not simple enough to onboard everyone to Web3. Nobank changes that.

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Nobank simplifies Web3 by removing complexities and drastically improving the user experience. The app offers these key features:

  • Wallet: By building a non-custodial wallet using smart contracts, nobank removes a lot of complexity for users through improved security, simplified transactions, a friend's directory, and much more.
  • Investment bundles: Within the wallet, users can invest in token bundles (think non-pooled, non-custodial crypto ETF) and build a diversified crypto portfolio with just one click.
  • WalletConnect & NFTs: Connecting their wallet to decentralized applications and transacting with NFTs enables users to explore the endless possibilities offered by Web3.

In June, nobank launched a closed beta version of their nobank app on iOS and Android and tested it with over 500 people. Since September, the app has been publicly available worldwide and has attracted more than 1,000 users from over 100 countries. The nobank app has been shortlisted for the Best of Swiss App award 2022 and is well on its way to realizing the founders’ vision to make Web3 easily accessible to everyone.

We share this same vision with nobank. “Making blockchain technology accessible is key to innovating how we invest and interact with this new digital economy. Financial and knowledge-based obstacles shouldn’t hinder the masses from participating, which is why it’s exciting to partner with startups like nobank who have the solutions”, said Saeed Amidi, CEO and founder of Plug and Play.

The team behind nobank

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Andras Hejj is the co-founder, CEO, and CTO of nobank. After graduating from ETH Zürich with a Master of Science in Robotics, System, and Control, Andras has worked at Credit Suisse and Avaloq in various strategic roles while building up his know-how about blockchain and crypto as a hobby for more than 10 years.

Mario Leoni, co-founder and CPO, graduated from ETH Zürich with a Master of Science in Mechanical Engineering. While working in product management and strategy consulting at Accenture and Avaloq and gaining experience with the traditional financial system, Mario has been active in crypto for over five years.

During their time at Avaloq, Andras and Mario have developed and rolled out a digital tool used worldwide throughout the company.

Plug and Play partnered with nobank to support their efforts towards making Web3 accessible for everyone.