What Unbox does

Unbox (legally NBX BV) is a Belgian software company founded in 2020 and headquartered in Antwerp, Belgium, with a US subsidiary (NBX-USA LLC) in Aventura, Florida. The company provides blockchain-based infrastructure for the programmable exchange of value through closed-loop networks, targeting governments, NGOs, and large enterprises that need transparent, targeted, and auditable distribution of funds. The company has executed more than 50 use cases globally spanning local currency issuance, government stimulus distribution, humanitarian aid, environmental sustainability, healthcare contingency management, and supply chain traceability, with named customers including the City of Antwerp, Delhaize, UNRWA, KBC, the Flemish Government, the City of Gary (Indiana), SAMHSA, Indy Eleven, and the Robin Foundation.

The core technology stack comprises Ucoin (a digital value carrier that does not store value and can be programmed with pre-defined spending categories and RuleSets), Unbox Studio (a closed-loop system builder), a Self-Sovereign Identity management layer, and a modular product portfolio including Unbox Litter, Unbox Your City/Antwerpen Ucoin, Unbox Grants, Unbox DRS, Unbox Recovery/FaithWorks Wallet, Unbox HumAid, Unbox Education, Unbox Supply Chain, Unbox Tourism, and Unbox Wellbeing/Healthy Ucoins. The platform supports GDPR-compliant transaction tracking, operates in low-connectivity environments (2G compatibility demonstrated in Gaza), and integrates with existing merchant systems without requiring POS infrastructure changes.

Unbox operates a B2B enterprise SaaS model with three revenue streams: software platform licensing and subscriptions, transaction processing fees on Ucoin transactions within closed loops, and professional services for custom implementations. Pricing is contract-based with no publicly disclosed rate card. The company reached 101,911+ active users on its Click/Unbox Litter platform across 586 cities and 2,423+ merchants as of June 2024, with notable outcomes including €12.4M flowed to Antwerp entrepreneurs through Antwerpen Ucoin, a 1.81x multiplier effect on a $6.7M Antwerp Covid stimulus deployment, and a Banking Tech Award in the Fintech for Good category for the Unbox Recovery solution addressing the opioid crisis in Gary, Indiana. Unbox has raised approximately €20M+ across an $8.5M seed round (August 2022, led by KBC) and a €12M Series A (January 2024, led by HSBC Asset Management with SFPIM Relaunch participation).

Name

Unbox

Legal name

NBX BV

Website

https://unboxuniverse.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

51–100 employees

Short description

Unbox is a Belgian fintech software company providing blockchain-based closed-loop platforms that enable governments, NGOs, and enterprises to distribute funds and value transparently with programmable spending controls and Self-Sovereign Identity management.

Ownership category

akta.pro rank

Product category

Programmable Value Exchange Platform

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Interoperability & Integration Middleware (ERP/core banking connectors, messaging, APIs, cross-chain to permissioned) (FSAPAIAL)

akta.pro secondary industries

Permissioned Blockchain Platforms & Frameworks (Hyperledger, Corda, Quorum) (FSAPAIAA), Trade Finance & Supply Chain Tokenization (invoices, bills of lading, provenance) (FSAPAIAK), Secrets Management & Machine Identity (API keys, certificates, workload identity) (HDAEAJAJ)

Keywords

• Programmable value exchange
• Closed-loop fund distribution
• Blockchain payment platform
• Local currency issuance
• Digital wallet infrastructure

Headquarters

HQ city

Antwerp

HQ country

Belgium

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Software Platform Licensing & SaaS: Licensing of proprietary Unbox software platform (Studio, XYZ, closed-loop systems) to governments, NGOs, and corporate clients for use cases including grants distribution, local currencies, litter rewards, and deposit return schemes. Revenue derived from platform deployment, configuration, and ongoing usage.
2. Transaction Processing Fees: Processing fees on Ucoin transactions within closed-loop systems. Merchant onboarding is free with no POS integration required; Ucoin transactions are processed instantly with no transaction fees mentioned for merchants, suggesting fees may be borne by program operators (governments, NGOs).
3. Professional Services & Implementation: Custom implementation and consulting services for enterprise and government clients deploying Unbox's programmable value exchange infrastructure. Includes white-label and co-development arrangements with strategic partners.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Unbox develops and licenses a blockchain-based programmable value exchange platform that enables transparent distribution of funds within closed-loop networks. Its core consists of Circular Ucoin tokens, the Unbox Studio/XYZ platform for building closed-loop systems, and Self-Sovereign Identity management, delivered through vertical modules (Unbox Litter, Unbox Your City, Unbox Grants, Unbox DRS, Unbox Recovery, Unbox HumAid, Unbox Education, Unbox Supply Chain, Unbox Tourism, Unbox Wellbeing) for governments, NGOs, and large enterprises.

Product overview

Unbox is a software company providing infrastructure for programmable exchange of value. The core platform consists of Ucoin (a digital value carrier with programmability) and Unbox Studio (for building closed-loop systems). The product portfolio includes vertical-specific modules: Unbox Litter (environmental/waste management), Unbox Your City/City Ucoins (local economic stimulation), Unbox Grants (fund distribution), Unbox DRS (deposit return schemes), Unbox Recovery/FaithWorks Wallet (opioid crisis solutions), Unbox HumAid (philanthropy), Unbox Education, Unbox Supply Chain, Unbox Tourism, and Unbox Wellbeing/Healthy Ucoins (employee rewards). The platform enables governments, NGOs, and corporations to create purpose-bound currencies and transparently distribute value with full traceability.

Differentiator

Problem solved

Functional benefit

Brands

• Ucoin: Digital value carrier and registered trademark for programmable exchange systems. Circular Ucoins operate within closed-loop systems, rewarding positive behaviors and enabling targeted spending.
• Unbox Litter
• The Click
• Unbox Recovery
• Healthy Ucoins
• Antwerpen Ucoin

Products and services

• Unbox Platform (Unbox Studio, Ucoin, XYZ) Proprietary closed-loop software platform combining Unbox Studio (closed-loop system builder), Ucoin tokens (programmable digital value carriers with RuleSets), and the XYZ platform. Enables governments, NGOs, and enterprises to pre-define rules for compliant and economically positive use of funding with automated reporting.
• Unbox Litter (The Click) Behavioral-nudging software that incentivizes litter collection through gamified rewards; powers The Click web application where users scan pieces of litter before disposing to earn Circular Ucoins redeemable at local stores. Deployed across 586 cities and 2,423+ merchants with 1,999,090+ confirmed pick-ups.
• Unbox Your City (Antwerpen Ucoin) City Ucoin solution for organically stimulating local economies, supporting small businesses, and activating citizens while maintaining control of cashflow with no slippage or leakage of funds.
• Unbox Grants Software for funding, growing, and monitoring impactful projects with guaranteed resources being used as intended, including automated compliant reporting to funding organizations. Deployed for Indiana's 5G grants distribution via NineTwelve.
• Unbox DRS Intelligent, fully digital Deposit Return and Refund Solution that rewards users for properly disposing of packaging, supporting Digital Deposit Return Schemes. Tracks low-value items with unique codes.
• Unbox Recovery (FaithWorks Wallet) Digital wallet offering financial incentives to opioid patients participating in recovery programs using Ucoin tokens programmed with RuleSets for contingency management within closed-loop systems. Deployed as FaithWorks Wallet for $500,000 in SAMHSA funding in Gary, Indiana.
• Unbox Wellbeing (Healthy Ucoins) Reward system providing discounts on healthy food products based on Nutri-Score ratings, integrated with retailer loyalty systems. Deployed via Delhaize Superplus card across 771 Belgian stores with up to €60/month per employee.
• Unbox HumAid Philanthropic fund distribution solution increasing efficiency and transparency of charitable initiatives with secure fund delivery to intended recipients. Designed for low-connectivity environments (e.g., 2G-compatible for Gaza).
• Unbox Education Educational fund distribution enabling better and more efficient delivery of funds to students in need with spending steered to maximize efficiency.
• Unbox Supply Chain Supply chain solution ensuring fairness by confirming everyone gets exactly what is owed with absolute transparency across the value chain.
• Unbox Tourism Tourism incentivization solution encouraging tourists to support local shops, restaurants, and cultural attractions through programmable rewards.

Quantifiable outcome

• x1.81 multiplier effect on city investment — $12.5M distributed from $6.7M initial investment to 4,000+ SMEs in 6 months, with zero auditing consultants required
• +5 more outcomes

Named customers13 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature6 records

Partnerships

15 partnerships are on record, tiered minor, core and flagship.

• UNHCR (United Nations High Commissioner for Refugees)minorStrategic or Co-development Partner · 24 June 2024Hovig Etyemezian, Head of Innovation Service UNHCR, participated as a panelist in Unbox's 'Humanitarian Crisis Management in the Digital Age' event, discussing digital solutions transforming aid delivery and empowering refugee communities.
• Save the ChildrenminorStrategic or Co-development Partner · 24 June 2024Willy Bergogné, Europe Director & EU Representative of Save the Children, participated as a panelist in Unbox's humanitarian event, emphasizing cross-sectoral collaborations as vital for efficient crisis response.
• Care InternationalminorStrategic or Co-development Partner · 24 June 2024Julieta González, Senior EU Advocacy Advisor at Care International, participated as a panelist in Unbox's humanitarian event discussing cooperation with the private sector for successful humanitarian and development aid.
• Enabel (Belgian Development Agency)coreStrategic or Co-development Partner · 24 June 2024Jean Van Wetter, CEO of Enabel, participated as a panelist in Unbox's humanitarian event. Enabel also collaborated with Unbox on the Burundi digital transaction ecosystem for financial inclusion, a cashless pilot project in Bujumbura.
• CAW (Centrum voor Ambulante Welzijn)minorImplementation/ SI/ Consulting Partner · 20 December 2023CAW collaborated with Unbox on a social experiment where 97% of deposit return participants chose to provide a free meal to a homeless person over monetary rewards, resulting in nearly 400 homeless individuals receiving hot meals in Antwerp at Christmas.
• Field&ConceptminorImplementation/ SI/ Consulting Partner · 20 December 2023Field&Concept partnered with Unbox and CAW on the altruistic deposit return social experiment in Antwerp, contributing to the charitable initiative that provided meals to homeless individuals.
• UNRWA (United Nations Relief and Works Agency)flagshipStrategic or Co-development Partner · 25 September 2023Unbox and UNRWA launched UNLitter Gaza to revolutionize waste management and promote digital inclusion in the Gaza Strip. Aligns with UN SDGs (Goals 3, 8, 9). Unbox technology adapted for low 2G connectivity. Engages young people who make up 70% of Gaza's population.
• Flemish Government / OVAMcoreStrategic or Co-development Partner · 30 May 2023Flemish Government selected Unbox for digital Deposit Return Scheme (DRS) pilot project. Unbox participated in three-phase testing (closed, semi-open, open environments) starting May 2023 at KBC headquarters. Part of Flanders' initiative to revolutionize waste management ahead of 2025 rollout.
• OVAM (Openbare Afvalstoffenmaatschappij voor het Vlaams Gewest)coreGTM or Marketing Partner · 30 May 2023OVAM supervised Unbox's DRS pilot as part of the Flemish Government's digital deposit pilot projects steering group, evaluating Unbox's deposit return scheme proposal for Flanders.
• Indy ElevencoreStrategic or Co-development Partner · 12 May 2023Partnership to implement Unbox Litter at Indy Eleven sports venues (IUPUI Michael A. Carroll Stadium, Eleven Park, Grand Park Sports Campus). Fans earn rewards for litter collection. Indy Eleven contributes to prize pool with signed jerseys and season tickets. First US implementation of Unbox Litter.
• NineTwelve (Indiana)coreTechnology or Integration · 30 August 2022NineTwelve Grant Management uses Unbox Studio software to distribute Indiana's 5G grants. Unbox's closed-loop system allows NineTwelve to pre-define rules for compliant grant usage, automate reporting to IEDC, and create an economically positive use of grant funding within state lines.
• DelhaizecoreStrategic or Co-development Partner · 8 September 2021Delhaize and Unbox launched the Healthy Membership Program offering employees of participating organizations a 20% discount on Nutri-Score A/B products. Program integrated via Delhaize's Superplus loyalty card across 771 Belgian stores. Based on successful 2019 pilot 'Healthy Ucoins'.
• Partena ProfessionalminorChannel Partner/ Reseller/ Distributor · 8 September 2021Partena Professional committed to offering the Healthy Membership Program to its 10,000+ member companies and its own employees, serving as a channel to distribute the program to employers across Belgium.
• Fost PluscoreStrategic or Co-development Partner · 11 May 2021Fost Plus launched the Click web application powered by Unbox Litter technology. The Click incentivizes community members to clean up trash with Circular Ucoins redeemable at local stores. Fully rolled out across Belgium with 586 cities and 2,423+ participating merchants.
• IEDC (Indiana Economic Development Corporation)minorImplementation/ SI/ Consulting PartnerUnbox's platform automatically generates compliant reports for IEDC (Indiana Economic Development Corporation) as part of the 5G grants distribution program with NineTwelve.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• BanQu: BanQu is a blockchain-based supply chain transparency and economic identity platform enabling traceability of value across producer-to-buyer transactions. It is highly comparable to Unbox's closed-loop, traceable fund distribution model, particularly for Unbox Supply Chain and grant use cases.
• Grassroots Economics: Grassroots Economics issues community currencies using blockchain technology to drive financial inclusion across Africa. It directly parallels Unbox's Burundi pilot and Unbox Your City / Community Issuance programs targeting unbanked populations.
• GoodDollar: GoodDollar is a non-profit protocol issuing digital basic income via a programmable token to drive economic inclusion. It mirrors Unbox's purpose-bound, programmatically distributed value approach and competes for similar humanitarian and inclusion use cases.
• Circles: Circles is a decentralized digital currency platform issuing personal, trust-based currencies for community exchange. Its closed-loop, programmable-money design closely overlaps with Unbox's Circular Ucoin architecture.

Emerging players

• Flexa: Flexa is a digital payments network enabling merchants to accept crypto and stablecoin payments with instant settlement. It overlaps with Unbox's programmable merchant transactions and free POS-less onboarding model.
• Civic: Civic is a Self-Sovereign Identity platform providing decentralized identity verification and reusable KYC. It is directly comparable to Unbox's Self-Sovereign Identity and Trust-as-a-Service capabilities.

Broad incumbents

• Consensys: Consensys is a leading Ethereum software company offering enterprise blockchain tooling (Infura, Linea, MetaMask). It is a broad incumbent in the same enterprise blockchain infrastructure space where Unbox's Unbox Studio competes.
• M-Pesa (Safaricom): M-Pesa is Africa's largest mobile money platform serving unbanked populations. It is a broad incumbent comparable to Unbox's Burundi financial inclusion and Unbox HumAid / community currency programs.
• Twisto / Klarna (BNPL & payments): Klarna is a global Buy Now Pay Later and payments network. While not a direct competitor, its consumer merchant network and programmable incentive infrastructure are broadly comparable to Unbox's loyalty/wellness programs (Healthy Membership with Delhaize).

Others

• Hyperledger Foundation: Hyperledger is the open-source permissioned blockchain umbrella under the Linux Foundation. It is adjacent infrastructure that Unbox's closed-loop platform effectively competes against or could integrate with for enterprise deployments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/unbox_universe
• LinkedInlinkedin.com/company/unboxuniverse

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Unbox