Since the Zurich-based startup launched in July 2020, the Relai app has been downloaded over 23,000 times and is already being actively used by more than 10,000 paying customers. This makes Relai one of the fastest-growing Bitcoin startups in Europe. The early success of the company can be attributed to the simplicity and ease of use of the Relai app, which has made it a popular choice among first-time bitcoin buyers.
The Series A funding round was led by Redalpine, with additional backing by Polytech Ventures, Bitcoin-focused Fulgur Ventures, and ACE & Company, an investment group with over CHF 1 billion in assets under management. Peter Niederhauser, Co-Founder and Partner at Redalpine, commented: "We are impressed by the dedication, hard work, and rapid growth that the young Relai team has demonstrated in the last year. We want to help accelerate the mass adoption of crypto by easing access to its leading currency, Bitcoin.
The new financing round will enable Relai to build a proprietary broker for efficient order processing and provide new offerings for investors who are looking to buy large amounts of bitcoin. With its own brokerage capabilities, Relai is also looking to provide features like instant purchases (price lock), optimising execution, and direct delivery to the user-controlled wallet of choice (Relai or third-party).
(Press release / SK)