More than € 2.1 million for bitcoin app

Relai, a Zurich based startup providing a savings and investment app to make bitcoin accessible for everyone, has finalised its first investment round led by Redalpine. The proceeds of €2.16 million, including funds from more than 870 backers on Crowdcube, will enable the startup to scale across Europe where it already serves more than 24’000 active users.

Since its launch in 2020, Relai has gone from strength to strength thanks to easy to use bitcoin investment app that gives everyone the opportunity to buy and save bitcoin. With over 80’000 app downloads in 46 countries in Europe, the startup currently boasts more than 24,000 active users across Europe.

To further scale the platform, the cofounders Julian Liniger and Adem Bilican launched a crowdfunding campaign seeking to raise €1.5 million. The private phase of the raise saw more than €1.2m invested, with Relai’s lead VC investor, Redalpine, investing again. Other seed stage investors Polytech Ventures, Fulgur Ventures and ACE & Company also participated in the round. A further € 970’000 came from over 870 investors, bringing the total amount raised to €2.16 million. The raised amount surpasses the startup’s initial target of €1.5 million.

Besides using the funds to scale its user base across Europe, Relai has plans to make buying bitcoin even quicker and simpler, in particular for new bitcoin investors. The startup will also launch additional features, which will expedite bitcoin’s transition to the mainstream.

Harald Nieder, General Partner at Redalpine said, “We first invested in Relai in 2021, and didn’t hesitate to add to our commitment when we were given the opportunity this time around. “In the past months, we have seen great performance to reach several milestones, fantastic new additions to the team and speedy execution - we’re excited to be on the journey with the Relai team and welcome the new investors joining us at the table.”

(Press release/RAN)
Photo L-R: Relai Co-founders Julian Liniger and Adem Bilican