Switzerland-based Relai, the provider of a Bitcoin investment app, has revealed that it secured CHF 2.5 million in capital via a Series A round that was led by Swiss VC Redalpine. The funding has been acquired less than a year after the company entered the market.
Relai has also received funding from Polytech Ventures, Bitcoin-focused Fulgur Ventures, and ACE & Company, which is an investment group with more than CHF 1 billion in assets under management (AUM).
The proceeds from the investment round should allow Relai to develop a proprietary broker for fast and efficient order processing and introduce new product offerings for investors who are interested in purchasing large amounts of Bitcoin (BTC).
With its own brokerage services, Relai is also planning to offer features such as instant purchases (price lock), optimizing/enhancing execution processes, and also direct delivery to the user-controlled wallet of choice (either Relai or some other third-party).
Relai’s management noted that they are also planning to acquire a financial intermediary license to support their line of products and services.
Julian Liniger, Co-Founder and CEO at Relai, remarked:
“With our own broker, the Relai App will not only be the easiest, but also the most efficient way to buy & sell bitcoin in Europe. The whole team is proud and incredibly excited to receive backing from such top-notch venture capital investors like Redalpine, Polytech, Fulgur, and ACE, who understand our vision and trust us to deliver on our mission.”
Peter Niederhauser, Co-Founder and Partner at Redalpine, stated:
“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. We look forward to being part of the journey and to supporting this exceptional Swiss early-stage startup in achieving global success.”