TX: Ventures, the VC arm of TX Group, invests in Swiss Fintech Relio

TX Group AG

Group communication

Media release

TX Ventures, the VC arm of TX Group, invests in Swiss Fintech Relio

Swiss Fintech Relio secures CHF 3 million in funding for the launch of a digital payment account for business customers. With its newly developed compliance technology, the startup specializes primarily in complex corporate clients.

The lead investor in this funding round was TX Ventures, the VC investment arm of TX Group. The financing round also included significant investments from SIX FinTech Ventures, High-Tech Gründerfonds (HTGF), among other new investors.

Zurich, 10 January 2023 – Relio AG (“Relio”) completed the closing of its CHF 3 million financing round for the launch of a digital payment account for business customers. The funding round was led by TX Ventures, the VC arm of TX Group, and also included significant investments from SIX FinTech Ventures and High-Tech Gründerfonds (HTGF). Other participants included F10, daFUND, QBIT Capital and several business angels.

Neobanks has reshaped digital banking in Europe. However, these digital banks often face compliance challenges when serving corporate customers. Complex ownership structures, international cash flows and complicated business models pose higher risks in the form of fraud and money laundering. Due to the extensive due diligence required, such clients often wait several weeks to open an account, and often have transactions and accounts frozen as a precautionary measure until these have been manually checked by experts. Relio has developed an automated compliance framework that performs these checks accurately and quickly, shortening potential delays and red tape, thereby reducing the common frustration these customers experience when trying to pay salaries and invoices on time. This innovative solution gives Relio a competitive edge for reliable Swiss payment accounts in the business customer segment.

Relio’s founder is CEO Lav Odorovic, the creator of Penta, a successful SME neobank in Germany. With the help of this funding round, Relio aims to advance the development of its technology stack and obtain a FINMA Fintech license.

Lav Odorovic, co-founder and CEO of Relio: “We are very happy to work with TX Ventures. For us, they are not just another investor, but a real partner who adds value in various areas. TX has a unique position in the Swiss ecosystem with its long lasting

commitment to fintech, its deep startup expertise and the extensive network that has helped us from day one.”

Krzysztof Bialkowski, managing partner of TX Ventures: “We are very pleased to be part of Relio led by Lav, the successful founder of the German SME bank Penta. We strongly believe that Relio’s experienced team can continue to develop the future of finance in SME banking by automating and improving a key aspect of banking: compliance. This allows the company to bring real innovation to the market by eliminating red tape and waiting times while supporting even the most complex SME customers in Switzerland and abroad.”

Contacts

TX Group

Karole Verlage Frei, Group Senior Communications Manager [email protected]

Relio

Milos Stokic, co-founder and marketing manager [email protected], +41 78 663 26 33

About TX Group

TX Group forms a network of platforms and participations that offer users information, orientation, entertainment and assistance for everyday life on a daily basis. Its roots lie in journalism with the various newspapers of Tamedia and the free media of 20 Minuten. The portfolio is completed by the advertising marketer Goldbach. TX Group is an anchor shareholder in SMG Swiss Marketplace Group and JobCloud, has majority stakes in Doodle and Zattoo and is an investor in the fintech sector through TX Ventures. The portfolio of TX Ventures includes minority stakes in the platforms Everon, Helvengo, Lend, Lykke, Monito, Neon, PriceHubble, Selma Finance and Stableton. In addition, TX Ventures is invested in Backbone, Helpling Switzerland and Picstars. TX Group was founded in 1893 and has been listed on the Swiss stock exchange since 2000.

www.tx.group

About Relio

Relio is developing a Swiss digital payment account specifically for small and medium-sized businesses. In the Swiss financial center, many companies struggle with bureaucratic obstacles when opening an account and throughout the banking relationship. Relio’s technological platform means that compliance can be largely automated. As a result, even complex companies can open a business account with a Swiss IBAN number with just a few clicks. The startup was launched in December 2020 by Lav Odorovic. He previously built the German challenger bank Penta as founder and CEO. With Relio, he now aims to drive digitization in the banking sector in Switzerland.

www.relio.ch