Bitcoin app Relai announces a USD 4.5 million investment

Switzerland-based Bitcoin app Relai has announced a US$4.5 million investment round led by ego death capital.

Other investors include Timechain, Cabrit Capital and Lightning Ventures. Additional participants in the investment round include Relais’ lead investor Redalpine and early-stage investor Fulgur Ventures, both of whom reinvested. The startup aims to make Bitcoin purchases accessible to everyone, regardless of technical ability. In addition, the app for Android and iOS offers a Bitcoin wallet that gives users full control over their Bitcoins.

Fee-free Bitcoin trading is planned

The proceeds from this round will go towards strengthening Relais’ position as a Bitcoin-only startup in Europe. The startup plans to offer lead-free Bitcoin trading, integrate Bitcoin Lightning functionality and launch a white-label offering that will allow other fintechs to offer fiat-to-bitcoin trading soon. In addition, the company recently expanded its service to accommodate small and medium-sized enterprises (SMEs) that can add Bitcoin to their balance with the launch of Relai Business.

According to a representative of ego death capital, the Relai team has shown that they can achieve sustainable growth by building a loyal user base. The representative goes on to state that they believe that Relai will play a key role in the spread of Bitcoin across Europe.

Relay functions

Relai allows users to easily buy and store Bitcoin, and the app comes with a no-obligation Bitcoin wallet that gives users full control over their wealth. The startup aims to make Bitcoin investing accessible to everyone, as it is designed to be simple and intuitive. Their Bitcoin app allows anyone to buy and sell Bitcoin in minutes, with no registration, verification or deposit required. Relais’ goal is to enable consumers to find new ways to save and invest. Over 100 million CHF have already been invested in Bitcoin through the platform.

How investments work

Users can set the amount of money they want to invest, which can start as low as 10 EUR/CHF and go all the way up to 1000 CHF per day and 100,000 CHF per year. Customers can also choose how often they want to buy Bitcoin, and can choose between making a single purchase or setting up a weekly or monthly auto-investment plan. After this selection, users enter the IBAN they will pay from and a referral code, if they have one. Finally, Relai users need to go to their online banking app and create a bank transfer using the details they see on the Relai app screen.