Relais Bitcoin-only platform closes USD 4.5 million investment round – Venturelab
Non-custodial bitcoin platform Relai announced closed an investment round led by Jeff Booth’s ego death capital. The TOP 100 startup will use the capital to further strengthen its position as Europe’s leading bitcoin onramp.
There are several Bitcoin-only investment platforms aimed at retail investors, but Relai has distinguished itself with its user-friendly interface, which makes bitcoin purchases accessible to everyone regardless of their technical skills. In addition, the mobile app offers an easy-to-use non-custodial bitcoin wallet, giving users full control over their money.
The USD 4.5 million investment round was led by ego death capital. Additional investors are Timechain, Cabrit Capital and Lightning Ventures. Redalpine, which led Relais’ previous funding round, and early-stage investor Fulgur Ventures both invested again.
“The current bear market is the perfect time to focus on what matters most: building a first-class product, delivering a seamless user experience, and educating people about Bitcoin as the best savings technology ever invented. Our team is hungry for what is pending and we have a crystal clear plan that we will execute in the coming months. With ego death capital and the great network around Jeff Booth, Andi Pitt and Nico Lechuga, we are ready to bring bitcoin to everyone in Europe!” Julian Liniger, CEO and co-founder of Relai, commented.
Relai co-founders Julian Liniger (CEO) and Adem Bilican (CTO)
The proceeds from this round will go towards strengthening Relais’ position as a leading bitcoin-only retailer in Europe. The startup plans to expand its services with no-fee trading, upgrade to Lightning and launch a white-label product that allows other fintech companies to offer fiat-to-bitcoin trading. Additionally, the startup recently expanded its platform to attract small and medium-sized businesses looking to add bitcoin to their balance sheets with the launch of Relai Business in January.
“We’ve been really impressed with Julian and the Relai team and their ability to deliver long-term value to users,” said Jeff Booth, general partner at ego death capital. “We believe they will be a key player for European Bitcoin adoption and are excited to work with them.”
As part of the investment, ego death capital founder Andi Pitt will also join the Relais board. She was previously vice president and traded at Goldman Sachs New York. Ego death’s other partners are serial tech entrepreneur Jeff Booth, and Nico Lechuga, a successful entrepreneur. Their advisory board includes big names in the global Bitcoin industry such as Lyn Alden, Preston Pysh and Pablo Fernandez.
Relai was named a TOP 100 Swiss Startup in 2022, making it one of the top ten fintech startups in Switzerland in the eyes of the TOP 100 expert jury. “I think it was a great signal for our network and investors that we have made it to the TOP 100 startups and top 10 fintechs in Switzerland,” said Relai CMO Imo Babics. “We are very proud of it and we want to do it much better this year!”
Relai allows users to easily buy and store bitcoin. The app comes with a non-custodial Bitcoin wallet, giving everyone full control over their assets. Founded in Switzerland by Julian Liniger and Adem… Read more
