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Swiss Bitcoin Funding App Relai Raises $2.7 Million

06/16/2021

Switzerland-based bitcoin funding app Relai raised greater than $2.7 million in a collection A spherical and now seeks to construct a proprietary dealer.

Relai, a Switzerland-based app designed to make bitcoin investing easy in Europe, has introduced a elevate of two.5 million Swiss francs (roughly $2.778 million) in collection A funding led by Swiss enterprise capital agency Redalpine.

“The capital injection can be used to construct the main bitcoin dealer in Europe and acquire a monetary middleman license,” in response to a Relai press launch shared with Bitcoin Journal. “The brand new financing spherical will allow Relai to construct a proprietary dealer for environment friendly order processing and supply new choices for buyers who wish to purchase giant quantities of bitcoin.”

Along with Redalpine, Polytech Ventures, Fulgur Ventures and ACE & Firm contributed to the collection A.

Relai was launched in July 2020 and, in response to the discharge, has been downloaded greater than 23,000 instances and is being actively utilized by greater than 10,000 prospects so far. Following this funding and the potential to construct its personal brokerage capabilities, Relai hopes to offer customers the power to switch bitcoin on to wallets of their very own alternative, a crucial function wanted for somebody to really “personal” the bitcoin that they purchase by the platform.

“We wish to assist speed up the mass adoption of crypto by easing entry to its main foreign money, bitcoin,” siad Peter Niederhauser, cofounder and associate at Redalpine, per the discharge. “We look ahead to being a part of the journey and to supporting this distinctive Swiss early-stage startup in reaching international success.”