Relai is a Switzerland-based company that offers an app designed to make it easy for anyone to invest in Bitcoin. The company’s mission is to democratize Bitcoin ownership and make it accessible to everyone. Recently, it announced a $4.5 million funding round headed by Ego Death Capital for the expansion of its operations.
After its initial success following its launch in 2020, the crypto investment firm Relai just unveiled its plan for the expansion of its retail Bitcoin on-ramp in Europe. The company is looking to integrate the Lightning Network and a white-label product in its portfolio to provide its users zero-fee trading plus fiat-to-Bitcoin trading support for companies via the new Relai Business platform.
With that, Relai needed more infusion in its funds to put its goal to fruition. The latest funding round allowed the company to raise up to $4.5 million, which effectively increases its valuation to $20 million.
Most of the new budget came from Ego Death Capital. The rest were shared by new investors, namely Lightning Ventures, Timechain, and Cabrit Capital, as well as already-existing investors, Redalpine and Fulgur Ventures. The big slice of funding given by Ego Death Capital makes its founding partner Andi Pitt a member of Relai’s board.
Relai co-founder and CEO Julian Liniger proudly stated that the company has shown a growth rate of 10% on a month-over-month basis. The recent efforts of the people at its helm are expected to bring in a new quarterly record for the firm in terms of volume and revenue for the first quarter of 2023.
What Relai is All About
Relai was founded in 2019 by Julian Liniger and Adem Bilican. Its app launched in 2020 makes it convenient for people to buy and sell Bitcoin with just a few taps on their smartphone.
The company’s main product is its Bitcoin investment app. The app is available for both iOS and Android devices and can be downloaded for free from the App Store or Google Play. It is also designed to be user-friendly and easy to navigate, even for those who are new to Bitcoin investing.
The Relai app allows users to buy Bitcoin with Swiss francs (CHF) or Euros (EUR) using a bank transfer or credit card. Users can likewise sell Bitcoin for CHF or EUR and withdraw the funds directly to their bank account.
Moreover, the system it offers is designed to be a non-custodial wallet. It means that the security keys are the sole responsibility of the user alone and not within Relai or a third-party entity. This allows each owner complete control of his/her wallet when it comes to storage and security.
In addition to its Bitcoin investment app, Relai offers a few other services to its users. For example, the company offers a “Bitcoin Basics” course that teaches users the basics of Bitcoin and how to use the Relai app. They offer a referral program that rewards users who refer others to the app with a small amount of Bitcoin, too.
Furthermore, Relai offers a Bitcoin payment gateway for merchants who want to accept Bitcoin payments. This service allows merchants to accept Bitcoin payments from customers and have the funds automatically converted into their local currency.
The promising venture of Relai is a breath of fresh air despite the turbulent times experienced by the crypto landscape due to the bear market, scandals, and regulatory crackdowns in the US. Obviously, the Swiss and other major markets in Europe are definitely doing a better job than their American counterparts. Therefore, US regulators should take a page or two on how their European equals are balancing things out in their respective jurisdictions to promote a better ecosystem for crypto investments in their territories going onward.
Giancarlo is an economist by profession with a career spanning nearly two decades. His professional journey has seen him assume vital roles in various government and private organizations such as the Department of the Interior and Local Government (DILG), the National Economic and Development Authority (NEDA), Megaworld Corporation, and the China Banking Corporation in the Republic of the Philippines.
In addition to his civic and corporate pursuits, his forward-thinking approach has led him to manage several prominent websites in the banking and finance sector, notably the Australia-based RateChoice, where he immersed himself in the world of emerging financial technologies and where he found particular interest in Bitcoin all the way back to 2013.
Prior to his addition to Blockzeit’s dynamic team, he held an essential role as Project Manager for initiatives encompassing blockchain, stablecoin, mining, special economic zone development, and iGaming. This noteworthy chapter in his career unfolded under the auspices of InPlan Consultancy Services, Inc., the think-tank of IMPERO Consortium Management Corporation headquartered in Manila, Philippines, and Tokyo, Japan. InPlan, led by a distinguished retired Cabinet member of the Philippines, collaborates directly with IMPERO’s core management team, contributing to strategic planning and business development endeavors.