According to a report by Venture Lab, Relai, a platform for buying and selling Bitcoin, has raised $4.5 million in a funding round led by Ego Death Capital, a venture firm focused on Bitcoin companies. Timechain, Cabrit Capital, Lightning Ventures, and existing investor Fulgur Ventures also participated in the round.
With the funds, the company plans to strengthen its position in Europe by expanding its services with zero-fee trading and launching a white-label product that enables other FinTechs to offer fiat-to-Bitcoin trading. The company has also recently launched Relai Business, a service aimed at attracting small and medium-sized enterprises (SMEs) looking to add Bitcoin to their balance sheet.
Relai, based in Switzerland, offers a non-custodial Bitcoin wallet and allows users to easily buy and sell the digital currency. The company’s CEO and co-founder, Julian Liniger, stated that the current bear market is the perfect time to focus on building a top-notch product, delivering a seamless user experience, and educating people about Bitcoin as the best savings technology ever invented.
As part of the funding round, Andi Pitt, founding partner of Ego Death Capital, will join Relai’s board. Liniger said, “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 and Adem Bilican founded Relai in Switzerland after encountering difficulties finding a safe and user-friendly platform to buy Bitcoin. The Bitcoin app is designed to be easy to use, enabling anyone in Europe to buy and sell Bitcoin within minutes without the need for registration, verification, or deposit.
Relai’s platform has been independently verified, and users have invested over 50 million CHF in Bitcoin through the platform. This provides consumers with the opportunity to explore new ways of saving and investing. The platform is simple and intuitive, making it easy for users to navigate and invest in Bitcoin, regardless of their level of experience with cryptocurrencies.