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Bitcoin app Relai announces USD 4.5 million investment

Wednesday 8 March 2023 15:28 CET | News

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

Other investors include Timechain, Cabrit Capital, and Lightning Ventures. Additional investment round participants include Relai's lead investor Redalpine and seed-stage investor Fulgur Ventures, both of whom made reinvestments. 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 planned

Proceeds from this round will go towards strengthening Relai's position as a Bitcoin-only startup in Europe. The startup plans to offer lead-free Bitcoin trading, integrate Bitcoin Lightning functionalities, and launch a white-label offering that will allow other fintechs to offer fiat-to-bitcoin trading soon. Additionally, the company recently expanded its service to cater to small and medium-sized businesses (SMEs) that can add Bitcoin to their balance sheets with the launch of Relai Business.

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

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

Relai’s features

Relai allows users to easily buy and store Bitcoin and the app comes with a non-binding Bitcoin wallet that gives users full control of 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. Relai’s aim is to enable consumers to find new ways of saving and investing. Over CHF100 million have already been invested in Bitcoin through the platform.

How investments work

Users can input the amount of money they want to invest which can start at as little as 10EUR/CHF and go all the way up to 1000 CHF per day and 100,000 CHF per year. Customers can also select how often they would like to purchase Bitcoin, and can decide between making a single purchase or setting up a weekly or monthly auto-invest plan. Following this selection, users insert the IBAN they will be paying from and a referral code, if they have one. Lastly, Relai users must go to their online banking app and create a bank transfer using the details they see on the screen in the Relai app.

Source: Link


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Keywords: financing , cryptocurrency, Bitcoin, investment
Categories: DeFi & Crypto & Web3
Companies: Relai
Countries: Switzerland
This article is part of category

DeFi & Crypto & Web3

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Relai

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