The funding round was led by Addition Capital with the participation of the investment firms Ribbit Capital and Spark Capital.
Relay Payments, which provides an end-to-end solution for electronic payments, informed that it currently processes more than 150,000 transactions each month, totalling more than USD 300 million in volume annually. The company stated that the recent funding will be used to accelerate growth, develop new products, and expand the Relay team, including a new headquarters in Atlanta.
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