Relai secures funding boost after stellar 300% growth in 2023

18.01.2024 15:51, Rita Longobardi

In a testament to its success, the Bitcoin-only app Relai has experienced a phenomenal 300% annual growth in 2023, coupled with an impressive milestone of 300,000 app downloads. Riding high on this positive momentum, Relai has recently attracted funding from Swiss and European investors. This fresh infusion of capital will drive Relai into an expansive phase, enabling the startup to diversify its product offerings and intensify its marketing endeavors.

Luzius Meisser, Bitcoin pioneer and co-founder of the Bitcoin Association Switzerland, and Jan Brzezek, Founder of Crypto Finance, joined investors like Jeff Booth's Ego Death Capital in a recent funding round for Relai.

Founded in 2020, Relai's relai.app allows instant Bitcoin transactions without registration or deposits, collecting 100,000+ users and 300,000 app downloads. Last year, it recorded USD 180 million in trading volume, marking a remarkable 300% growth.

Relai plans to diversify its offerings, release updates soon, and expand marketing in Switzerland. The startup aims for European expansion in 2025, starting with France, to secure the MiCA license for broader services. Richard Byworth, Partner at Syz Capital, joins the Board to guide Relai's European expansion with his 20+ years of financial experience. The team, currently at 21 members, plans to grow to 30 alongside a new European base in France.

Relai was ranked among the TOP 100 Swiss Startups in 2022 and 2023.


Relai's team