Relai's Bitcoin-only platform closes USD 4.5 million investment round

The non-custodial bitcoin platform Relai announced closed an investment round led by Jeff Booth's ego death capital. The TOP 100 startup will use the capital to further strengthen its position as Europe's leading bitcoin onramp.

There are several Bitcoin-only investment platforms targeted at retail investors, but Relai has been making its mark with its user-friendly interface, which makes bitcoin purchases accessible to anyone regardless of their technical skills. In addition, the mobile app offers an easy-to-use non-custodial bitcoin wallet, giving users full control over their funds.

The USD 4.5 million investment round was led by ego death capital. Additional investors are Timechain, Cabrit Capital, and Lightning Ventures. Also joining the round were Redalpine, leading Relai’s previous funding round, and seed-stage investor Fulgur Ventures, both investing again.

"The current bear market is the perfect time to focus on what’s most important: building a top-notch product, delivering a seamless user experience, and educating people about Bitcoin as the best savings technology ever invented. Our team is hungry for what’s ahead, and we have a crystal clear plan that we will execute in the coming months. 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, CEO and co-founder at Relai, commented.


Relai co-founders Julian Liniger (CEO) and Adem Bilican (CTO)

Proceeds from this round will go toward strengthening Relai’s position as a leading retail bitcoin-only on-ramp in Europe. The startup is planning to expand its services with zero-fee trading, upgrade to Lightning, and launch a white-label product that will let other fintech companies offer fiat-to-bitcoin trading. In addition, the startup has recently expanded its platform to attract small and medium-sized businesses looking to add bitcoin to their balance sheet with the January launch of Relai Business.

"We've been really impressed by Julian and the Relai team and their ability to deliver long-term value to users," said Jeff Booth, the general partner at ego death capital. "We believe they will be a key player for European Bitcoin adoption and are excited to work with them."

As part of the investment, ego death capital founding partner Andi Pitt will also join Relai's board. She was previously a Vice President, trading at Goldman Sachs New York. Ego death's other partners are serial tech entrepreneur Jeff Booth, and Nico Lechuga, a successful entrepreneur. Their advisory board includes big names in the global Bitcoin industry like Lyn Alden, Preston Pysh, and Pablo Fernandez.

Relai was named a TOP 100 Swiss Startup in 2022, making it one of the top ten fintech startups in Switzerland in the eyes of the TOP 100 expert jury. "I think it was a great signal for our network and investors that we have made it to the TOP 100 startups and top 10 fintechs in Switzerland," said Relai CMO Imo Babics. "We are very proud of it, and we want to do a lot better this year!"