Relai, a Zurich, Switzerland-based bitcoin app, raised CHF 2.5m in Series A funding round.
Backers included Redalpine, Polytech Ventures, Fulgur Ventures and ACE & Company.
The company intends to use the funds to build a proprietary broker for efficient order processing and provide new offerings for investors looking to buy large amounts of bitcoin.
Led by Julian Liniger, CEO, Relai provides an app that enables users to invest in bitcoin within minutes, using their own bank account and without additional deposits or registration. With its own brokerage capabilities, the company is also looking to provide features like instant purchases (price lock), optimizing execution, and direct delivery to the user-controlled wallet of choice (Relai or third-party).
Since the startup launched in July 2020, the app has been downloaded over 23,000 times and is actively used by more than 10,000 paying customers.