Relai announced raising €2.16m in its latest funding round

By Joy Dumasia

Relai, the savings and investment app, raised €2.16 million in its latest funding round. After a strong private phase, which saw €1.2 million invested by the likes of Redalpine, more than 850 investors have joined the table, contributing an additional €970,000, surpassing Relai’s target of €1.5 million by more than €600,000.

The funding round, which was Crowdcube’s first-ever fully regulated bitcoin FinTech, will allow Relai to continue expanding its user base across Europe, where the app has already been downloaded more than 100,000 times. Elsewhere, it has plans to increase the number of currencies people can use to invest in bitcoin, plus other exciting ambitions for product development, including a bitcoin debit card which rewards users with bitcoin every time they use it to make fiat purchases.

Founded by Julian Liniger and Adem Bilican in 2020, Relai is headquartered and fully regulated in Switzerland. With a mission to make bitcoin investment and saving possible for everyone, everywhere, Relai is leading the way to take bitcoin mainstream. Relai offered common shares within this round, plus gave those who invested more than €5,000 0% on transaction fees on the Relai app.

Julian Liniger, CEO and Founder of Relai, said: “We’re delighted with how the funding round has gone. Beating our target by almost €700,000 and welcoming more than 800 new investors to the table has been a highlight of the Relai journey so far. It’s obviously been an interesting time for the crypto sector recently, so we’re particularly pleased that so many investors have shown their confidence in our app and team, especially those who may not have been involved in the space before. And now, the hard work begins! We’ve got ambitious plans to scale our user base, plus will continue to innovate our app and products to give our users an even better experience. Massive thanks to the team at Crowdcube, who have been great partners as we’ve opened our doors to their community of investors.”

Recently, IBS Intelligence reported that Relai, the savings and investment app, has confirmed it has plans to launch a bitcoin debit card. The bitcoin savings app is currently raising via Crowdcube, where it hit its target of €1.5 million just two hours after going live. Since then, the Crowdcube community has jumped at the opportunity to invest, with more than €2 million invested with three weeks left to run on the raise.