Redalpine has led a CHF 2.5 million Series A round for Relai
We are excited to announce our new investment in Relai (Redalpine Capital IV) - Europe’s easiest bitcoin app. Redalpine led the CHF 2.5 million Series A round, with additional backing by Polytech Ventures, Bitcoin-focused Fulgur Ventures and ACE & Company.
Enabling mass adoption of bitcoin, and crypto in general, is a central theme for us in financial technology. Adoption is suffering from complexity of access and usage, lack of trust and shortage of ancillary services. Relai is on exactly that mission to make investing in and using bitcoin easy and user friendly.
The Relai app enables users to invest in bitcoin within minutes, using their own bank account and without additional deposits or registration. The capital injection will enable Relai to build a proprietary broker for efficient order processing and provide new offerings for investors looking to buy large amounts of bitcoin. With its own brokerage capabilities, Relai 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 Zurich-based startup launched in July 2020, the Relai app has been downloaded over 23,000 times and is actively used by more than 10,000 paying customers, making it one of the fastest-growing bitcoin startups in Europe. The early success of the company can be attributed to the simplicity and ease of use of the Relai app, which has made it a popular choice among first-time bitcoin buyers.
Peter Niederhauser, Founding Partner at Redalpine commented: "We are impressed by the dedication, hard work, and rapid growth that the young Relai team has demonstrated in the last year. We want to help accelerate the mass adoption of crypto by easing access to its leading currency, Bitcoin. We look forward to being part of the journey and to supporting this exceptional Swiss early-stage startup in achieving global success."
We are very excited to welcome Relai to the Redalpine family and look forward to supporting Relai in its continued growth.
For more information, visit Relai’s website and read this Startupticker or Bitcoin Magazine article.