Switzerland-based Relai has raised CHF 2.5m ($2.7m) in its Series A round, which will help it expand in Europe.
The investment was led by Redalpine, with additional support coming from Polytech Ventures, Fulgur Ventures and ACE & Company.
The capital will be used to build its bitcoin broker in Europe and obtain a financial intermediary license.
Funds will also help the company to build a proprietary broker for order processing and provide new offerings for investors looking to purchase large amounts of bitcoin. The company is currently exploring features, including instant purchases, execution optimisation and direct delivery to the user-controlled wallet of choice.
The FinTech company enables consumers to invest into bitcoin through a mobile app.
Relai co-founder and CEO Julian Liniger said, “With our own broker, the Relai App will not only be the easiest, but also the most efficient way to buy & sell bitcoin in Europe. The whole team is proud and incredibly excited to receive backing from such top-notch venture capital investors like Redalpine, Polytech, Fulgur, and ACE, who understand our vision and trust us to deliver on our mission.”
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