Bitcoin savings app Relai collected €1.2m in private funding, ahead of its crowdfunding campaign.
The investment was led by Redalpine, with commitments also coming from Polytech Ventures, Fulgur Ventures and ACE & Company.
Relai is launching a crowdfunding campaign on Crowdcube on 3 May and will run until 30 May. Investors can contribute from as little as €10, but those that invest €5,000 will receive 0% fees on transactions via the Relai app.
With the capital raised, Relai plans to scale its user base across Europe and build new products to make buying bitcoin even easier and quicker. It is also looking to launch a new feature that will expedite bitcoin’s transition to the mainstream.
Switzerland-based Relai was launched in 2020 and already has 24,000 active users across Europe. Through its mobile app, users can buy and sell bitcoin and establish automatic savings plans.
Relai CEO and founder Julian Liniger said, “We’re really excited to be working with Crowdcube to help unlock the next phase of our growth. Our journey to date, paired with our exciting roadmap for the future, means there’s never been a better time to invest in Relai.
“The private phase of the Crowdcube raise has seen our lead VC investor, Redalpine, doubling down on their seed investment with us, whilst we’ve also had support from other leading European and US investors.
“We can’t wait to open our doors to the Crowdcube community and welcome thousands of Relai users and fans as shareholders on our journey.”
Copyright © 2022 FinTech Global
