Swiss-based cryptocurrency app Relai has secured US$12 million in funding to drive its expansion across Europe.
The investment was led by ego death capital with participation from Plan B Bitcoin Fund, Timechain, and Solit Group.
The heavily oversubscribed funding round will enable Relai to enhance its platform, streamline the Bitcoin buying process, and educate users on the benefits of the crypto as a savings tool.
Relai also shared its plans to obtain the Markets in Crypto-Assets Regulation (MiCA) license to gain access to a potential user base of 400 million.
The company has reported significant growth, with a 300% year-on-year increase in user adoption, and is on track to reach 1 million downloads by 2025.
Founded by Julian Liniger and Adem Bilican in 2020, Relai’s self-custody feature allows users to independently manage their Bitcoin while simplifying the buying process.
Jeff Booth, Founding Partner at ego death capital, said,
“Julian and Adem have built an incredible team and platform by focusing relentlessly on long-term value to users – helping them to both understand Bitcoin and to buy it safely and securely.
They are already a European leader and are well positioned to become a household name.”
Featured image credit: Edited from Freepik
