KEYPOINTS:
- Hugely successful round has seen €2,159,470 invested by the Crowdcube community and private investors
- Relai marks the first time Crowdcube has played host to a fully regulated bitcoin fintech
- Relai has plans to scale its user base and add a number of features to its popular app
Zurich, 25 May 2022 - RELAI, the savings and investment app, has raised €2,159,470 in its latest funding round.
After a strong private phase, which saw €1.2m invested by the likes of Redalpine, more than 850 investors have joined the table, contributing an additional €970,000, surpassing Relai's target of €1.5m 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 when it comes to taking 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."
About Relai
Relai is an app on a mission to become Europe's easiest and quickest way of buying and saving bitcoin. Founded in Switzerland by Julian Liniger and Adem Bilican after they struggled to find a safe, hassle-free space for buying bitcoin, Relai is making bitcoin saving and investment accessible for everyone. The bitcoin-only app is designed to be simple and intuitive, enabling anyone in Europe to buy and sell bitcoin within minutes, with no need for registration, verification or deposits. Independently audited and with over 50 million CHF of bitcoin invested through its platform, Relai is giving consumers the chance to unlock new means of saving and investing.
About Crowdcube
The European marketplace for retail investment into private companies, Crowdcube enables entrepreneurs to raise finance with the added benefit of being backed by their community. For investors, Crowdcube provides a way to hand-pick a stake in an innovative business they believe in that traditionally would have been restricted to professional investors.
Since it was founded in 2011, Crowdcube has funded over 1,300 deals. With over one million members, a total of £1.2bn has been invested on the platform to date.
Businesses that have successfully raised funds with Crowdcube include Revolut, Monzo, BrewDog, Citymapper, Cowboy, Freetrade (primaries and secondaries), and Pod Point (acquired by EDF).
