Swiss-based cryptocurrency app Relai has secured US$12 million in funding to drive its enlargement throughout Europe.
The funding was led by ego demise capital with participation from Plan B Bitcoin Fund, Timechain, and Solit Group.
The closely oversubscribed funding spherical will allow Relai to reinforce its platform, streamline the Bitcoin shopping for course of, and educate customers on the advantages of the crypto as a financial savings instrument.
Relai additionally shared its plans to acquire the Markets in Crypto-Belongings Regulation (MiCA) license to achieve entry to a possible person base of 400 million.
The corporate has reported vital development, with a 300% year-on-year improve in person adoption, and is on observe to succeed in 1 million downloads by 2025.
Based by Julian Liniger and Adem Bilican in 2020, Relai’s self-custody characteristic permits customers to independently handle their Bitcoin whereas simplifying the shopping for course of.
Jeff Sales space, Founding Accomplice at ego demise capital, mentioned,
“Julian and Adem have constructed an unimaginable crew and platform by focusing relentlessly on long-term worth to customers – serving to them to each perceive Bitcoin and to purchase it safely and securely.
They’re already a European chief and are properly positioned to turn into a family title.”
Featured picture credit score: Edited from Freepik
