Bitcoin savings app Relai welcomes €1.2m in private investment ahead of public raise on Crowdcube
RELAI, the savings and investment app making bitcoin accessible for everyone, is running its first raise via Crowdcube - marking the first time the crowdfunding platform has played host to a regulated bitcoin startup.
Founded by Julian Liniger and Adem Bilican, Relai is headquartered in Switzerland. Since its launch in 2020, Relai has gone from strength to strength, and currently boasts more than 24,000 active users across Europe.
The private phase of the raise saw more than €1.2m invested, with Relai’s lead VC investor, Redalpine, investing again. Other seed stage investors included Polytech Ventures, Fulgur Ventures and ACE & Company.
Crowdcube investors can invest from as little as €10, and will receive common shares in the business. Investors will receive an update on the company's performance every quarter.
In addition, Relai is giving those who invest €5,000 or more 0% fees on transactions on the Relai app.
The public Crowdcube raise is open to investors on 3 May 2022 and will close w/c 30 May 2022.
How will Relai use the funding?
Relai will be using the funds raised in this round to further scale its user base across Europe, where it currently has users in 40 different countries.
Elsewhere, Relai has plans to make buying bitcoin even quicker and simpler, in particular for those who are new to what is the original and most popular cryptocurrency.
Relai also has soon-to-be-announced plans to launch additional features which will expedite bitcoin’s transition to the mainstream.
Julian Liniger, CEO and Founder of Relai, 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.”
Dr. Harald Nieder, General Partner at Redalpine said:
“We first invested in Relai in 2021, and didn’t hesitate to add to our commitment when we were given the opportunity this time around.
“In the past months, we have seen great performance to reach several milestones, fantastic new additions to the team and speedy execution - we’re excited to be on the journey with the Relai team and welcome the new investors joining us at the table.”
Pepe Borrell, VP of international at Crowdcube, said:
“Relai joins the wave of European fintechs keen to champion inclusion by putting it at the very core of the business by turning their customers into shareholders – having them on their cap table. We’re really excited to support our first Swiss fintech to reap the benefits of a Crowdcube raise, such as driving engagement, loyalty and advocacy from their communities.”
