Relai raises 12 million dollars

Relai has secured fresh capital of 12 million dollars in a Series A financing round, the Bitcoin platform announced in a press release. At 4 million dollars, ego death capital invested the highest single amount. Relai will use the funds raised to strengthen its expansion in Europe. The company aims to reach the 1 million user mark for its app next year. This would make Relai the market leader in Europe, according to the press release.

"We are very pleased that we were able to close this financing round despite the difficult market conditions," said Julian Liniger, founder and CEO of Relai, in the press release. "Our aim is to educate as many Europeans as possible about Bitcoin and introduce them to the system." The company expects to receive a MiCA license in France at the beginning of next year. It will enable the app to be "aggressively marketed to over 500 million users in the most important European markets", writes Relai. Last year, the company, which was founded in summer 2020, reported year-on-year user growth of over 300%. ce/hs