Zurich-based Relai, a Bitcoin-only app, announced recently that it has secured $12M (approximately €11M) in a Series A funding round led by ego death capital.
Other investors include Timechain, SOLIT Group AG, and Plan B Bitcoin Fund.
The company will use the funds to accelerate Bitcoin adoption across Europe. Additionally, the company is working on securing the MiCA license.
“This will make us one of Europe’s first fully compliant Bitcoin-only platforms, opening the door to 400 million potential users across the EU,” says the company in the blog post.
The announcement comes as the Swiss company is witnessing a 300 per cent year-on-year growth in user adoption and is on track to hit 1M downloads in 2025.
Relai: Bitcoin-only app
Julian Liniger and Adem Bilican founded Relai in 2020 after they struggled to find a safe, hassle-free space for buying Bitcoin.
The Bitcoin-only app is designed to be simple and intuitive, enabling anyone in Europe to buy and sell Bitcoin within minutes.
Relai is a Swiss-licensed financial service provider with over $500 million in trading volume.
The investor
ego death capital is a Bitcoin ecosystem venture fund investing in Bitcoin layer 3 projects. The company leads and participates in rounds from pre-seed to Series A.
Jeff Booth, Founding Partner at ego death capital, says, “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.”
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