Swiss bitcoin app relay raises $4.5 million led by Jeff Booth’s ego Death Capital
Funding will be used to support retailBitcoin-Extend on-ramp of the platform in Europe, fee-free trading, support for Lightning and add more.
Relai, a Swiss non-custodial bitcoin platform, has announced a $4.5 million funding round led by Ego Death Capital.
New investors include Timechain, Cabrit Capital and Lightning Ventures, while participating firms Redalpine and Fulgur Ventures are both previous investors.
In addition to this news, the company announced that Andi Pitt, General Partner of Ego Death Capital, will join Relay’s board of directors.
“The current bear market is the perfect time to focus on what matters most: building a world-class product, providing a seamless user experience, and educating people about Bitcoin as the best savings technology ever invented,” said Relai CEO and co-founder Julian Liniger. “Our team is hungry for what lies ahead and we have a crystal clear plan that we will execute on over the coming months. With Ego Death Capital and the amazing network around Jeff Booth, Andi Pitt and Nico Lechuga we are ready to bring Bitcoin to everyone in Europe!”
The funding will be used for further expansion as a retail bitcoin on-ramp in Europe. Relai currently plans to add fee-free trading, implement support for the Lightning Network, and launch a white-label product that will allow other companies to offer fiat-to-bitcoin trading. The recently launched relay business platform is also in focus.
“We were really impressed with Julian and the Relai team and their ability to deliver long-term value to users,” commented Jeff Booth, General Partner at Ego Death Capital. “We believe they will be a key player in Bitcoin adoption in Europe and look forward to working with them.”
Source: Crypto News Deutsch