Swiss Bitcoin Investment App Relai Raises $2.7M

Switzerland-based bitcoin investment app Relai has raised more than $2.7 million in the Series A round and is now looking to set up its own brokerage firm. Relai, a Switzerland-based app designed to facilitate bitcoin investment in Europe, has announced a 2.5 million Swiss franc (approximately $2,778 million) increase in Series A funding led by Swiss venture capital firm Redalpine. . According to a Relai press release shared with Bitcoin Magazine, "The capital injection will be used to establish Europe's leading bitcoin brokerage and obtain a financial brokerage license." “The new round of funding will allow Relai to set up its own broker for efficient order processing and offer new offers to investors looking to buy large amounts of bitcoin.” In addition to Redalpine, Polytech Ventures, Fulgur Ventures, and ACE & Company contributed to Series A. Relai was launched in July 2020 and has been downloaded more than 23,000 times since its launch and is actively used by over 10,000 dating. customers. Following this funding and the potential to build their own brokerage capabilities, Relai hopes to give users the ability to transfer bitcoin directly to wallets of their choice; this is a critical feature that someone needs to transfer bitcoin over the network. buy the platform to really "own" it. . “We want to help accelerate the mass adoption of crypto by facilitating access to the major currency bitcoin,” said Siad Peter Niederhauser, co-founder and partner of Redalpine. “We look forward to being part of the journey and supporting this exceptional early-stage Swiss initiative in achieving global success.”

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