Funding Round attributes
Zurich-based Relai, a Bitcoin-only app, has announced the successful completion of a $12 million (approximately €11 million) Series A funding round. The round was led by ego death capital, with additional participation from Timechain, SOLIT Group AG, and Plan B Bitcoin Fund. The funds will be used to support the company’s mission of accelerating Bitcoin adoption across Europe and securing regulatory compliance under the upcoming MiCA framework.
Founded in 2020 by Julian Liniger and Adem Bilican, Relai was created to provide a simple, intuitive, and secure platform for buying and selling Bitcoin. The founders, motivated by their own difficulties in finding a safe space for Bitcoin transactions, developed the app with a user-friendly interface aimed at simplifying access to cryptocurrency. Relai’s platform allows users in Europe to buy and sell Bitcoin within minutes and without complex registration procedures, setting it apart in the competitive cryptocurrency market.
Relai has quickly become a key player in the Bitcoin ecosystem, operating as a Swiss-licensed financial service provider. The company has achieved over $500 million in trading volume since its inception, demonstrating the platform’s growing popularity. Relai’s growth trajectory has been impressive, with a 300 percent year-on-year increase in user adoption. The company is on track to achieve 1 million downloads by 2025.
The $12 million funding will enable Relai to further expand its services across Europe. A key focus will be obtaining the Markets in Crypto-Assets (MiCA) license, a regulatory framework aimed at harmonizing cryptocurrency regulations across the European Union. The company views this as a significant step toward becoming one of Europe’s first fully compliant Bitcoin-only platforms. By securing this license, Relai aims to position itself as a trusted provider in the EU market, with access to 400 million potential users.
ego death capital, the lead investor, is a venture fund specializing in Bitcoin ecosystem investments. The firm supports projects across various development stages, from pre-seed to Series A, with a particular focus on Bitcoin layer 3 technologies. Jeff Booth, Founding Partner at ego death capital, praised Relai’s approach, stating, “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.”
Relai’s platform aligns with its founders’ vision of providing a hassle-free and secure space for Bitcoin transactions. The app’s simplicity and accessibility have contributed to its rapid adoption, making it a preferred choice for users across Europe. As Relai continues to scale, the company is committed to maintaining its focus on Bitcoin, emphasizing its belief in the cryptocurrency’s long-term potential.
The funding round marks a significant milestone for Relai as it works to expand its reach, enhance user experience, and strengthen regulatory compliance. With strong support from investors and a clear growth strategy, Relai is poised to play a pivotal role in driving Bitcoin adoption across Europe.
