The funds will be used to expand the platform’s Bitcoin retail on-ramp in Europe, add fee-free trading, support for Lightning, and more.
Relaya 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 companies Redalpine and Fulgur Ventures are previous investors.
In addition to this news, the company announced that Ego Death Capital general partner Andi Pitt will join Relai’s board.
“The current bear market is the perfect time to focus on what is most important: creating a top-tier product, providing a seamless user experience, and educating people about Bitcoin as the best savings technology ever invented,” said the CEO and co-founder of Relai. Julian Liniger. “Our team is hungry for what is to come and we have a very clear plan that we will execute in the coming months. With the ego death capital and the huge network around Jeff Booth, Andi Pitt and Nico Lechuga, we are ready to bring bitcoin to everyone in Europe!
The funding will go towards further expansion as a retail on-ramp for Bitcoin in Europe. Relai currently has plans to add fee-free trading, roll out support for the Lightning Network, and introduce a white-label product that will allow other companies to offer fiat-to-bitcoin trading. Also in the spotlight is the recently launched Relai Business platform.
“We have been very impressed with Julian and the Relai team and their ability to deliver long-term value to users,” said Jeff Booth, general partner at ego death capital. “We believe they will be a key player for the European adoption of Bitcoin and we are excited to work with them.”
