The funding will be used to expand the platform’s bitcoin retail in Europe, add zero-fee trading, support for Lightning and more.
Relaya Swiss non-custodial bitcoin platform, 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 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’s most important: building a top-notch product, delivering a seamless user experience, and educating people about Bitcoin as the best savings technology ever invented,” said the CEO director and co-founder of Relai Julian Liniger. “Our team is hungry for what lies ahead and we have a crystal clear plan to execute in the coming months. With the capital of ego death and the great network around Jeff Booth, Andy Pitt and Nico Lechuga, we are ready to bring Bitcoin to everyone in Europe!”
The funding will go towards further expansion as a retail bitcoin in Europe. Relai currently has plans to add zero-fee trading, implement support for the Lightning Network, and introduce a white-label product that will allow other firms to offer fiat-to-Bitcoin trading. The recently launched one is also in focus Relay Business platform.
“We’ve been really impressed with Julian and the team at Relai 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 the adoption of Bitcoin in Europe and we are excited to work with them.”
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