Overview

Relai, a bitcoin (BTC) buy, sell, and self-custody application, has successfully completed a $12 million Series A funding round. The company, based in Switzerland, received significant backing from Ego Death Capital, a venture capital firm focused exclusively on bitcoin. This backer contributed a substantial $4 million toward the total funding.

Key Highlights

• The funding is earmarked for further European expansion and acquiring licensing under the new Markets in Crypto Assets (MICA) regulation.
• Relai has gained popularity in Switzerland, amassing over 400,000 downloads, driven by its focus on trusted self-custody solutions.

"Despite the tough market conditions, our financing round was heavily oversubscribed. This fresh capital will massively accelerate our growth and support our mission to educate and onboard millions of Europeans to Bitcoin," said Julian Liniger, co-founder and CEO of Relai.

Translation: "Despite the tough market conditions, our financing round was heavily oversubscribed. This fresh capital will massively accelerate our growth and support our mission to educate and onboard millions of Europeans to Bitcoin."