The funding will be used to expand the on-ramp Bitcoin retail platform in Europe, add fee-free trading, support for Lightning and more.
Relai, the 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 the Relai board.
“The current bear market is the right time to focus on what’s most important: building the highest quality products, providing a smooth user experience, and educating people about Bitcoin as the best savings technology we’ve ever seen,” said CEO and co-founder of Relai. . Julian Linger. “Our team is hungry for what to do, and we have a clear plan that will be implemented in the coming months. With the capital of ego death and a great network around Jeff Booth, Andi Pitt, and Nico Lechuga, we are ready to bring bitcoin for everyone in Europe!
The funding will serve as further expansion as Bitcoin retail on-ramps in Europe. Relay now has plans to increase trading without fees, implement support for the Lightning Network and introduce a white label product that will allow other companies to offer fiat-to-bitcoin trading. Also in focus is the recently launched Relay Business platform.
“We have been really impressed by Julian and the Relay team and their ability to deliver long-term value to users,” commented Jeff Booth, general partner at ego death capital. “We believe they will be key players for European Bitcoin adoption and are happy to work with them.”