Zurich - Relai has raised a total of 12 million US dollars in a series A funding round. The Zurich-based bitcoin platform plans to use the funds to expand in Europe. Relai hopes to become the market leader in this region in 2025.

Relai has secured 12 million US dollars in fresh capital in a series A round according to a press release from the bitcoin platform. The highest individual contribution of 4 million US dollars was made by ego death capital. Relai will use the raised funds to strengthen its expansion in Europe. It hopes to reach the one-million-user mark for its app next year. According to the press release, this would make Relai the market leader in Europe.

Julian Liniger, Founder and CEO of Relai, commented in the press release: “We are delighted to have concluded this funding round despite the difficult market conditions. Our aim is to raise awareness of bitcoin among as many Europeans as possible and introduce them to the system.” The company expects to receive a MiCA license in France at the start of next year. According to Relai, this would enable it to “market the app aggressively to more than 500 million users in the most important European markets.” The company, which was founded in the summer of 2020, recorded year-on-year user growth of more than 300 percent last year. ce/hs

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