Relai, a bitcoin (BTC) purchase, promote and self-custody utility, has raised $12 million Sequence A funding.
The Switzerland-based firm’s Sequence A was led by Ego Demise Capital, a bitcoin solely VC, which dedicated $4 million to the elevate. Different members included Plan B Bitcoin Fund, Timechain, and Solit Group.
Following the maxim of “not your keys, not your cash,” trusted self-custody has proved widespread in Switzerland, even amongst newcomers to crypto, in line with Relai, which has had over 400,000 downloads.
The plan is to make use of the brand new funding to broaden additional into Europe and turn out to be licensed below the brand new Markets in Crypto Property regime (MICA), Relai mentioned in a press launch.
“Regardless of the powerful market circumstances, our financing spherical was closely oversubscribed. This contemporary capital will massively speed up our development and help our mission to coach and onboard hundreds of thousands of Europeans to Bitcoin.” mentioned Julian Liniger, co-founder and CEO of Relai, in an announcement.
