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Thursday, April 25, 2024

Relai’s Remarkable Growth: A Record Year for the Bitcoin Savings Plan App

Summary:
In the flourishing crypto market of 2023, Swiss Bitcoin savings plan provider Relai achieved an extraordinary growth rate of 300 percent. With Bitcoin’s surge exceeding 150 percent, the app garnered 300,000 downloads and a substantial $180 million annual trading volume. Relai recently secured a new financing round, including notable investors like Bitcoin pioneer Luzius Meisser and Jan Brzezek, founder of Crypto Finance AG. Despite market fluctuations, Relai remains focused on its mission to introduce Bitcoin to a broader audience.

Key Takeaways:

  1. Impressive Growth: Relai, a Bitcoin savings plan app, experiences a remarkable 300 percent growth in 2023.
  2. Market Popularity: The app gains popularity with 300,000 downloads and an annual trading volume of $180 million.
  3. Successful Financing Round: Relai secures a new financing round, valuing the company at $30 million, with support from notable investors.
  4. Ongoing Innovations: Relai integrates the Bitcoin Lightning network, with an anticipated update for German users in January.
  5. Market Influence: As a Bitcoin broker, Relai observes significant capital shifts from real estate to BTC, with 75 percent of OTC volume in Q4 2023 attributed to real estate sales.

In 2023, Bitcoin rose over 150 percent. The Bitcoin-only company Relai was able to ride the trend and presents strong growth figures. The Swiss Bitcoin savings plan provider Relai is running. According to company information, the start-up is recording growth of 300 percent for 2023.

The app is also becoming increasingly popular among BTC investors: Relai has been downloaded a total of 300,000 times in various app stores. Inspired by the positive year on the crypto market, customers are also putting more and more money into Bitcoin: the annual trading volume adds up to 180 million US dollars.

Of course, the positive numbers do not give Relai any reason to slow down. On the contrary: As the Zurich start-up reports, the company was able to complete another round of financing. Investors include: Bitcoin pioneer Luzius Meisser and Jan Brzezek, founder of Crypto Finance AG.

Old friends like Jeff Booth’s VC, Ego Death Capital and Lightning Ventures were also there. Relai CEO Julian Liniger is satisfied with the financial injection:

Despite the current downturn in the venture capital market, we are pleased to have secured this smart money financing […]. Your trust in Relai underscores the strength of our product and our team. This interim success motivates us to continue pursuing our mission in the long term and to bring Bitcoin closer to 100 million Europeans. Upon request, the start-up did not disclose how high the financing round was. The company’s valuation is $30 million.

Relai: When is the Lightning feature coming?

Meanwhile, Relai remains busy. Most recently, City Telegraph reported on the integration of the Bitcoin Lightning network into the non-custodial app.

We were able to test the feature in advance . It is unclear when German users will be able to use the Lightning feature. Upon request, the company informed us that there would be an update at the end of January.

As a Bitcoin broker, Relai also has its finger on the pulse of the market. As we reported in December 2023 , the company is registering massive capital shifts from real estate to BTC.

As the company tells , “75 percent of OTC volume in Q4 2023 comes from real estate sales.”

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