Relio, a Zürich, Switzerland-based fintech company that offers SME customers a digital payment account, raised CHF3M in Seed funding.
Backers included TX Ventures, High-Tech Gründerfonds, and SIX Fintech Ventures, F10, daFUND, QBIT Global Ventures, and several business angels.
The company intends to use the funds to advance the development of the tech stack and work on obtaining a FINMA Fintech license.
Led by CEO Lav Odorovic, Relio is developing a digital payment account specifically for SMEs. The company’s technological platform allows compliance to be largely automated. As a result, complex companies can open a business account with a Swiss IBAN.
Odorovic previously built the German challenger bank Penta as founder and CEO.