HomeCanadaRelay Raises US$32.2M in Series B Funding

Relay Raises US$32.2M in Series B Funding

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Relay
Relay Co-founders Yoseph West and Paul Klicnik (CNW Group/Relay)

Relay, a Toronto, Canada-based provider of a business banking platform, raised US$32.2M in Series B funding.

The round, which brought the total amount to $51.6M was led by Bain Capital Ventures. Other investors included BTV, Garage, and Tapestry, with new participation from Industry Ventures.

The company intends to use the funds to accelerate its product development in spend management, smart credit products and a financial API marketplace.

Led by Yoseph West and Paul Klicnik, Relay is an online banking platform that puts business owners in complete control of their cash flow and makes it easy to understand precisely what they’re earning, spending and saving. Last summer, it became the official banking platform for Profit First. Created and authored by serial entrepreneur Mike Michalowicz, Profit First is a behavior-based cash management methodology and book—with over 1 million copies sold—that teaches SMBs better financial habits.

FinSMEs

29/05/2024

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