Relay raises $32.2M in a Series B round led by Bain Capital Ventures to accelerate product development

May 29, 2024•over 1 year ago

Amount Raised

$32.2 Million

TorontoBankingFinancial Services

Investors

Industry VenturesBain Capital Ventures

Description

Relay, the business banking platform for small businesses (SMBs), has announced the completion of a $32.2 million Series B financing round. This funding will accelerate product development in spend management, smart credit products, and a financial API marketplace, furthering the company's goal of delivering AI-powered predictive cash flow analytics to SMBs.

Company Information

Company

Relay Financial Technologies Inc.

Location

2 BLOOR ST W SUITE 1730

Toronto, Ontario, Canada

About

Relay Financial is a Toronto-based fintech startup founded by innovators Paul Klicnik and Yoseph West. The company's mission is to simplify the complex world of business finance by offering an all-in-one platform for businesses to gain a clear understanding of their finances.

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Funding Insights

Based on industry data

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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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