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Full-Time

Business Development Representative

Updated on 10/3/2024

Relay Financial

Relay Financial

51-200 employees

Online banking platform for small businesses

Fintech
Financial Services

Entry, Junior

Toronto, ON, Canada

Hybrid work environment requires in-office presence in Toronto twice a week.

Category
Business Development
Business & Strategy
Required Skills
Sales
Communications
Requirements
  • 1+ years of experience in a high-volume sales role (e.g. retail, staffing agency or previous BDR/SDR experience)
  • strong written and verbal communication skills
  • highly articulate via phone, email and face-to-face
  • strong work ethic with the confidence to work autonomously
  • receptive to constructive criticism and new sales strategies
  • hungry for growth, have a strong desire to achieve excellence and thrive in a competitive environment
Responsibilities
  • Ensure that qualified leads are prospected; you’ll schedule meetings with our Account Executives
  • Qualifying sales leads through calls and emails to learn more about what clients are looking for from a business banking provider
  • Pitching Relay by positioning relevant aspects of our product based on the needs of the small business owner
  • Scheduling a high volume of meetings with qualified leads through outreach; with a combination of inbound and outbound leads
  • Through your business discussions, you will collect relevant information to set up our Account Executives for success
  • Strategize with the Sales team to innovate and improve the overall efficiency of the sales processes

Relay Financial offers an online banking platform tailored for small businesses, consolidating various financial transactions like ACH transfers and payouts from services such as PayPal and Stripe into one easy-to-use interface. By partnering with Thread Bank, Relay Financial ensures secure deposits with FDIC insurance coverage up to $3,000,000 and provides competitive annual percentage yields (APYs). The platform operates on a subscription model, offering features like income tracking and automated bookkeeping, which simplifies financial management for business owners. The goal is to help small businesses optimize their financial operations and focus on growth.

Company Stage

Series B

Total Funding

$75.5M

Headquarters

Toronto, Canada

Founded

2018

Growth & Insights
Headcount

6 month growth

30%

1 year growth

70%

2 year growth

171%
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Simplify's Take

What believers are saying

  • Securing $44M CAD in Series B funding positions RelayFi for significant growth and product development, enhancing its market presence.
  • RelayFi's platform has shown impressive revenue growth, tripling in 2022 and nearly sextupling in 2023, indicating strong market demand and adoption.
  • The development of AI-powered predictive cash flow analytics could provide small businesses with advanced financial insights, further solidifying RelayFi's value proposition.

What critics are saying

  • The competitive landscape in FinTech is intense, with numerous startups and established players vying for market share, which could impact RelayFi's growth.
  • Reliance on partnerships, such as with Thread Bank, introduces dependency risks that could affect service continuity and customer trust.

What makes Relay Financial unique

  • RelayFi consolidates various financial transactions into one interface, offering a comprehensive view of cash flow, unlike traditional banks that often require multiple platforms.
  • Partnership with Thread Bank ensures FDIC insurance coverage up to $3,000,000, providing a higher level of security compared to many competitors.
  • RelayFi's focus on small businesses with features like automated bookkeeping and expense management sets it apart from general-purpose banking solutions.