Full-Time
Confirmed live in the last 24 hours
Online banking platform for small businesses
No salary listed
Senior, Expert
Toronto, ON, Canada
Hybrid work environment with in-office collaboration required twice a week.
Relay Financial provides an online banking platform specifically designed for small businesses. The platform consolidates various financial transactions, including ACH transfers, wires, checks, and payouts from services like PayPal, Stripe, and Square, into a single interface. This allows business owners to easily track their cash flow and make informed financial decisions. Relay Financial partners with Thread Bank to ensure the security of client deposits, offering FDIC insurance coverage up to $3,000,000 and competitive annual percentage yields (APYs) ranging from 1.00% to 3.00%. The company operates on a subscription-based model, where clients pay a fee to access features such as income tracking, expense management, and automated bookkeeping. This focus on simplifying financial management sets Relay Financial apart from competitors, as it helps small business owners save time and concentrate on growing their businesses.
Company Size
201-500
Company Stage
Series B
Total Funding
$51.6M
Headquarters
Toronto, Canada
Founded
2018
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The Entreprenista 100 Awards highlights the Top 100 Women Business Owners of 2024NEW YORK, Feb. 3, 2025 /PRNewswire/ -- The Entreprenista League, a leading membership community for ambitious, entrepreneurial women, is excited to announce its call for applications for its third annual Entreprenista 100 Awards
To pave the way for expansion into new areas, such as spend management, credit, and financial APIs, Relay recently closed a $32.2 million Series B round led by Bain Capital Ventures with participation from BTV, Garage, Industry Ventures, and Tapestry.
To support expansion into new areas such as spend management and financial APIs, Relay closed a $24 million Series B round led by Bain Capital Ventures, bringing the total raised to $51.6 million.
Digital is a one-way street. And that street is being populated by B2B firms who aren’t looking back after embracing digital innovation to both compete in new markets while at the same time transform their existing commercial relationships. This digital shift is fostering a more agile and responsive business environment, where data-driven decision-making is paramount. It is also driving a cultural shift within organizations as they adopt a more collaborative, innovative and flexible mindset to unlock change-driven growth opportunities. The top themes PYMNTS heard this week were about embedded innovations, unlocking operational leverage with artificial intelligence (AI), small business transformations, and moving processes from analogue and manual to automated and digital
Half of U.S. small businesses operate with just 27 days of cash buffer—Relay's banking platform gives them tools to extend their runway.NEW YORK and TORONTO, May 29, 2024 /PRNewswire/ - Relay , the business banking platform that gives cash flow clarity to small businesses (SMBs), announced today the close of a US$32.2 million Series B financing round, led by Bain Capital Ventures. This brings Relay's total funding to US$51.6 million. The new financing accelerates Relay's product development in spend management, smart credit products and a financial API marketplace. It's the next step toward Relay's overarching goal of delivering AI-powered predictive cash flow analytics to SMBs.Relay Co-founders Yoseph West and Paul Klicnik (CNW Group/Relay)The funding comes after consecutive years of outsized growth—Relay's revenues rose 3x in 2022 and close to 6x in 2023—and a single-minded focus on the small business market."68% of U.S. small business owners have cash flow problems