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Full-Time

Software Engineer

Posted on 6/27/2024

Relay Financial

Relay Financial

51-200 employees

Online banking platform for small businesses

Fintech
Financial Services

Junior

Toronto, ON, Canada

Category
Full-Stack Engineering
Software Engineering
Required Skills
Agile
JavaScript
React.js
Node.js
Digital Ocean
TypeScript
AWS
Requirements
  • Minimum of 2 years of experience in software engineering
  • Experience with Javascript (Node.js, Typescript, React)
  • Working knowledge of AWS services and continuous deployment pipelines
  • Curious and always learning about the latest technologies
  • Ability to handle change and uncertainty
  • Team player and willing to collaborate
  • Self-starter, problem-solver, and creative thinker
Responsibilities
  • Be involved in the full development lifecycle
  • Manage infrastructure development and operations
  • Develop testing strategies
  • Participate in agile project planning
  • Identify and prioritize improvements to processes and codebases
  • Collaborate with internal teams

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

44%

2 year growth

151%
Simplify Jobs

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.
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