Full-Time
Confirmed live in the last 24 hours
Online banking platform for small businesses
$140k - $170kAnnually
Senior
Remote in USA
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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 Size
201-500
Company Stage
Series B
Total Funding
$50.2M
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
BCV leads second round in Relay Financial, as smb-focused FinTech closes $44-million CAD Series B.
Startup targets profitability and $100-million USD run rate by end of 2025
Over the last three years, the crypto space has undergone massive upheavals. Alongside the boosting from stimulus packages in 2021, venture capital (VC) firms had invested $33 billion in crypto and blockchain startups.The following year, the Federal Reserve triggered a domino of crypto bankruptcies with its interest rate hiking cycle, starting from the Terra (LUNA) crash and culminating in the FTX Ponzi scheme collapse.The promise of DeFi lost its luster, not helped by over $3 billion lost in DeFi hacks during 2023. The ongoing Bitcoin bull run shows the lack of altcoin confidence as the so-called Altcoin Season is yet to manifest.In June 2023, BlackRock’s head of strategic partnerships, Joseph Chalom, noted that DeFi’s institutional adoption is “many, many, many years away”. However, there is a case to be made that the emerging AI narrative can fuse with blockchain technology and its applications.Taking in lessons from the previous cycle, what would that AI-crypto landscape look like?Laying the AI Foundation with Crypto ComposabilityLooking back, it is safe to say that “DeFi” was subsumed by companies on top of tokenized layers, such as Celsius Network or BlockFi, rendering DeFi into CeFi. These companies successfully drove crypto adoption as such, only to end up sullying the very word “crypto”.A renewed DeFi v2 should then focus on a superior user experience that doesn’t spark the demand for centralized companies to make it so. Most importantly, DeFi security must be fortified
Paul Klicnik and Yoseph West secure funding for Relay Financial. Find out more about their success story now!
The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.The reader should not assume that the information is accurate and complete.