Relio Secures €3M Financing Round to Facilitate Digital Payment Solutions for Business Customers
Relio, a Switzerland-based SME banking startup founded by Lav Odorovic—co-founder of German digital bank Penta—has successfully closed a €3 million financing round. The newly acquired funds will be allocated to further developing the company’s tech stack and obtaining a Finma Fintech license.The startup offers a unique digital payment account solution tailored to business customers in order to cope with regulatory and compliance barriers common in such circumstances. Relio’s automated compliance system facilitates timely salary payments and invoice settlements. The financing round has been supported by several prominent investors, including SIX Fintech Ventures, High-Tech Gruenderfonds, TX Ventures as lead investor, along with F10, Elsa Invest, daFUND and QBIT Capital, plus a number of business angels.
Summary
- Relio, a Swiss SME banking startup founded by Lav Odorovic, the co-founder of German digital bank Penta, has raised €3 million.
- Relio is launching a digital payment account for business customers founded on a platform built to overcome the regulatory and compliance barriers that hamper similar ventures.
- The venture is backed by SIX Fintech Ventures, High-Tech Gründerfonds, as well as TX Ventures as a new lead investor.
What regulatory and compliance barriers does Relio aim to overcome?
Relio aims to overcome regulatory and compliance barriers by developing an automated compliance system and obtaining a Finma Fintech license.You might also like this article: Baugenehmigungen sinken: Bundesregierungsziel von 400.000 neuen Wohnungen in Gefahr. Picture source: Nellia Kurme