Relay, a forward-thinking business banking and money management platform, has announced the successful closure of a $32.2 million Series B funding round, spearheaded by Bain Capital Ventures. This significant funding will drive Relay’s efforts to provide small business owners with greater control over their cash flow, addressing critical financial challenges.
Empowering SMEs with Cash Flow Clarity
Relay’s platform is designed to empower business owners by simplifying the management of earnings, expenses, and savings. CEO Yoseph West highlights the pressing cash flow issues faced by 68% of US small businesses, stressing the importance of having the right tools to manage these financial hurdles. Relay’s innovative approach pairs financial services with advanced software, delivering a comprehensive solution that enhances everyday operations.
Strategic Expansion and Innovation
With the recent launch of its credit card, Relay is set to utilize the new funding to introduce advanced spend management and smart credit products. Additionally, the company plans to develop a financial API marketplace, further solidifying its position as a leader in SME banking solutions.
This latest funding round underscores the confidence investors have in Relay’s vision and the critical role it plays in the financial health of small businesses.
For more information on Relay’s ground breaking solutions, visit Relay.
