# Relay: Financial services, Toronto, Canada

> Relay: Relay is a financial technology company founded in 2018, offering a digital business banking and money management platform tailored for U.S.

Source: https://millionrounds.com/startup/relay-11 (Millionrounds; every figure on the page links to its filing or article)

Canada · [Financial services startup](https://millionrounds.com/companies)

# Relay

Relay is a financial technology company founded in 2018, offering a digital business banking and money management platform tailored for U.S.

Funding reported Last round: Series B

Financial services Toronto, Canada

Company summary

- **Founded:** 2018 8 years old
- **Team:** 270 201 to 1,000 people
- **Funding reported:** 51.6M as listed, currency not stated
- **Last round:** Series B Mar 2024

How sure we are

- ✓ **Listed** We know it exists and what it does
- 2 **Funding reported** A company dataset reports a raise
- 3 **Observed** A filing or a dated announcement confirms a round

No round for Relay has been confirmed by a filing or an announcement yet, so nothing here counts toward an investor's record. [How we decide](https://millionrounds.com/methodology)

## About Relay

Relay is a financial technology company founded in 2018, offering a digital business banking and money management platform tailored for U.S.

small businesses with 1 to 100 employees and their financial advisors. Headquartered in Toronto, Ontario, Relay partners with FDIC-member institutions to provide banking services, ensuring that deposits are FDIC-insured up to $250,000. Relay's platform includes various features such as FDIC-insured checking accounts, Relay Visa® Debit Cards for team spending, and tools for managing cash flow, invoicing, and bill payments. The company provides all-in-one plans that cater to different stages of business growth, allowing small businesses to gain clarity on their finances. Relay also facilitates collaboration between small businesses and their advisors, enhancing financial management. With a mission to empower small business owners, Relay has secured significant funding to expand its services and was recognized as a CIX Top 10 Growth Company for 2024.

## What company datasets say Relay raised

Funding, as reported

Reported in all **51.6M** in the source's currency

Rounds **3**

Last round **Series B**

Last round size **50M**

Last round date **Mar 2024**

Investors listed **10**

## On 7 portfolio pages

Investors who name them

- [Better Tomorrow Ventures](https://millionrounds.com/fund/better-tomorrow-ventures)
- [Tribe Capital](https://millionrounds.com/fund/tribe-capital)
- [Garage Capital](https://millionrounds.com/fund/garage-capital)
- [Tapestry VC](https://millionrounds.com/fund/tapestry-vc)
- [JCJ Capital](https://millionrounds.com/fund/jcj-capital)
- [Realm Capital Ventures](https://millionrounds.com/fund/realm-capital-ventures)
- [ABCapital](https://millionrounds.com/fund/abcapital)

Each firm lists Relay on its own website. That is the firm's claim, a weaker thing than a round we watched, but a named source.

## The company, in detail

What they build

Known for

multi-account management automated transfers business savings automation real-time tracking bookkeeping solutions consumers client banking business financial health profitability tracking virtual card spend policies financial management tools collaborative banking computer & network security small business cash flow tools receipt management ach transfers

Built with from their website

Plaid GitHub Actions Docker Amazon SES Amazon DynamoDB Amazon CloudFront OneTrust Tech Risk & Compliance Google Sheets Tableau dbt

+8 more

AWS Trusted Advisor Atlassian React Native Google Cloud Orum Google Ads Terragrunt YouTube

- **Sector:** Financial services
- **Industry code:** NAICS 522110, SIC 6021
- **Region:** Ontario
- **Revenue:** 35.3M a year, as listed
- **Full record:** [Every detail in the company directory](https://millionrounds.com/directory/relay-58aff5ef1c)

## How it ended, so far

Exit

Exit Buyer Price When

Acquired Kik $38M Nov 2014

## Financial services in Canada

Startups like it

- [**nesto** Montreal · founded 2018 *Raised*](https://millionrounds.com/company/nesto)
- [**Progressa** Vancouver · founded 2013 *Raised*](https://millionrounds.com/company/progressa)
- [**Lendified** Toronto · founded 2015 *Raised*](https://millionrounds.com/company/lendified)
- [**KOHO** Vancouver · founded 2014 *Raised*](https://millionrounds.com/company/koho)
- [**Helcim** Calgary · founded 2006 *Raised*](https://millionrounds.com/company/helcim)
- [**Borrowell** Toronto · founded 2014 *Raised*](https://millionrounds.com/company/borrowell)
- [**FundThrough** Toronto · founded 2014 *Raised*](https://millionrounds.com/company/fundthrough)
- [**Cybrid** Toronto · founded 2021 *Raised*](https://millionrounds.com/company/cybrid)

## Is this your company?

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