Toronto-born fintech Relay Financial has raised $50 million from General Catalyst’s Customer Value Fund to expand its business banking platform. Relay serves more than 150,000 small businesses and manages over $1.3 billion in customer deposits.
Chief executive Yoseph West said the funding will help grow Relay’s brand and market reach, particularly among American entrepreneurs seeking cash flow clarity. The round follows a US$32 million financing led by Bain Capital Ventures in 2024. Relay recently launched term loans through Relay Capital, adding lending to its platform as demand for small-business financing rises.
Want to know more? Check out the source code on Fintech.ca.