Relay - About the company
Relay is a series C company based in Toronto (Canada), founded in 2018 by Yoseph West and Paul Klicnik. It operates as a Digital business banking platform that helps small businesses manage cash flow with multi-account structures. Relay has raised $102M in funding from investors like Bain Capital Ventures, General Catalyst and Better Ventures. The company has 346 active competitors, including 32 funded and 18 that have exited. Its top competitors include companies like Brex, Tide and Mercury.
Company Details
Digital business banking platform that helps small businesses manage cash flow with multi-account structures. It lets businesses create multiple checking and savings accounts to organize cash flows by purpose—such as payroll, taxes, income, and operating expenses—giving owners clearer visibility and control over spending. It includes tools for issuing debit and credit cards, setting spending limits, automating expense categorization, managing payables and receivables, and integrating with accounting systems. It also offers savings features and cash management workflows intended to help businesses build reserves and improve financial discipline.
- Website
- relayfi.com
- Social
- Email ID
- *****@relayfi.com
- Phone Number
- +1 **********
- Registered Address
- 202 - 25 E. 6th Avenue, Vancouver
Key Metrics
Founded Year
2018
Location
Toronto, Canada
Stage
Series C
Total Funding
$102M in 4 rounds
Latest Funding Round
Investors
Ranked
5th among 346 active competitors
Employee Count
362 as on May 31, 2026
Legal entities associated with Relay
Relay is associated with 2 legal entities given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
KOHO FINANCIAL INC. CIN: 10353876 , Canada, Active | Aug 04, 2017 | - | - | - |
Relay Financial Technologies Inc. CIN: 11040880 , Canada, Active | Oct 12, 2018 | - | - | - |
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Relay's funding and investors
Relay has raised a total funding of $102M over 4 rounds. Its first funding round was on Oct 19, 2020. Its latest funding round was a Series C round on May 19, 2026 for $*****. 1 investor participated in its latest round. Relay has 14 institutional investors.
Here is the list of recent funding rounds of Relay:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
May 19, 2026 | 2650629 | Series C | 5327568 | 2666507 | 8609804 | 8633757 |
Feb 06, 2024 | 2446350 | Series B | 6599381 | 7569515 | 1852934 | |
May 13, 2021 | 7306398 | Series A | 6246796 | 3785590 |
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Relay's founders and board of directors
Founder? Claim ProfileHere are the details of Relay's key team members:
- Yoseph West: Co-Founder & CEO of Relay. They serve on the board of 1 company.
- Paul Klicnik: Co-Founder & VP Engineering of Relay. They serve on the board of 1 company.
Relay's Board of Directors
Relay's board has 2 active members. Yoseph West and Paul Klicnik are independent board members.Here is the list of Relay's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Independent board member | - | Current | 7y 7m | |
hticrgw | Independent board member | - | Current | 5y 9m |
View details of Relay's Founder profiles and Board Members
Relay's employee count trend
Relay has 362 employees as of May 26. Here is Relay's employee count trend over the years:
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Relay's Competitors and alternates
Top competitors of Relay include Brex, Tide and Mercury. Here is the list of Top 10 competitors of Relay, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Brex 2017, Draper (United States), Acquired | Provider of financial software platform, cards, banking, expense, and accounting | $1.2B | 85/100 | |
2nd |  Tide 2015, London (United Kingdom), Series C | Provider of digital business accounts and financial management software tools | $181M | 83/100 | |
3rd | Mercury 2017, San Francisco (United States), Series D | Provider of a comprehensive online platform offering a range of financial services | $546M | 83/100 | |
4th | BlueVine 2013, Redwood City (United States), Series F | Provider of business checking accounts, business loans, and business credit cards | $288M | 80/100 | |
5th | Digital business banking platform that helps small businesses manage cash flow with multi-account structures | $102M | 76/100 | ||
6th |  OakNorth Bank 2015, London (United Kingdom), Series C | Digital bank empowering entrepreneurs and savers with smart tools | $962M | 74/100 | |
7th | Grasshopper Bank 2016, New York City (United States), Acquired | Provider of online internet first business bank | $219M | 72/100 | |
8th |  Novo 2016, Miami (United States), Series C | Provider of a partnership-based digital banking platform | $298M | 69/100 | |
9th | _1571204564284.png?devicePixelRatio=2&height=30&width=30){kind=logo} Rho Business Banking 2010, New York City (United States), Series B | Developer of a digital bank for businesses | $235M | 68/100 | |
10th |  Found 2019, San Francisco (United States), Series B | Accounting and bookkeeping management solutions for small businesses | $119M | 67/100 |
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Relay's Investments and acquisitions
Relay has made no investments or acquisitions yet.
Reports related to Relay
Here is the latest report on Relay's sector:
News related to Relay
Filter this listMedia has covered Relay for a total of 5 events in the last 1 year, 2 of them have been about company updates and 1 about partnerships.
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TA and Relay Payments Partner to Launch Fraud‑Free Digital Fuel Payments in the U.S.Global Fintech Series•Dec 02, 2025•Relay Payments, TravelCenters of America, Relay, BP Ventures
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Self-Made Success: Small Businesses Surpass $1 Billion in Managed Deposits in RelayFintech Finance•Aug 14, 2025•Thread Bank, Relay
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Plural VC leads £27m investment in logistics startup RelayUKTN•Feb 27, 2025•Relay, Plural, Project A, Prologis
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End-to-end delivery service Relay raises $35M in Series A fundingStartup Log•Feb 27, 2025•Relay, Plural
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Fintech Relay Reports $32.2M Series B Round to Assist SMBs with Maintaining OperationsCrowdfund Insider•Jun 04, 2024•Relay, Bain Capital Ventures
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Relay secures USD 32.2 million in Series B roundThe Paypers•May 30, 2024•Relay, Bain Capital Ventures
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Relay Closes Sizeable Series B Round to Empower SMBs with Cashflow InsightFintech.ca•May 30, 2024•Relay, Bain Capital Ventures
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Relay raises $24 million to help smaller businesses manage their cashflowTechCrunch+•May 29, 2024•Relay
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