Relay Raises $50M in Funding Led by General Catalyst

The company plans to use the funding to strengthen its growth operations and accelerate customer acquisition.

Relay is redesigning business banking and money management through a single financial platform that helps small businesses manage cash flow and make faster, more confident decisions. The company recently launched Relay Capital term loans, allowing businesses to access funding directly through the platform.

The investment from General Catalyst supports Relay’s goal of giving entrepreneurs better financial tools to grow their businesses and increase the value they create.

Small business owners are facing increasing financial pressure due to supply chain delays, rising fuel costs, and labor shortages. Despite these challenges, many still rely on outdated and disconnected tools to manage payments, expenses, and invoices, making it difficult to make quick financial decisions.

Relay now manages more than $1.3 billion in customer deposits through Thread Bank, Member FDIC, and serves more than 150,000 small businesses with tools designed to improve cash flow visibility. Since raising its $32.2 million Series B round in May 2024, the company says it is on track to grow revenue by 3.2 times by the end of 2026.

Unlike a traditional equity funding round, CVF provides growth financing that helps companies expand without sacrificing investment in product development. Relay plans to use the funding to strengthen its growth efforts and accelerate customer acquisition.

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"Relay has proven its deep understanding of what small business owners actually need to succeed, with a product that clearly resonates based on the strength of its customer acquisition machine. We're excited to help them step on the gas with CVF and enable this next phase of growth," said Andrew Ziperski, Partner at General Catalyst, Customer Value Fund.

"Every dollar invested in Relay supports passionate folks who work hard to build their businesses and realize their ambitions. This investment is a vote of confidence in the true value we deliver to those self-made entrepreneurs, so they can put every dollar to work," said Yoseph West, Co-Founder and CEO of Relay. "This investment is the spark that will ignite our brand footprint and market presence, so that we can bring cash flow clarity to even more American small businesses."

About Relay

Founded in 2018 by Yoseph West and Paul Klicnik, Relay is a digital banking platform designed to help small business owners manage their finances more easily. The platform brings together accounts, cards, bills, invoices and funding tools in one place, giving businesses clearer cash flow visibility, and helping owners make stronger financial decisions.

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