Relio startup co-founder of Penta raises over $ 3 million


Share post:

Relio, a Swiss SME banking startup founded by Lav Odorovic, the co-founder of German digital bank Penta, has raised over USD 3 million.

The company is introducing a digital payment account for business customers built on a platform designed to get around the compliance and regulatory obstacles that prevent similar businesses from succeeding.

When it comes to serving business customers, Odorovic claims that challenger banks’ anti-money laundering compliance issues have persisted as their weakest point.

The barriers put in place for business customers who must pay salaries and invoices on time will be removed by Relio’s automated compliance system. As soon as the financing round is over, the startup will continue to develop its tech stack and pursue a Finma Fintech license.

Read More: Penta co-founder raises €3 million for Swiss banking startup

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


Please enter your comment!
Please enter your name here


Related articles

Trading Technologies acquires ATEO to expand its post-trade solutions in global markets

Trading Technologies, a global capital markets technology company, has acquired ATEO SAS, a provider of post-trade solutions for...

Fiserv seeks to acquire Shift4 Payments – Reuters

According to Reuters, Fiserv is competing with Amadeus IT Group for the acquisition of payment processor Shift4 Payments. Shift4,...

Oliver Wyman announces acquisition of Innopay

Oliver Wyman, a management consulting firm and a Marsh McLennan business, has announced the completion of its acquisition...

How FinTech-Bank Partnership Can Redefine Digital Banking

As the digital payment ecosystem evolves, banks recognize the importance of partnering with FinTech companies. However, many of...