Advoro advises Swiss Fintech Relio in its seed financing round
Swiss Fintech Relio secures CHF 3 million in financing for the launch of a digital payment account for business customers. With its newly developed compliance technology, the startup specializes primarily in complex corporate clients.
The Fintech startup is developing the first Swiss digital account specifically for SMEs with a technology platform that allows compliance to be largely automated. The startup was launched in December 2020 by Lav Odorovic, who previously founded the German challenger bank Penta and acted as its CEO. The company has completed a pre-seed financing round in 2021.
The investors in the CHF 3 million seed round include TX Group, SIX Group and High-Tech Gründerfonds (HTGF). The company aims to advance the development of the tech stack and obtain a FINMA Fintech license and also will use the funds from the investment round to initiate operations as a Fintech company.
Advoro acted as transaction counsel. The team included inter alia Rafael Zemp (corporate, m&a, pictured), Alexander Eichhorn and Kevin Kleger.