Walder Wyss on Relio’s pre-Seed round
Walder Wyss advised on Relio’s pre-Seed round. Relio is a startup developing the first Swiss digital bank account specifically for SMEs with a technology platform which will allow compliance to be largely automated. It was launched in December 2020 by Lav Odorovic, who previously built the German challenger bank Penta as founder and CEO.
Lead investors in the CHF 0.7m pre-seed round were SIX FinTech Ventures, the CHF 50 million VC arm of Swiss financial market infrastructure provider SIX, and High-Tech Gründerfonds (HTGF), a seed investor with a volume of around EUR 900 million spread across three funds and an international partner network supporting more than 600 startups since 2005. Relio plans to use the funds from the investment round to expand its technical infrastructure so that everything is ready for market launch by the time the fintech license is granted.
Walder Wyss acted as transaction counsel with a team co-led by Boris Räber (Managing Associate, Corporate/M&A) and Rafael Zemp (Managing Associate, Corporate/M&A) and further included Maurus Winzap (Partner, Tax), Timon Nydegger (Associate, Corporate/M&A), Benno Fischer-Siddiqui (Associate, IP/IT) and Yves Hürlimann (Trainee, Corporate/M&A).