TX Group joins Relio

The Relio AG has raised a total of 3 million Swiss francs from several investors in a financing round, informs the TX Group in a Communication. Your venture capital company, TX Ventures, acted as lead investor in the financing round. In addition to the TX subsidiary, which specialises in investments in fintechs, the financing round included. SIX FinTech Ventures and the High-Tech Gründerfonds involved.

Relio AG intends to use the funds to introduce a digital payment account for corporate customers. The Zurich-based fintech has developed an algorithm that performs compliance checks "quickly, accurately and automatically," even for large companies, according to the statement. This should help digital banks reduce the time required for due diligence when opening accounts for corporate customers.

Krzysztof Bialkowski, Managing Partner at TX Ventures, is excited about his company's entry into Relio. He firmly believes "Relio's experienced team is capable of shaping the future of SMB banking by automating and improving what is central to all banks: compliance," Bialkowski is quoted as saying in the release. "This will enable the startup to bring real innovation to the market by improving administrative processes and supporting even the most complex SME customers in Switzerland and abroad." hs

Author: hs, Café Europe
Image Source: Relio AG