Relay announced a $50 million growth investment from General Catalyst through its Customer Value Fund. The financing is designed to help Relay accelerate customer acquisition while continuing to invest in product innovation.
The company said the financing comes as it surpasses $1.3 billion in managed customer deposits through Thread Bank, Member FDIC, and serves more than 150,000 small business customers across the U.S. Since raising its $32.2 million Series B round in May 2024, Relay said it is on track to grow revenue by 3.2x by the end of 2026.
Relay positions itself as a financial command center for small businesses by combining banking, expense management, bill payments, invoicing, and capital access into a single platform. The company said many small businesses continue to rely on fragmented legacy financial tools that create poor visibility into cash flow and slow decision-making during periods of economic uncertainty.
The company recently launched Relay Capital term loans, which provide small businesses with direct financing on the Relay platform. Relay said the new investment from General Catalyst will primarily support customer acquisition efforts and continued platform expansion.
Relay said its platform is designed to help entrepreneurs gain better cash flow visibility and make more informed financial decisions. The company describes its mission as helping self-made entrepreneurs build stronger and more resilient businesses through improved financial management tools.
General Catalyst said the investment reflects confidence in Relay’s ability to address the needs of small business owners with a product that resonates strongly in the market. General Catalyst’s Customer Value Fund provides growth financing intended to help companies scale without sacrificing investment in product development.
KEY QUOTES:
“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. 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.”
Yoseph West, Co-Founder and CEO, Relay
“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.”
Andrew Ziperski, Partner, General Catalyst Customer Value Fund
