Relay is an online banking platform that enables small business owners to manage their cash flow through up to 20 individual checking accounts and two high-yield savings accounts, facilitating precise tracking of income, expenses, and savings. By automating fund allocation and integrating with accounting software like QuickBooks and Xero, Relay provides a clear overview of financial health, helping businesses make informed financial decisions.
Funding
$51.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many small business owners struggle with disorganized cash flow management, making it difficult to track income, expenses, and savings effectively. Traditional banking structures often lack the flexibility and tools needed for precise financial oversight, leading to poor financial decision-making.
Solution
Relay provides an online banking platform designed to give small business owners complete control over their cash flow. The platform enables users to create up to 20 individual checking accounts and two high-yield savings accounts, facilitating detailed tracking of income, expenses, and savings. By automating fund allocation and offering direct integrations with accounting software like QuickBooks Online and Xero, Relay delivers a clear, consolidated view of a business's financial health. This clarity empowers business owners to make informed decisions, optimize their spending, and save more efficiently. Relay also offers physical and virtual cards for team members and role-based user permissions to delegate financial tasks.
Target Audience
Relay primarily targets small business owners who need a more organized and transparent way to manage their cash flow and integrate their banking with accounting software.
Features
- Up to 20 individual checking accounts for segregating and managing funds
- Two savings accounts offering between 1.00% and 3.00% APY
- Physical and virtual debit cards for business owners and their teams
- Credit cards with 1.5% cash back
- Payments via ACH transfer, wire, and check
- Direct integrations with QuickBooks Online and Xero for streamlined bookkeeping
- Receipt capture and storage for organized expense tracking
- Role-based user permissions for secure delegation of financial tasks
- FDIC insurance up to $3M available for funds on deposit via Thread Bank
- Visa Zero Liability Protection
- Two-factor authentication and biometric security