General Catalyst's Customer Value Fund invests $50 million in Relay, enabling the company to accelerate customer acquisition while focusing existing investment on product innovation.
The investment comes as Relay surpasses $1.3 billion in managed deposits and 150,000 small business customers to become the obvious banking and money management platform for self-made small businesses.
Since Relay’s $32.2 million Series B in May, 2024, the company is on track to 3.2x its revenue by the end of 2026.
NEW YORK, May 19, 2026 — Relay (“Relay Financial Technologies, Inc.”), the small business banking1 and money management platform, today announced a $50 million growth investment by General Catalyst. The financing marks a growth inflection point for Relay. The company now oversees more than $1.3 billion in managed customer deposits through Thread Bank, Member FDIC, and is trusted by more than 150,000 small businesses to deliver cash flow clarity at a moment when it matters for main street. Since Relay’s $32.2 million Series B in May, 2024, the company is on track to 3.2x its revenue by the end of 2026.
Small business owners today are feeling financial uncertainty from multiple directions; supply chain delays, rising fuel costs, and a tight labor market are just some of the hurdles they face. And yet, most are still managing their money—e.g., bill payments, expense-tracking, and client invoices—using fragmented legacy tools that offer poor financial visibility and slow decision-making when speed is critical. Relay's recent financing enables the company to directly address this friction for main street. With this step forward, the company can deliver cash flow clarity to even more entrepreneurs across the U.S., and it takes its place as the modern financial command center for small businesses.
“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,” said Yoseph West, Co-Founder and CEO of Relay. “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."
The financing from General Catalyst’s Customer Value Fund (CVF) comes at a pivotal moment in Relay’s growth. Unlike a traditional equity fundraising round, CVF provides innovative growth financing that eliminates the growth-vs-burn tradeoff, allowing companies to accelerate while continuing to invest in exceptional products. The funds will support Relay’s growth functions to ramp up customer acquisition.
"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," said Andrew Ziperski, Partner at General Catalyst, Customer Value Fund.
Relay reimagines business banking and money management with a unified financial platform enabling cash flow control, and faster, more confident decisions. Most recently, the company launched Relay Capital term loans, giving small businesses frictionless access to capital all within Relay.2 The investment by General Catalyst marks the latest step on the company’s mission to equip self-made entrepreneurs with the tools they need to grow and claim a larger share of the economic value they help create.
About Relay:
Relay is digital banking built to give small business owners the tools and know-how to be great with money. By connecting accounts, cards, bills, invoices, capital, and more together in one place, Relay replaces financial guesswork with real visibility, helping owners turn cash flow from a constant source of stress into a signal they can use to run stronger, more resilient businesses.
For more information, please visit www.relayfi.com
About General Catalyst:
General Catalyst is a global investment and transformation company that partners with the world’s most ambitious entrepreneurs to drive resilience and applied AI.
We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond.
With offices in the U.S., Europe, and India, we have supported the growth of 800+ businesses, including Airbnb, Anduril, Anthropic, Applied Intuition, Commure, Glean, Gusto, Helsing, Hubspot, Kayak, Livongo, Mistral, Ramp, Samsara, Snap, Stripe, Sword, and Zepto.
For more: www.generalcatalyst.com, @generalcatalyst
1 Relay is a financial technology company and is not an FDIC-insured bank. Banking services not related to Relay Capital term loans are provided by Thread Bank, Member FDIC.
2Relay Term Loans are provided through Fundbox. Fundbox makes capital available to business through business loans originated by Lead Bank. California businesses: Fundbox makes business loans and lines of credit loans pursuant to California Financing Law license 60DBO-48774. All loans are subject to credit approval of a completed application and applicable terms and conditions. Approval timing is based on typical experience; actual decision and funding times may vary. Financing may not be available in all states and may be subject to local restrictions where applicable.
