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Relay profile

Who owns Relay?

traditional · Toronto/US · Partner-bank model · custody: Custodial

short answerRelay is not itself a bank. It runs on a partner-bank (BaaS) model and works with Thread Bank — the licensed bank that actually holds customer deposits behind the app. Relay's most notable disclosed backers include Bain Capital Ventures, Better Tomorrow Ventures and Garage Capital.

Is Relay a licensed bank?

No — a partner bank (Thread Bank) holds the money. Licence detail: Partner bank (Thread Bank, Member FDIC); previously Evolve Bank & Trust.

Where is your money held?

Custody model: Custodial.

Relay runs on: Thread Bank (BIN sponsor bank). Full stack on the infra map.

Who's behind Relay?

Relay was founded by Yoseph West (2018), headquartered in Toronto/US.

Early investors

Notable venture and strategic investors from Relay's publicly disclosed funding rounds (~$100M raised).

Bain Capital Ventures ↗ Better Tomorrow Ventures ↗ Garage Capital ↗

Is my money safe with Relay?

Your money is held by Thread Bank, so any deposit insurance flows through that sponsor bank — not Relay itself. Check the sponsor's scheme and whether balances are "passed through" for per-customer insurance.

go deeperSee the full Relay profile with every verified field, or Relay alternatives. Raw fields: data.json.

Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.