Milos Stokic, Lav Odorovic, Zarko Vukadinovic/Relio.
Penta co-founder raises €3m for Swiss payments fintech
The SME-focused fintech aims to digitalise Switzerland’s banking sector with automated compliance processes.

Swiss fintech Relio has just secured €3m to launch digital payment accounts for small businesses.
Founded by CEO Lav Odorovic, who launched German SME neobank Penta in 2016, Relio aims to offer even “complex companies” a Swiss IBAN account within 24 hours when it launches with automated compliance checks.
Off the back of the funding round, led by TX Ventures, HTGF and SIX Fintech Ventures, the startup will advance its anti-money laundering tech stack as it continues working towards getting its Swiss fintech licence.
“Anti-money laundering compliance issues have remained the weakest link of challenger banks when serving business customers,” Relio said.
“Complex ownership structures, international money flows and complicated business models pose higher risks in terms of fraud and money laundering.”
According to Relio, it offers the benefits of a digital business account but with a fully customised approach.
With its automated compliance system, that it says performs the usual checks quickly and more precisely, it removes the slow human element of confirming transactions which can cause long wait times and stop customers from making necessary transactions.
“This advantage positions Relio as a solution for demanding business customers who place a lot of value on a reliable Swiss payment account without the inefficiencies at times associated with AML compliance.”
The startup was launched in December 2020, and Odorovic now aims to “drive digitalisation” in Switzerland’s banking sector.
“We strongly believe that Relio's experienced team can continue developing the future of finance in SME banking by automating and improving a central aspect of banking: compliance,” TX managing partner Krzysztof Bialkowski said.
“This allows the company to bring true innovation to the market by getting rid of bureaucracy and waiting times while supporting even the most complex SME customers in Switzerland and abroad.”