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Relay

Relay is a Toronto fintech building business banking for US small businesses — up to 20 checking accounts, 50 cards, and tools for payables, expenses and invoicing. Founded in 2018 by Yoseph West and Paul Klicnik, it held $1.3B in customer deposits as of May 2026.

🚀 Rocketship ’24FintechTorontoFounded 2018relayfi.com ↗
$1.3Bcustomer deposits under management (May 2026)Fintech.ca ↗
150,000+US small business customers (May 2026)Fintech.ca ↗
220+employees (November 2025)The Startup CEO Show ↗
~90%of code written by Relay's team that is AI-generated — TechTO stage 2026-07-13TechTO stage 2026-07-13 ↗

The people

Yoseph WestCo-founder & CEO · 2 TechTO talks
Eleni DeaconVP of Marketing (as of 2025) · 1 TechTO talk
Nichole PorterHead of Sales · 2 TechTO talks
PK
Paul KlicnikCo-founder & VP Engineeringprofile coming

What they build

Relay business bankingUp to 20 checking accounts and 50 physical or virtual debit cards, with ACH, cheque and wire paymentsProduct page ↗
Relay CapitalTerm loans for small businesses, launched March 2026Product page ↗

Open roles ×2 · via the TechTO Job Board

Remote
Senior Software Engineer (Voyager)Waterloo, Ontario, Canada · Full-time
2026
Remote
Senior Software Engineer (Voyager)Toronto, Ontario, Canada · Full-time
2026

Open roles on jobs.techto.org — TechTO’s job board and the source of truth. We link to each posting rather than scraping career sites.

On the TechTO stage

TECHTO

Relay Financial and Bain Capital Ventures

July 2021
Watch on YouTube ↗
TECHTO TOGETHER

Building a Startup Marketing A-Team with Eleni Deacon, VP of Marketing at Relay Financial

February 2024
Watch on YouTube ↗
TECHTO30:11

The Ultimate Guide to Selling Better

May 2024
Watch on YouTube ↗
TECHTO

Building a Resilient Sales Team with Nichole Porter

May 2024
Watch on YouTube ↗
TECHTO

Why We Hire More Engineers Because of AI | Yoseph West of Relay

July 2026
Watch on YouTube ↗

Every talk is searchable — ask the archive about Relay ↗

About

Yoseph West and Paul Klicnik started Relay in Toronto in 2018 and deliberately built for the US market rather than Canada — West's reasoning on the TechTO stage being that if you are spending ten years on something, build the most ambitious version. Relay is a financial technology company rather than a bank; banking services come through partner Thread Bank. It found its first customers door to door in Kensington Market.

Backers

$50M growth investment from General Catalyst's Customer Value Fund (May 2026); US$32.2M Series B led by Bain Capital Ventures (May 2024); also Better Tomorrow Ventures, Amaranthine, Industry Ventures and Garage Capital

More from TechTO ×6

Newsletter
A wedge is nothing without a visionThe TechTO newsletter · mentions Relay
2026
Newsletter
He went door to door to build a bankThe TechTO newsletter · mentions Relay
2026
Newsletter
TechTO's 2024 Rocketships ListThe TechTO newsletter · mentions Relay
2025
Newsletter
May 30, 2024: Crossing the finish line 🏃‍♂️The TechTO newsletter · mentions Relay
2024
Newsletter
May 29, 2024: How to win in Sales 📈The TechTO newsletter · mentions Relay
2024
Newsletter
February 21, 2024: It's a lifestyle, not a dietThe TechTO newsletter · mentions Relay
2024

Quick answers

What does Relay do?

Business banking and money management for US small businesses — multiple checking accounts, cards, payables, expense management and invoicing, with QuickBooks, Xero and Gusto integrations.

Is Relay a bank?

No. Relay is a financial technology company; banking services are provided by its partner Thread Bank, Member FDIC.

Who founded Relay?

Yoseph West and Paul Klicnik, in Toronto in 2018. West is CEO; Klicnik is VP of Engineering.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 13, 2026