Diligence memo · auto-generated · as of July 2, 2026
Relay Financial Technologies Inc.
Relay Financial Technologies Inc. looks fair against its niche peers and is at-risk on financing cadence.
Businessfiled
Relay Financial Technologies Inc. operates in Software / Tech, based in TORONTO.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Relay Financial Technologies Inc. has raised $43M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $24M on 2024-02-06.
Most recent recorded round closed around 2024-02-06.
Valuation (modeled)modeled
Provath models Relay Financial Technologies Inc. at approximately $206M (range $59M–$397M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.00× the median modeled value of Series B Software / Tech companies in 2022–2024 (174 peers) — value vs value, same stage and era. Within the normal band (100% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 20 months.
Last raise 2.4 yr ago; this sector typically re-raises about every 13 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 1.6× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 89% of Software / Tech peers (3920 compared).
Modeled value ranks above 83% of those peers.
Closest niche peers: Argyle Systems Inc., Shoreline Software, Inc., ALICE Technologies, Inc., Tint Technologies Inc., Vanilla Technologies Inc..
Peoplefiled
5 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.