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Penta co-founder preps Swiss SME digital bank

Penta co-founder preps Swiss SME digital bank

The co-founder of German digital bank Penta is launching a new venture, called Relio, targeting Swiss SMEs.

Relio says that while digital banks have mastered intuitive user interfaces and lower prices, the associated simplification and standardisation can be limiting when serving SMEs.

Founder Lav Odorovic has experience in tackling this problem from his time at Penta, which targeted German freelancers, startups and small businesses.

Relio says it will enable complex companies to benefit from the advantages of digital accounts, with an onboarding process that is tailored to meet even the most complicated scenario.

"Our promise is compliance without complications," says Odorovic, with the entire platform built around regulatory technology.

Currently running a wait list as it applies for a Finma licence, Relio has graduated from the F10 accelerator and claims to have the backing of two, so far unnamed, institutional investors.

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