Saturday 23rd August 2025
XU Biweekly | No. 112
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Saturday 23rd August 2025 | No. 112
XU Biweekly
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Self-Made Success Adds Up: Small Businesses Exceed $1 Billion in Managed Deposits in Relay
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ELAY¹—THE SMALL BUSINESS BANKING AND MONEY MANAGEMENT PLATFORM ENABLING PEAK PROFITABILITY—ANNOUNCED THAT AMERICAN SMALL BUSINESSES HAVE ENTRUSTED THEM WITH MORE THAN $1 BILLION IN MANAGED CUSTOMER DEPOSITS THROUGH THREAD BANK, MEMBER FDIC. THIS MILESTONE IS A VOTE OF CONFIDENCE BY THE MORE THAN 110,000 SELF-MADE SMALL BUSINESS OWNERS USING RELAY. AS THE BANKING PLATFORM ON A MISSION TO MAKE EVERY BUSINESS GREAT WITH
MONEY, RELAY STANDS WITH THESE ENTREPRENEURS AS THEY CHART THEIR PATH TO HEALTHIER, MORE PROFITABLE BUSINESSES. “Every dollar deposited signals the trust of the small and medium-sized businesses who bank with us,” said Yoseph West, Co-Founder and CEO of Relay. “These are tireless owners, grinding every day to build stronger businesses, and better lives for themselves and their families. For these electricians, florists, real estate agents, and many other business owners across the
U.S., reliable banking and money management tools are mission-critical. We’re honored to be part of that.” The announcement of $1 billion in managed customer deposits comes as Relay evolves to become the financial command center for American small businesses, enabling cash flow clarity and 360 financial decision-making with products and features that put profit first. Over the past year, Relay has expanded its core offering beyond business banking accounts.
Vinyl Raises $2M to Build the Future of AI Meeting Assistants for Accountants
IRIS Software Group Appoints Jason W Dies as New Chief Executive Officer
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RIS SOFTWARE GROUP (IRIS), A LEADING GLOBAL PROVIDER OF ACCOUNTANCY, EDUCATION, HR, AND PAYROLL SOFTWARE, TODAY ANNOUNCED THE APPOINTMENT OF JASON DIES AS ITS NEW CHIEF EXECUTIVE OFFICER, EFFECTIVE JULY 14, 2025. DIES SUCCEEDS GUS MALEZIS, WHO HAS SERVED AS IRIS’ INTERIM CEO AND WILL CONTINUE WITH HIS ROLE AS CHAIRMAN OF THE BOARD. Dies is an accomplished leader with more than 30
Saturday 23rd August 2025
years of experience driving transformation and growth at large, global organizations. Most recently, he served as Interim CEO of Pitney Bowes, a $3 billion technology, logistics and financial services company with over 11,000 employees, serving more than 90% of the Fortune 500 and over 500,000 medium and small businesses, globally. During his tenure, Dies drove a culture of client-centricity and innovation, while accelerating operational efficiency and performance.
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“We’re thrilled to welcome Jason as our new CEO as we continue to deliver bestin-class innovative solutions for our customers and accelerate our international growth,” said Gus Malezis, Chairman of the Board at IRIS. “Jason has a proven track record of driving customer-centric performance at scale, achieving ambitious financial and operational goals, and transforming organizations through innovation.
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E’VE RAISED $2M AUD IN SEED FUNDING TO BUILD THE FUTURE OF AI MEETING ASSISTANTS FOR ACCOUNTING AND BOOKKEEPING FIRMS.
We’ve raised $2M AUD in seed funding to build the future of AI meeting assistants for accounting and bookkeeping firms. Since March this year, we’re already helping hundreds of firms save hours each week by turning client meetings into structured notes, clear action items, and synced follow-ups — without the admin headache. Now, with the backing of Tidal Ventures and the founders of Dext, Ignition, and KeyPay, we’re ready to accelerate.
Our Journey So Far
Like many firms, we started with a meeting problem. At our agency, Journey, we were meeting-heavy — clients, team, stakeholders. But all that talk led to one big issue: scattered notes, missed context, and manual follow-ups that ate up our time. We tried everything from generic notetakers like Fireflies and Fathom, to Frankensteining our own workflow using Zapier and GPT. It sort of worked — we even generated new revenue from AI-written proposals. But it wasn’t built for us. So, we asked a simple question: Are accounting and bookkeeping firms facing the same problem?
After 12+ years working in the accounting & bookkeeping ecosystem, we took it to the community, and 276 firms answered. What we heard was clear: • Firms are spending 6.6 hours per week on post-meeting admin • That’s 345 hours a year — or 43 full working days • With the right AI help, firms could reclaim $31K+ in billable time The biggest pain points? Remembering what was said. Capturing the right actions. Making sure follow-ups actually get done.
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