Rho acquires Capital

Friday 1 September 2023 14:05 CET | News

US-based all-in-one financial platform Rho has completed a transaction to have Capital, a fundraising and banking platform, join Rho.


US-based all-in-one financial platform Rho has completed a transaction to have Capital, a fundraising and banking platform, join Rho.

Following this transaction, Capital’s founders and key team members will leverage their expertise in startups and founder engagement to reinforce Rho’s support for tech startups. Capital’s startup customers will also be offered access to Rho's all-in-one finance platform’s capabilities, including:

  • ‘One-Click AP’, designed to process, interpret, check, validate, and schedule thousands of payables using any payment method and automate the actions of approvals, compliance, and reconciliation across an organisation at scale in one click;

  • Treasury Management Account, which provides clients with access to up to USD 75 million in FDIC deposit insurance per entity;

  • Rho Prime Treasury, which helps businesses with more than USD 1 million in liquid assets invest directly in short-dated government securities held in their name;

  • Additional platform capabilities, including the Rho mobile app and expense management.

Capital: the viral fintech brand empowering founders

Capital, which was founded in March 2021, has leveraged consumer marketing tactics to build a viral fintech brand with a cult-like following of founders. Propelled by the platform's flagship fundraising tool and initiatives like New York Tech Week, Capital established a loyal following of swiftly-growing startups.

Officials from Capital said that as founders themselves, they’ve set out to build a banking platform that leverages their acute understanding of founders’ needs. They're excited to join Rho and help them continue to grow and evolve their business, and they look forward to working together to continue building modern financial solutions for founders.

Previous news from Rho

In May 2021, Rho has released its Rho Card, a Mastercard corporate credit card with flexible terms. Holders of Rho’s new card can choose to maximise their cashback up to 1.75%, extend repayment terms, or pursue some combination of the two, and they can alter these terms up to four times a year to adapt to changing business needs.

The Rho card is a suite product that offers a centralised dashboard, digital receipt uploads, and built-in spend limits and category restrictions. Customers can authorise an unlimited number of both virtual and physical cards, on which they can place individual spend limits. The Rho card is seeking to replace existing corporate credit card programmes, and it appears well positioned to do so.

More: Link

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Keywords: acquisition, wealth management, accounts payable, payment methods, compliance
Categories: Banking & Fintech
Companies: Capital, Rho
Countries: World
This article is part of category

Banking & Fintech




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