Banking for entrepreneurs by entrepreneurs
Former Point72 and Deutsche Bank alum Everett Cook and British-Canadian 3X entrepreneur Alex Wheldon announced the launch of Rho Business Banking, the flagship platform from fintech startup Rho Technologies, featuring “a groundbreaking digital banking product built to accelerate high-growth startups.”
Developed around the needs of modern businesses, the Rho Business Banking platform, which offers up to $10 million in FDIC insurance, includes interest on both cash and treasury accounts with no minimum balances, API technology to drive workflow automation through tools like Slack, and team accounts that enable collaboration across an organization.
Companies can apply for a full-service business bank account in less than three minutes, and the platform provides a suite of features catered to the needs of startups. Rho’s workflow technology connects business applications like Quickbooks, Xero, and Slack seamlessly with businesses’ banking and has the ability to connect to nearly 250 others upon-request.
“When I was starting LearnVest, a banking service designed for founders simply didn’t exist. From personal experience, we believe small business banking is laden with outdated incumbents and missing a modern customer-first experience. We have been incredibly impressed with Rho’s innovative product approach and powerful technology strategy, and we believe this founding team is uniquely positioned to build a best-in-class solution for the next generation of founders, small business owners, and beyond.” – Alexa von Tobel, founder and former CEO of LearnVest and founder and managing partner of Inspired Capital which led Rho’s $4.9 million seed round.
Bottom Line: Your next business partner.