Rho welcomes Capital

Rho Closes Deal with Capital, Bolstering Support for Tech Startups
Author
Justin Wolz
Updated
August 1, 2024
Read time
7

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Today, Rho is excited to announce that we have completed a transaction to have Capital, the founder-friendly fundraising and banking platform, join Rho.

Capital’s founders and key team members will leverage their expertise in startups and founder engagement to reinforce Rho’s support for tech startups.

What does this mean for Capital customers? 

With this transaction, 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 your organization at scale in one click.
  • Treasury Management Account, which provides clients with access to up to $75M in FDIC deposit insurance per entity.
  • Rho Prime Treasury, which helps businesses with more than $1M 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.

“We’re thrilled to welcome the Capital team to Rho,” said Everett Cook, CEO & Co-founder of Rho. “We believe their expertise will greatly complement our existing offerings, and we look forward to working together to provide even better financial solutions to our customer base.”

About Capital

Capital, which was founded by Jordi Hays and Sarah Chase 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.

“As founders ourselves, we set out to build a banking platform that leverages our acute understanding of founders’ needs,” said Jordi Hays, co-founder and CEO of Capital. "We're excited to join Rho and help them continue to grow and evolve their business, and we look forward to working together to continue building modern financial solutions for founders."

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Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank N.A., member FDIC. Savings account services provided by American Deposit Management Co. and its partner banks. International and foreign currency payments services are provided by Wise US Inc. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party.
The Rho Corporate Card is issued by Webster Bank N.A., member FDIC pursuant to a license from Mastercard.
Investment management and advisory services provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser and subsidiary of Rho. RBB Treasury LLC facilitates investments in securities: investments are not deposits and are not FDIC-insured. Investments are not bank guaranteed, and may lose value. Investment products involve risk, including the possible loss of the principal invested, and past performance does not future results. Registration with the SEC does not imply a certain level of skill or training. Treasury and custodial services provided through Apex Clearing Corp. ("Apex") and Interactive Brokers LLC ("Interactive"), registered broker dealers and members FINRA/SIPC. Interactive rates may vary from Apex rate shown above. For additional information about investment management and advisory services provided by Rho Treasury, please refer to Rho Treasury’s ADV-2A Wrap Fee Brochure.
             
This material presented is for informational purposes only and should not be construed as legal, tax, accounting or investment advice. Under no circumstances should any of this material be used for or considered as an offer to sell or a solicitation of any offer to buy an interest in any securities. Any analysis or discussion of financial planning matters, investments, sectors or the market generally are based on current information, including from public sources, that we consider reliable, but we do not represent that any research or the information provided is accurate or complete, and it should not be relied on as such. Our views and opinions are current at the time of publication and are subject to change. You should consult with your attorney or relevant professional advisor for advice particular to your personal or business situation.
                  
Rho Treasury is not insured by the FDIC. Rho Treasury are not deposits or other obligations of Webster Bank N.A., or American Deposit Management Co.’s partner banks, and are not guaranteed by Webster Bank N.A., or American Deposit Management Co.’s partner banks. Rho Treasury products are subject to investment risks, including possible loss of the principal invested.
*This reflects the sought net yield based on 90-day Treasury Bill rates as of [DATE] and an annual fee which ranges from 0.15% for deposits of $20M or more to 0.6% (the maximum annual fee) for deposits under $2M. Individual results may vary depending on the actual investment date and investment products selected. Past performance is not a guarantee of future performance results. The yield is variable and fluctuates without prior notice. The rate shown is net of fees. The amount of Treasury Bills available at a particular yield will depend upon the sellers’ offer size; any remaining cash balance after the purchase may not earn the same yield.

© 2019-2024 Under Technologies, Inc. DBA Rho Technologies. Rho is a trademark of Under Technologies, Inc.
Rho is a fintech company, not a bank. Checking and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks.