Mad Rabbit

"Rho is a better solution for startups for a variety of reasons. As a startup, every dollar needs to be making more dollars, so it’s really nice to earn more interest on our dry powder."—Oliver Zak, CEO of Mad Rabbit Tattoo

What is Mad Rabbit?

Mad Rabbit is an e-commerce brand of tattoo aftercare products trusted by millions of tattoo enthusiasts. Their high-quality, clean and vegan ingredients cater to the specific needs of tattooed skin, ensuring lasting, vibrant tattoos. 

Challenge

Lower fees and better startup cash management

Treasury management for startups like Mad Rabbit can feel like navigating a labyrinth of needs and options. We caught up with Mad Rabbit’s CEO Oliver Zak, and Joe Jenkins, Vice President of Finance, to learn how they protect and grow their capital. 

Like many of its e-commerce peers, Mad Rabbit needed a banking platform that could support its growth, offer impeccable customer service, and streamline its financial processes without incurring excessive fees. Existing solutions:

• Lacked the necessary customer support and features for a growing CPG brand.
• Imposed fees on essential transactions like ACHs and wires.

Hoping to make their dollar stretch as far as possible by avoiding these added fees, their search for an effective cash management solution led them to Rho. 

Rho promised a fully digital, streamlined solution that could meet their needs without the burden of high ACH and wire fees. 

"We don’t get an analysis fee or get nickel and dimed for every ACH or wire that we send. Small businesses need to send money out right away so the free wire function is definitely a plus."

Solution

Streamlined finance management and peace of mind 

Today, Rho provides Mad Rabbit with a fully digital banking platform that addresses their needs for efficiency and cost-effectiveness. 

Their favorite features?

• Ease of use: Mad Rabbit can manage its core business banking activities without reaching out to customer support. 
• Rho’s mobile app: Leadership can deposit checks and manage their interests while away from their desk.
• Zero transaction fees: Mad Rabbit avoids high ACH and wire transfer fees. 

Plus, Rho Treasury provides a way for Mad Rabbit to put its funds to work, earning yield in U.S. Treasury Bills held in the company entity’s name. 

For Mad Rabbit, this additional benefit not only preserved their capital but helped the company establish an enterprise-grade cash management strategy. 

"Rho provides our management team peace of mind."

Results

Saving thousands annually and ensuring financial security with Rho

Rho offered Mad Rabbit more than just another banking platform; they provided a partnership that gave them flexibility and peace of mind to put its company cash to work.

• $25K+ saved annually by eliminating ACH/wire transaction fees.
• Mobile app creates a frictionless environment to manage banking on the go.
• Access to an enterprise-grade cash management strategy.

Moving forward, Mad Rabbit Tattoo plans to scale its use of the Rho platform’s capabilities, including expense management, AP automation, and accounting. They anticipate this will further streamline their financial processes and unlock additional time savings. 

"Large financial institutions are generally not great at supporting startups. My advice? Look to the fintech innovators and have conversations with them. I recommend a relationship-first approach. Rho does a great job of that."

Testimonials reflect individual customer experiences and opinions and are provided for illustrative purposes. There is no guarantee that your Rho experience will be the same and results may vary.

¹Rho is a fintech company, not a bank. 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.

²Investment management and advisory services provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser. 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 and past performance does not guarantee 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. Treasury and custodial services provided through Interactive Brokers LLC for clients with accounts opened prior to July 2024; IBKR rates may vary from Apex rate shown above. The yield may change at any time and without prior notice. Please see the ADV Wrap Fee Brochure for further information regarding fees and Rho Treasury.

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