Rho Closes Deal with Capital, Bolstering Support for Tech Startups

NEW YORK, Aug. 29, 2023 /PRNewswire/ -- Rho, the all-in-one financial platform organizations can bank on, today announced it has 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.

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.

"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."

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.

About Rho

Rho is the all-in-one financial platform organizations can bank on. With corporate cards, expense management, AP, banking, and treasury in one integrated platform, Rho equips lean finance teams and leaders with the technology they need to drive greater efficiency and control over how money moves in and out of their organizations.

Banking services provided and cards issued by Webster Bank, N.A., Member FDIC. All Rights reserved. © 2019-2023 Under Technologies, Inc. DBA Rho Technologies. Rho is a trademark of Under Technologies, Inc. Rho is not a bank. Rho partners with FDIC-insured banks to offer banking products and services.

Investment management and advisory services provided by RBB Treasury LLC, an SEC-registered investment adviser. RBB Treasury LLC facilitates investments in securities: investments are not deposits and are not FDIC Insured • Investments are not guaranteed, and may lose value. Investment products involve risk and past performance does not guarantee future results.

CONTACT: Justin Wolz, [email protected]

SOURCE Rho