Rho
New York, US · Founded 2018 · 334 employees on LinkedIn · 13 known investors
Rho offers a business savings account that spreads idle cash across 400+ FDIC-insured banks (via American Deposit Management) for up to $75M in deposit coverage and yield. It is part of Rho's financial platform for founders and finance teams that combines checking, savings, treasury, spending, bill pay, and accounting.
Also known as Rho Business
Founders & leadership
Rho was founded in 2018 by Everett Cook.
Investors · 13
Funding
SEC filings, press & company announcements- Undisclosed amountSeries COct 2025
Balderton Capital, Inspired Capital, Leaders Fund
Source ↗ - Undisclosed amountSeries BDec 2021Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Rho operates a financial platform for startups and scaling companies that consolidates banking, card spending, treasury, bill pay, invoicing and accounting close into a single product. The company states it is a fintech company rather than a bank: checking and card services are provided by Webster Bank, a division of Santander Bank, N.A. (member FDIC), savings account services are provided by American Deposit Management Co. and its partner banks, and international and foreign-currency payment services are provided by Wise US, Inc.
The product set spans company formation through later-stage operations. Rho offers pre-EIN incorporation with Delaware C-corp setup described as taking roughly 24 hours (LLC support listed as forthcoming), business checking accounts opened online, a treasury product advertising up to 4.57% net yield on idle cash, corporate cards with built-in limits and up to 2% cashback on the Rho Platinum tier, fee-free bill pay with scan-approve-pay workflows, invoicing with ACH, wire and card payment options, working capital financing for brands positioned as non-dilutive, and an AI-assisted transaction coding tool for month-end close. Rho also markets 24/7 human support and hands-on implementation.
Business model
Rho provides a software platform layered on partner bank and payments infrastructure, positioning itself as a fee-light alternative to incumbent business banking. It advertises no subscription, per-seat, per-user, checking account minimum or ACH/wire/check fees, and no fees on bill pay and invoicing. Disclosed charges include a 1% foreign currency conversion fee, an optional $15 SWIFT fee, and a late fee of 3% of the delinquent balance per month for up to six months on unpaid balances. Additional revenue-relevant products include corporate cards with cashback tiers, a treasury/yield product, and working capital financing.
Interchange and card-related economics, foreign exchange and SWIFT fees, treasury and savings products, and working capital financing, rather than platform subscription or per-user fees.
Traction
Rho states that thousands of founders run their finances on the platform.
▸Full profile — market position, technology, go-to-market, geography
Market position
Rho positions itself as a scalable financial platform for venture-backed and growth companies, emphasizing partner-bank safeguards and its relationship with Webster Bank, described as a nationally chartered institution with $76B in assets.
Consolidation of incorporation, banking, cards, treasury, bill pay, invoicing, capital and accounting close in one platform; a no-subscription, no-per-seat fee structure; and emphasis on 24/7 human support and rapid implementation.
Technology
A single platform unifying banking, spend management and treasury, with automated yield allocation on idle cash and an AI-based tool that codes transactions to accelerate month-end accounting close.
Go-to-market
Self-serve online account opening ("open an account in minutes") alongside demo requests and hands-on implementation support, supported by founder testimonials and community-oriented promotion, including an incorporation promotion offering $400 back.
Startups and scale-ups, from pre-EIN and day-zero incorporation stage through companies with 10,000+ employees; founders, finance teams and their accountants.
Geography
Headquartered in New York, United States, serving US-incorporated businesses (including Delaware C-corp formation), with international and foreign-currency payment capability via a third-party provider.
Compiled by commissioned research from 1 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 5
launches, deals, and filingsChecking and card services are provided by Webster Bank, a division of Santander Bank, N.A., member FDIC; savings account services by American Deposit Management Co. and partner banks; international and foreign currency payments by Wise US, Inc.
Rho lists a new Close product that uses AI to code every transaction for month-end accounting.
Rho offers pre-EIN incorporation, setting up a Delaware C-corp in approximately 24 hours, with LLC support stated as coming soon.
Rho lists invoicing as a new product, allowing businesses to invoice clients with ACH, wire and card payment options.
Rho lists a new capital product providing working capital for brands, described as non-dilutive.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 1
primary sources listed
- Rhorho.co · web
1 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Rho do?
- Rho is a New York-based fintech offering business banking, corporate cards, treasury and spend management for startups.
- Who founded Rho?
- Rho was founded by Everett Cook in 2018.
- Who are Rho's investors?
- Rho's investors include Claritas Capital, Clocktower Ventures, Flucas Ventures, Helium-3 Ventures, Inspired Capital, Recall Capital, Red Swan Ventures, Torch Capital and 5 more.
- Where is Rho headquartered?
- Rho is headquartered in New York, US.