New York-based digital business banking platform raised $4.9m of Series Seed financing led by Inspired Capital. Companies can apply for a full-service business bank account in less than three minutes, and the platform provides an innovative suite of features catered to the needs of startups. Rho’s workflow technology connects business applications like Quickbooks, Xero, and Slack.
When I was starting LearnVest, a banking service designed for founders simply didn’t exist,” said Alexa von Tobel, Founder and former CEO of LearnVest; and Founder and Managing Partner of Inspired Capital. Inspired Capital led Rho’s seed round. “From personal experience, we believe small business banking is laden with outdated incumbents and missing a modern customer-first experience.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.”