Company Research Report: Rho Technologies
Company Overview
Name and Mission of the Company
Rho Technologies
Mission: Rho is on a mission to take the friction out of finances by integrating all the financial tools businesses need on one easy, centralized platform.
When Was the Company Founded and By Whom
- Founded by: No information is available
- Year Founded: No information is available
Key People in the Company
- Jeremy Klaperman: Role unspecified (Refer to feature on January 10, 2023 "Making Business Banking Frictionless with Jeremy Klaperman of Rho")
- Tyler Majors: CFO of Native Strategies (Rho's customer)
- Derek Carlson: VP, Controller of Echelon (Rho's customer)
- Nikesh Patel: CFO of Best Bay Logistics (Rho's customer)
- Sarah Green: Senior Accounting Manager of Dr. Squatch (Rho's customer)
- Alex Marcus: Co-founder and Co-CEO of Mento (Rho's customer)
Headquarters
Address: 100 Crosby Street, New York, NY 10012
Number of Employees
Number of Employees: No information is available
Revenue of the Company
Revenue: No information is available
What Is the Company Known For
Rho is known for its financial automation platform that helps finance teams maximize time for strategy. The platform integrates checking accounts, corporate cards, and AP automation.
Products
What Products Do They Offer
1. Business Checking and Savings Accounts
2. Corporate Credit Cards
3. AP Automation
4. Expense Management
5. Treasury Management
High-Level Description and Key Features of Each Product
1. Business Checking and Savings Accounts
- Description: Seamless business banking platform with 24/7 customer support and zero ACH fees.
- Key Features:
- $0 ACH and wire transfer fees
- Mobile check deposits
- Manage invoices at scale
- Free Deposit Account Control Agreements for lenders
- Access to a business line of credit
2. Corporate Credit Cards
- Description: Simplifies expense policy enforcement, automates accounting, and offers cashback rewards.
- Key Features:
- Up to 1.25% cashback
- Set spend limits and merchant restrictions
- Real-time tracking of employee spending
- Automated accounting with integration options (QuickBooks Online, NetSuite)
- No personal credit score pull required
3. AP Automation
- Description: Automates invoice management, strengthens vendor relationships, and eliminates manual data entry.
- Key Features:
- Touchless Invoice Processing via OCR
- Stress-Free Vendor Management
- Fee-Free Payments (ACH, wire, check, corporate card)
- Real-Time Reconciliation with accounting systems
4. Expense Management
- Description: Simplifies expense management with automation, real-time receipt capture, and policy enforcement.
- Key Features:
- Custom spend rules by dollar amount, budget, or merchant
- Real-time receipt capture and approval
- Automated policy enforcement and notifications
- Dedicated mobile app for employees
5. Treasury Management
- Description: Invests excess cash in treasury bills, providing liquidity and competitive yield.
- Key Features:
- Investments in government-backed treasury bills
- 2-3 business day liquidity
- Real-time balance and yield tracking
- Fill potential 2-month operational runway gap
Recent Developments
What Are the Recent Developments in the Company
- Partnerships:
- Rho partners with Webster Bank, N.A., Member FDIC; savings account services are provided by American Deposit Management Co., and international transactions are facilitated by Wise US., Inc.
- Navan partnership integration for travel and expense management
What Are the New Products Launched
- Rho Corporate Credit Cards: With benefits of real-time spend control and automated accounting
- Rho Treasury: Providing yield from government-backed treasury bills and enhanced liquidity
What Are the New Features Added to Existing Products
No specific new features were mentioned for existing products.
Any New Partnerships
- Navan Partnership: Integrating Navan’s global travel and expense solution with Rho Corporate Cards to unify finance stack, control spend, and save time and money.
Contact Information
- Phone: 1 (855) 7-GETRHO
- Email: clientservice@rho.co
- Website: [rho.co](https://www.rho.co)
Client Testimonials
Native Strategies
- Tyler Majors, CFO: "Rho has allowed me to delay an expensive NetSuite upgrade and senior accounting hire by at least a year. Implementing Rho saved me 40 hours every month."
Echelon
- Derek Carlson, VP, Controller: "Rho helps the team finish monthly expense reconciliation 24x faster. We love using Rho Cards for segmenting advertising spend."
Best Bay Logistics
- Nikesh Patel, CFO: "Rho helps us manage multi-entity business efficiently, saving 40 hours a month."
Mento
- Alex Marcus, Co-founder & Co-CEO: "Rho provides a tech-forward platform that helps manage finances operationally, extending our startup's runway."
End of Report