US-based all-in-one financial platform Rho has acquired Capital, a fundraising and banking platform.
Capital, which was founded in 2021 by Jordi Hays and Sarah Chase, has been acquired by Rho for its expertise in start-ups and founder engagement, and will reinforce Rho’s support for tech start-ups.
The financial terms of the deal have not been disclosed.
“We’re thrilled to welcome the Capital team to Rho,” said Everett Cook, chief executive officer and 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.”
The deal will see Capital’s start-up customers given access to Rho’s platform capabilities, including ‘One-Click API’, which processes, checks, validates, and schedules thousands of “payables” using any payment method and automates approvals, compliance, and reconciliation across an organisation.
Rho’s ‘Treasury Management Account’ capability provides clients with access to up to $75 million in FDIC deposit insurance per entity.
“As founders ourselves, we set out to build a banking platform that leverages our acute understanding of founders’ needs,” added Hays, co-founder and chief executive officer 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.”