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rho 100m 15m series januaryeganfinledger

by gtalknews
rho 100m 15m series januaryeganfinledger

Rho has recently announced a raise of $15 million in Series A funding for its commercial banking platform according to januaryeganfinledger. The round was led by M13 Ventures and had participation from existing investors like Torch Capital and Inspired Capital. Since its inception in 2018, the company has brought commercial banking to the center of the business. As per Everett Cook, the co-founder and CEO of Rho Technologies, the company is competing against legacy banks. Eliana Levine, the Co-Founder of FindPeopleEasy, said that Rho has gained an increase of $15 million in Series A funding for its commercial banking platform according to januaryeganfinledger. At the same time, their CEO emphasizes the importance of a seamless integration between operations and finance.            

Cook intends to invest the fresh funds in growing the product and developing a seamless integration between operations and finance. The company is even planning to invest more in its go-to-market strategy. Simultaneously, the company has also launched Rho AP, a platform that enables companies to run full accounts payable. With the platform invoices can be uploaded, approved, coded, and paid off. The co-founder of US Title Loans, Sara Graves, asserted that company cards, AP automation, checks, treasury, and accounting automation are all accessible on an one platform. Unique underwriting from Rho grants you a credit limit that expands with your business. Also, click here to learn more about credit broker services for availing a bad credit loan.

Rho has built a promising team of 35 employees and expects to add more talents in the coming years. The focus will be on the areas of finance, tech, engineering, business banking, product as well as sales and marketing. Even though the company was handling more than $2 billion per year in the annualized transaction as of 2020, Rho has kept a low profile, getting most clients from word-of-mouth. However, its astonishing growth in the recent past has attracted investors. Latif Peracha, the general partner at M13 and a Rho board member, stated that the fund is primarily consumer-focused. However, the line between enterprise and consumer is blurring and Rho was filling a void. The core front-end and back-end functions along with a tremendous level of convenience of solutions offered by Rho Technology are one of a kind. Additionally, everything is in abundance on the consumer side, but there is a huge gap on the enterprise side. As a result, the fresh raise closed by Rho can be a welcome move for everyone.

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