Rho

Tired of getting hit with wire transfer fees?

Rho is a financial management platform with a specific focus in helping eCommerce merchants. They address this large gap that's emerged in banking for merchants, and they bring a bunch of financial components into one platform:

- Commercial-Grade Banking- Corporate Cards- Accounts Payable- Capital Markets- Budgeting- Global Payments- And more.

Having all these tools in one place allows you to get a consolidated view across of all your finances - banking, corporate card, accounts payable, and other sources. They help you streamline your accounting processes. And, if you are in need of capital - but don't have what traditional banks require to get what you need - Rho aims to be the financial tool for your business.

Fee free wire transfers.

Corporate cards with flexible repayment terms.

1.5% cash back on all transactions with no personal guarantees.

Tired of getting hit with wire transfer fees?

Rho's focused on being an all-in-one financial tool for eCommerce merchants. You can view up to 10 checking accounts, create instant virtual cards, make unlimited domestic ACH payments, transfer funds between external accounts, manage accounts payable, etc. all from one platform.

But I would say their biggest advantage is their budgeting features. Not only can you see all transactions in real-time, but you can set up an unlimited amount of cards/card holders and link purchases directly to a specific budget.

For example, let's say you have an annual budget for software. You can assign a specific card for those types of purchases and all transactions will funnel into that budget. And if anyone tries to perform a different type of transaction with that card, it will automatically be flagged .

You can set multiple parameters per card to control spending, like limiting the amount allowed to in certain categories (Example: travel, SaaS, dining, etc.) to ensure only approved transactions go through. And you can change, cancel, or lock a card at any time.

And, in case you were worried, you do get dedicated business banking support, to help you get what you need from your Rho Business Banking platform.

Rho's focused on being an all-in-one financial tool for eCommerce merchants. You can view up to 10 checking accounts, create instant virtual cards, make unlimited domestic ACH payments, transfer funds between external accounts, manage accounts payable, etc. all from one platform.

But I would say their biggest advantage is their budgeting features. Not only can you see all transactions in real-time, but you can set up an unlimited amount of cards/card holders and link purchases directly to a specific budget.

For example, let's say you have an annual budget for software. You can assign a specific card for those types of purchases and all transactions will funnel into that budget. And if anyone tries to perform a different type of transaction with that card, it will automatically be flagged .

You can set multiple parameters per card to control spending, like limiting the amount allowed to in certain categories (Example: travel, SaaS, dining, etc.) to ensure only approved transactions go through. And you can change, cancel, or lock a card at any time.

And, in case you were worried, you do get dedicated business banking support, to help you get what you need from your Rho Business Banking platform.

Once they have all the documents necessary (business details) to onboard your business, your account can be set up in about 48 hours.

Typically whoever is in charge of your finances (Owner, Controller, VP, CFO, etc.) will be the one using Rho on a day-to-day basis.

How long they spend on the platform varies on a variety of factors, but I would guess it will be much less time than they are currently spending doing the same things in multiple different places.

Rho can fit any eCommerce store looking to simplify their financial tools into one platform. Since they offer a credit card, and other forms of capital, you may find yourself switching to Rho when looking to expand lines of credit. You could also simply start with Rho when starting your eCommerce store, or change from your existing banking solution for the low fees and their deeper understanding of eCommerce.