Read our 2026 review of Rho's business banking platform, covering corporate cards, treasury management, fees, and features for startups.
Category
Finance
Pricing
Free business banking and corporate cards with no subscription or per-user fees; Rho Treasury charges an assets-under-management-based fee., from Free (no monthly subscription fees for core banking and cards)
Verified
Not yet
Last updated
July 19, 2026
Founded
2018
Headquarters
New York, New York, United States (100 Crosby Street)
Free PlanWeb App
Overview
Rho was founded in 2018 by Everett Cook, Alex Wheldon, and Damian Kimmelman and is headquartered in New York City. The company has raised roughly $235 million in funding, including a $75 million Series B round in 2021, and employs around 334 people as of 2026. Rho builds a combined banking, corporate card, and treasury management platform aimed at startups and scale-up companies.
Key Features
Rho offers no-fee business checking accounts, corporate cards with up to 1.5% cash back and no annual fees, accounts payable automation, and expense management with customizable approval workflows. Rho Treasury adds access to higher-yield cash management and a sweep network offering FDIC insurance coverage up to $75 million, operated under Rho's status as an SEC-registered investment advisor.
Pricing
Rho does not charge monthly subscription fees, per-user fees, minimum balance fees, or fees for same-day ACH, wires, or checks on its core banking and card products. The exception is Rho Treasury, which charges an annual, tiered management fee ranging from about 0.15% for larger balances of $20 million or more up to about 0.6% for balances under $2 million.
Key Features
Business Checking — No monthly fees, no minimum balance requirement, and no ACH or wire transfer fees.
Corporate Cards — Physical and virtual cards with up to 1.5% cash back and no annual or per-card fees.
Accounts Payable Automation — Bill pay and invoice approval workflows built into the platform.
Expense Management — Real-time spend controls and expense categorization for employee cards.
Rho Treasury — SEC-registered investment advisory offering higher-yield cash management with a tiered management fee.
FDIC Sweep Coverage — Extends FDIC insurance protection on deposits up to $75 million through a partner bank sweep network.
Customizable Approval Workflows — Multi-level spend and payment approval policies for finance teams.
24/7 Customer Support — Round-the-clock live support included with the platform.
Pros & Cons
Pros
No monthly subscription or per-user fees for core banking and cards
Corporate cards earn up to 1.5% cash back with no annual fee
High FDIC sweep coverage of up to $75 million via Rho Treasury
Combines banking, AP automation, and expense management in one platform
Backed by well-known venture investors with roughly $235 million raised
24/7 customer support included
Cons
Rho Treasury charges an AUM-based management fee for higher-yield cash management
Not a chartered bank itself; relies on partner bank infrastructure
No lending, credit card, or investment products offered
Detailed company headcount is not well publicized
Advanced automation features are reserved for the top Scale tier
Primarily built for US-based companies
Pricing
Rho Business (Core Banking and Cards) $0/month n/a (no subscription fee)
Rho Treasury Tiered management fee: approximately 0.15% annually for deposits of $20M+ up to approximately 0.6% for deposits under $2M annual (asset-based fee)
Frequently Asked Questions
Is Rho a bank?
Rho is a fintech company; its banking services, such as FDIC insurance, are provided through partner banks rather than Rho itself holding a bank charter.
Does Rho charge monthly fees?
No, Rho does not charge monthly subscription fees, per-user fees, or minimum balance fees on its core banking and card products.
How much cash back do Rho corporate cards offer?
Rho corporate cards can earn up to 1.5% cash back on spend, with no annual or per-card fees.
What is Rho Treasury?
Rho Treasury is an SEC-registered investment advisory service that offers higher-yield cash management, charging a tiered annual management fee based on deposit size.
How much FDIC insurance does Rho provide?
Through its sweep network via Rho Treasury, Rho can extend FDIC insurance coverage on deposits up to $75 million.
Who founded Rho?
Rho was founded in 2018 by Everett Cook, Alex Wheldon, and Damian Kimmelman.
How much funding has Rho raised?
Rho has raised approximately $235 million across multiple funding rounds, including a $75 million Series B in 2021.
Does Rho support international payments?
Rho charges a 1% fee on foreign currency transfers as part of its cross-border payment capabilities.