Rho Business Banking
“Can a modern software-first banking platform replace the fragmented stack of business bank + card + AP + expense tools for venture-backed startups?”
Founded2018
HQNew York, NY, United States
FoundersEverett Cook, Alex Wheldon
Total raised~$20M (as of Series A)
Latest roundSeries A, 2021
IndustryFintech / SMB banking
The story
Rho launched in 2020 as a modern commercial banking platform for high-growth startups, positioned against legacy business banks and Brex. It runs on top of a sponsor bank (Webster Bank, N.A.) rather than holding its own charter, and has expanded from operating accounts into treasury yield, corporate cards, expense management, and AP automation — pitching itself as a unified 'finance platform' rather than a pure neobank. The 2026 Stripe Atlas partnership pushes distribution earlier into the founder lifecycle.
Product timeline
2018
Founded by Everett Cook and Alex Wheldon in NYC· founding
2019
$4.9M seed round led by Inspired Capital· funding
2020
Launched Rho Business Banking platform after coming out of stealth· banking
2021
$15M Series A led by M13; launched Rho AP for accounts payable· lending
2026
Partnership with Stripe Atlas to onboard newly incorporated founders· partnership
Same company
Rho Business Banking was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
The stack
5 layers disclosed in Rho Business Banking’s embedded-finance stack
Banking / BaaS
Open banking
in the full report
Unified APIs
in the full report
Sponsor bank
in the full report
Accounting
in the full report
Accounting gap: none
8 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.