Rho Acquires Capital
Rho, a B2B all-in-one financial platform, recently announced its acquisition of Capital, a fundraising and banking platform. While the transaction figures were not disclosed, it is expected to attract start-up customers to Rho’s platform.
Everett Cook, chief executive and co-founder of Rho, expressed excitement about welcoming the Capital team to Rho. Cook believes that their expertise will complement Rho’s existing offerings, leading to better financial solutions for their customer base.
Capital, previously known as Party Round, underwent a rebranding in 2022 after raising $7 million from the Seven Six fund, a16z’s Anish Acharya, and Shrug Capital. The firm developed software aimed at simplifying the early-stage funding process for corporate capital. Remarkably, Capital raised its funding on its own platform, aligning with its mission.
Jordi Hays, co-founder and chief executive of Capital, stated that as founders themselves, they set out to build a banking platform that understands the needs of entrepreneurs. Hays is enthusiastic about joining Rho and contributing to the growth and evolution of their business.
Rho’s Funding Rounds
Since its launch in December 2020, New York-based Rho has successfully completed two funding rounds. In January 2021, the company raised $15 million in a Series A round led by M13 Ventures, Torch Capital, and Inspired Capital. Later in 2021, Rho secured $75 million in a Series B funding round, with investments from Dragoneer Investment Group, Inspired Capital, M13, Torch Capital, and DFJ Growth.