Rho Acquires Capital
Rho, a B2B all-in-one financial platform, has recently acquired Capital, a fundraising and banking platform. The exact figures of the transaction were not disclosed. This strategic acquisition is expected to attract more start-up customers to Rho’s platform.
Welcoming the Capital Team
The Chief Executive and Co-founder of Rho, Everett Cook, expressed his excitement about welcoming the Capital team to Rho. Cook believes that the expertise of the Capital team will be a great complement to Rho’s existing offerings. They aim to work together to provide even better financial solutions to their customer base.
Capital, previously known as Party Round, rebranded in 2022 after raising $7m from the Seven Six fund, a16z’s Anish Acharya, and Shrug Capital. The company has developed software aimed at making the early-stage funding process for corporate capital easier. They raised their own funding on their own platform, aligning with their mission to cater to founders’ needs. Capital’s Co-founder and Chief Executive, Jordi Hays, expressed excitement about joining Rho and contributing to their growth.
Growth of Rho
Rho, based in New York, has experienced significant growth since its launch in December 2020. The B2B platform secured $15m in a Series A funding round led by M13 Ventures, Torch Capital, and Inspired Capital in January 2021. In the following year, Rho raised $75m in a Series B funding round, with investments from Dragoneer Investment Group, Inspired Capital, M13, Torch Capital, and DFJ Growth.