Rho Technologies, the NYC-based fintech company providing a business banking platform, raised $100m in debt financing.
Global impact investment firm Community Investment Management provided the financing.
The company intends to use the funds to invest in strategic initiatives and broaden its service offerings to business clients.
Founded by former Point72 and Deutsche Bank alum Everett Cook and British-Canadian serial entrepreneur Alex Wheldon, Rho Technologies is a fintech company providing the Rho Business Banking, a finance platform built to allow business teams to work together.
The platform’s approach consists of a single solution that encompasses both collaborative finance software and commercial-grade banking, which together help businesses save time, money, and effort as they grow. Clients are all supported by its team of business bankers and capital markets professionals.
Banking services are provided by Evolve Bank and Trust, member FDIC.
To date, the company has raised $20m of equity capital from institutional investors, including Inspired Capital, M13 Ventures, ConsenSys, and Torch Capital.