Rho acquires fundraising and banking platform Capital in undisclosed deal
Rho, a B2B all-in-one financial platform that allows organisations to bank on, acquired Capital, a fundraising and banking platform for an undisclosed amount
Rho, a B2B all-in-one financial platform that allows organisations to bank on, acquired Capital, a fundraising and banking platform.
The transaction, which the company did not disclose figures on, is set to help and attract start-up customers to Rho’s platform.
"We're thrilled to welcome the Capital team to Rho," Everett Cook, chief executive and co-founder of Rho said.
"We believe their expertise will greatly complement our existing offerings, and we look forward to working together to provide even better financial solutions to our customer base."
Capital, previously known as Party Round, rebranded in 2022, almost a year after raising $7m from the Seven Six fund, a16z’s Anish Acharya, and Shrug Capital.
The firm built software that is aimed at making the early-stage funding process for corporate capital easier – true to its mission, it raised its funding on its own platform.
"As founders ourselves, we set out to build a banking platform that leverages our acute understanding of founders' needs," Jordi Hays, co-founder and chief executive of Capital said.
"We're excited to join Rho and help them continue to grow and evolve their business.”.
New York-based Rho has gone through two funding rounds since its launch in December 2020, raising $15m in January 2021 Series A round led by M13 Ventures, Torch Capital, and Inspired Capital.
The B2B platform went on to raise $75m at the end of 2021 in Series B funding round with investments from Dragoneer Investment Group, Inspired Capital, M13, Torch Capital, and DFJ Growth.