According to reports, Rho has received funding of $75m from DGJ Growth and Dragoneer Investment Group. The cash management and corporate spending platform have grown ten times in the last year. Inspired and pushed by innovation, Rho introduced its corporate card in May 2021, along with its integrated accounts payable products in January 2021. The company’s CEO and co-founder, Everett Cook, remarked that Rho has witnessed considerable growth in the last 12 months, and the new funds will help it to grow and expand considerably. He also opined that it will be able to add several new products and facilities to its platform.
Launched in 2018 by hedge fund investor Evrett Cook and entrepreneur Alex Wheldon, Rho, with its innovation and product management, serves as a unique platform comprising everything from spend management to cash management. It aims to make finance smooth and hassle-free for several enterprises. Fabric is one of the leading players in the field. Rho has already scaled up its growth by balancing out their finances likewise. The customer growth rate of Rho has helped the entity to analyze the sheer importance of its product offerings for companies.