Rho

No. Rho is a fintech company that provides software and interfaces for business banking. Checking and card services are provided by Webster Bank, N.A., and savings account services are handled by American Deposit Management Co. and its partner banks. Customer funds held outside Rho's direct balance sheet are FDIC-insured through those partner banks.

Rho earns revenue through interchange fees on corporate card transactions and from interest income on customer deposits swept to partner banks. The firm does not charge per-seat fees or monthly subscription costs, nor does it engage in direct lending. This asset-light model ties its revenue to platform usage and prevailing rates on swept cash.

Rho's core differentiator is its pure non-lending posture. The firm does not extend credit or hold a loan book; all deposit accounts and card issuance sit on Webster Bank's balance sheet. This contrasts with Brex's historical reliance on a corporate card credit product and Ramp's cash-back interchange model, positioning Rho as a purely fee-based software layer.

Rho targets companies from pre-incorporation through large-scale public enterprises with over 10,000 employees. Its marketing emphasizes a platform that works from 'day zero incorporation' to post-IPO. Testimonials highlight founders and finance leads at early-stage ventures, but the product suite supports multi-entity, high-headcount organizations.

Checking deposits are held at Webster Bank, N.A., a nationally chartered FDIC-member institution. Savings and treasury balances are managed by American Deposit Management Co., which distributes funds across a network of partner banks to maximize FDIC coverage and yield. Rho itself does not hold deposits on its own balance sheet.

Rho does not operate physical bank branches. All account setup, card management, and support are handled digitally or through dedicated implementation teams. The firm emphasizes remote onboarding and real-time chat support with response times under one minute.