How Much Did Rho Technologies Raise? Funding & Rounds and Investors

Rho Technologies, also known as Under Technologies, Inc. DBA Rho Technologies, is a fintech company founded in 2018 by Everett Cook and Alex Wheldon. Operating in the financial technology sector, Rho Technologies has established itself as a comprehensive business banking platform based in Durham, North Carolina, with an international presence in Riga, Latvia. The company’s platform integrates corporate cards, banking, treasury, expense management, bill pay, and accounting automation, helping businesses automate finance workflows, control spending, and drive scalable growth from startups to public companies.

Rho Technologies funding history demonstrates significant traction in the fintech sector, having raised over $200 million across five funding rounds. Notable milestones include a $75 million Series B led by Dragoneer Capital and DFJ Growth, and a $100 million credit facility in 2023 from Community Investment Management to boost lending operations and market expansion. The company’s strategy has focused on fueling product development, expanding its financial operating system, and scaling operations through strategic venture capital investment. Rho Technologies investors represent some of the most prominent names in the tech investment ecosystem.

Funding Rounds

Seed Round - $4M - February 5, 2025

This latest seed round was raised to support Rho Technologies’ initial launch and product development, enabling the company to build a robust foundation for its business banking technology.

Seed Round - $2.2M - November 16, 2023

The previous seed round was focused on early-stage product development and setting the stage for market entry, providing crucial capital to refine the core offerings before larger growth rounds.

Key Investors

Community Impact Management

Community Impact Management played a vital role as a key investor by providing $100 million in financing to expand Rho Technologies' lending and banking operations, supporting growth into new verticals and customer acquisition.

M13 Ventures

M13 Ventures is a prominent venture capital firm that led Rho Technologies’ Series A round, backing the company’s operational expansion and ongoing technology development.

Inspired Capital

Inspired Capital participated in Rho Technologies funding rounds, contributing to the early-stage investment needed to accelerate platform growth and market penetration.

Rogue Capital

Rogue Capital has supported Rho Technologies as an early-stage investor, bolstering its financial resources for product scaling and strategic growth.

Torch Capital

Torch Capital joined other major Rho Technologies investors by participating in critical early rounds, supporting product development initiatives crucial for market differentiation.

Dragoneer Investment Group

Dragoneer Investment Group led the Series B funding round, bringing both capital and deep fintech expertise to drive Rho Technologies' expansion strategy and financial product innovation.

DFJ Growth

DFJ Growth, another lead in the Series B round, provided growth-stage venture capital to help Rho Technologies scale beyond its initial markets and support its long-term growth trajectory.

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