Slash raises $100M Series C at a $1.4B valuation
Outgrow Rho Banking
Slash delivers 2.7× the FDIC² coverage of Rho, up to 2%+ cashback¹ uncapped, and native stablecoin rails. Most teams switch in about five minutes.
No monthly fees. Keep your vendors. Onboarding in minutes.
Why businesses switch from Rho to Slash
- Up to 2%+ unlimited cashback on eligible spend
- Stablecoin payments with direct on- and off-ramps
- Multi-entity financial management
- Global USD accounts for international businesses (100+ countries)³
- High-yield treasury⁶
- Integrated accounting infrastructure
- Real-time payment rails (RTP/FedNow)
Four reasons finance teams leave Rho
Cashback
Rho's corporate card tops out at 1.5% (daily payment terms) or 1% on the monthly-terms corporate credit card, which also requires a $75K minimum balance. Slash pays up to 2%+¹ on every eligible purchase, with no categories to track and no minimums.
FDIC² coverage
Rho's cash management sweep through American Deposit Management Co. (ADM) covers up to $75M across 400+ federally insured bank partners, each a Member FDIC². Slash places deposits across 800+ FDIC² insured banks via IntraFi, for up to $200M+ coverage — about 2.7× Rho's ceiling. Same $250K per-depositor-per-bank deposit insurance mechanic underneath, automated across the network to keep every FDIC insured bank placement under the per-institution limit.
Stablecoin rails
Rho has no USDC or USDT payment rails. Slash supports USDC, USDT, and USDSL natively with on- and off-ramps.
Treasury without the management fee
Rho's multi-asset treasury portfolios carry a 0.15%–0.6% management co. fee that comes off idle cash each year. Slash's treasury account delivers high-yield returns without the management fee, plus global USD accounts in 100+ countries³ and a developer-friendly API.
Everything Rho does — FDIC² insured business checking, savings accounts, corporate cards with no personal guarantee, bill pay, ACH transfers, accounts payable automation, expense management with reimbursements, treasury management, accounting automation, and QuickBooks / NetSuite integration — Slash does too. One financial platform that consolidates invoices, transactions, and financial tools into accurate real-time reconciliation for high volume growing companies often referred by their finance leads. Primarily built for operators running multi-entity holdcos — not just early stage startups.
Hear from businesses that switched
“We use Slash as our primary bank for outgoing payments — the cashback rewards are incredible, even better than Amex in our case. It's become an essential part of how we manage ad spend.”
Jay-Jay P.Founder & CEO, Hike Footwear“Slash's working capital solution was a game-changer — quick approval and innovative underwriting helped us launch our new store quickly and accelerate growth.”
Arjun DhillonACD Logistics“Before Slash, our finance team juggled multiple platforms for on ramps, custody, and banking. Now everything lives in one place, saving us countless hours and eliminating errors.”
Max SegallPrivy.io
Outgrow Rho. Switch to Slash.
Apply online. Migrate vendors, cards, and team access in one afternoon.
Understanding Rho Banking
Rho is a financial technology company in New York City. It offers banking services through FDIC² insured partner banks, not as a chartered bank. Rho targets early stage startups, founders, and accounting firms. Investors include Inspired Capital, Dragoneer, DFJ, and M13.
Business checking and corporate cards sit at Webster Bank, N.A., Member FDIC². Savings deposits are held through American Deposit Management Co. and its network of FDIC insured bank partners, covering up to $75M via cash sweep. That two-Member-FDIC structure differs from fintechs relying on a single sponsor like Evolve Bank & Trust.
Core features. Business checking accounts, savings accounts, corporate credit cards and corporate charge cards (no annual fee, no personal guarantee), expense tracking and reimbursements, AP automation that automates vendor payments, bill pay, and multi-asset treasury portfolios with a 0.15%–0.6% management fee. Integrations cover QuickBooks, NetSuite, and Xero. Rho's knowledge base and management services docs are solid. The platform works well for startups and mid sized businesses running light financial operations.
Where Rho falls short. Cashback below 2%. No stablecoin rails. Treasury takes a fee on idle cash. US-centric — no global USD in 100+ countries. ACH and wire transfers work, but no RTP/FedNow — every bill pay hits a same-day cutoff and batches for next-day settlement. Brex and Mercury compete for similar audiences, but finance teams running multi-entity operations or scaling past the first $5M in revenue tend to outgrow Rho within the first year.
Note: Rho (business banking) is separate from Rho Ventures (VC firm) and Rho Nutrition.
Switching takes 5 minutes
- Apply online. Five-minute application with your EIN and business details.
- Import vendors and team. Bulk-invite users, relink recurring bills, pull in saved payees.
- Move balances. Transfer cash on your timeline. Keep your Rho account open during the handoff.
FAQs
Ready to switch?
Open your Slash account. Earn up to 2%+ cashback¹, pay in stablecoin, and get $200M+ FDIC² coverage — 2.7× Rho's ceiling.
Footnotes
¹ Up to 2%+ unlimited cashback on eligible spend. Cashback tiers vary by plan. See terms at slash.com/cashback. ² FDIC insurance up to $200M+ is provided through Column N.A. and the IntraFi program, which distributes deposits across 800+ FDIC insured member banks. Standard FDIC insurance maximum is $250,000 per depositor, per Member FDIC bank, per ownership category. See terms at slash.com/legal/column-sweep-agreement. ³ Global USD accounts in 100+ countries for eligible international businesses. Country restrictions apply. ⁴ Treasury yield as of 2026-04; variable. $500K minimum balance qualifies. See terms at slash.com/treasury. Banking services provided by Column N.A., Member FDIC². Slash is a financial services company, not a bank. Treasury services are not FDIC² insured.