Spend and cash manager Rho lands $75m Series B

Corporate spend and cash management company Rho has secured £75m in a Series B funding raise.

The financing round was led by Dragoneer Investment Group also saw participation from DFJ Growth, Inspired Capital, Torch Capital and M13.

Established in 2018, Rho allows users to manage corporate cards, banking, AP and global payments from a single, tech-forward platform that also enables its users to automate their finance workflows and get expert, personalised support.

Rho currently employs over 80 people and has raised $205m in equity and debt financing to date. Other investors of the company include ConsenSys and Community Investment Management.

According to Rho, it intends to use the newly raised funding to continue investing in innovation with a particular focus on simplifying finance operations for organisations.

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