Corro realized that their conventional bank wasn’t meeting their needs. COO Drew Rudebusch, saw firsthand how onerous policies and clumsy processes were stifling the company’s growth.
According to Rudebusch, Corro’s original bank acted more like a gatekeeper than a partner. Their dated approach to customer experience, copious paperwork, and time-consuming back and forth gave Corro very little leeway when it came to investing in growth. “It was like pulling teeth. We had to pay our card every other day just to make sure we still had available credit.” says Rudebusch.
After growing frustrated with restrictive policies and a lack of support, Corro partnered with Rho.
With Rho in their corner, the first order of business was to free up lines of credit so that Corro could focus on scale and growth rather than their current balance.
With Rho’s flexible corporate card, Rudebusch was able to easily manage payment terms, cash back, and spend controls, all while benefiting from a massive 3x increase in spending limit.
Rudebusch was also able to order new physical cards and issue unlimited virtual cards to employees in the space of an afternoon, a process that took weeks at Corro’s previous bank. This allows Corro the flexibility and financial backing they need to meet new challenges as they arise.
That efficiency extends to the entire Rho experience. Getting set up was fast and pain free. Within a day, Corro secured approval, established and funded their Rho account, and integrated Quickbooks–allowing them to get started immediately.
Rho’s accounts payable solution gives Corro the tools to ensure bills are paid and automatically reconciled with Quickbooks, saving time and effort. Within one, single dashboard he is also able to set roles and permissions, approve invoices, revoke cards, assign budgets, and see Corro’s spend in real-time, freeing him to focus elsewhere.
Part of that change is rewarding spending with a comprehensive savings program. With Rho’s no-fee global payments, Corro saves money every time they pay a vendor or contractor. They also earn up to 1.5% cash back on their card spend, turning their AP centre into a source of savings.
For a young company, that’s more than just a perk, the cash back earned can add up to the equivalent of a full-time hire.
What most impresses Rudebusch is the support and guidance Rho provides alongside their game-changing technology. “Our last bank approached our relationship like we were going to fail, and they needed to protect themselves. Rho knew we’d succeed and actively helps us get there.”
Rho saw Corro’s potential and gave them the tools and support to drive rapid growth. At the same time, Corro gained a partner that could guide them while growing alongside them.
Rho is open to businesses with an initial deposit above $50,000 or corporate card spending commitment in excess of $5,000 a month. Although we don’t charge a fee for using banking, some services carry additional fees. Terms & conditions apply.