Saved per week
Founder + CEO
Liverman recalls how, as a small business, Glowbar’s previous bank wasn’t invested in their success.
As studios multiplied, Glowbar wanted to enable new managers to take charge of their finances. For Liverman, Rho was a perfect fit for the collaborative business model they envisioned.
“We happened to find Rho just as we were starting that process,” she said. “You could say the timing was serendipitous.”
Glowbar now uses Rho to manage their finances across 4 entities as well as physical and virtual corporate cards. Throughout their partnership, Glowbar’s team has grown from four to 40, with Rho matching them every step of the way.
As they’ve opened new locations, Glowbar has set up an account for each studio. Now, managers can take ownership of their P&L, oversee balances and transactions, and gain insight into how their studio is performing. At the same time, executives feel secure using Rho’s built-in controls and budgeting tools to monitor access and hold managers accountable.
For Liverman, onboarding new employees to Rho’s platform and assigning corporate cards has been quick and seamless.
She estimates Rho saves Glowbar’s leadership 2 hours per week by allowing managers to tackle some of their finances independently. And they’ve discovered extra perks in the process. For instance, Liverman loves that Rho doesn’t charge for wire transfers.
“It’s a small detail,” she said, “but the fact that we don’t pay $25 per wire is huge. We wire out all the time, and it’s just a cash cow for most banks.”
Glowbar is excited to keep exploring Rho’s business banking suite and plans to try the Accounts Payable feature next. "We don't use bill.com any more, we do everything with Rho."
So far, Rho’s attentive service has brought Glowbar a long way. Liverman noticed the difference right off the bat.
Today, Glowbar is working on coast-to-coast expansion, and they hope to reach 100 studios before long. Through it all, Liverman expects to have Rho by their side.
“We’re going to need a strong banking partner as we go nationwide, and we’re confident that Rho will get us there.”
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.