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Fabric Finds Seamless Growth With Rho

How Rho’s all-in-one business banking suite is streamlining finance for a modular commerce platform

Industry

SaaS

Products

Accounts Payable

Banking

Corporate Cards

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$60,000
Saved per year in fees ‍
800%
YOY Growth
$153.5 Million
Raised to date
Overview
The Challenge
& Solution

Fabric’s business was surging month over month, but the expense and inefficiency of disconnected banking, corporate card, and AP services were weighing them down.

Leveraging Rho’s efficient and fee-free financial tools, Fabric is on pace to become the fastest-growing SaaS company in the world.

About The Client
Easy eCommerce
Easy eCommerce
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The Challenge
Steep Scaling

After being in stealth for over a year, Fabric burst into the SaaS scene in mid 2020, and their intuitive e-commerce tools immediately took off among retailers. “Since coming out of stealth, we’ve grown exponentially, compounding ARR at 24% month over month,” said CFO Nevin Shetty.

There was just one snag: many financial solutions on the market posed an obstacle to expansion with slow service and high price tags.

“I was used to banks taking multiple days to resolve an issue and charging exorbitant fees for wires, ACH transfers, and account maintenance—totaling $5,000 a month,” said Shetty. “Quite frankly, that’s unacceptable when you’re growing at 800% year over year. We needed a financial partner that’s as fast as we are in order to scale successfully.”

That’s why Shetty transitioned Fabric to Rho.

The Solution
An Automated,
All-in-One Solution
Nevin Shetty
“Since I don’t have to spend time entering AP data, managing logins, and double-checking reports, I can work on things that truly add value to our business”
Nevin Shetty,CFO at Fabric
Savings Across The Board
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1 / 4
The Future
Moving Forward

Currently, Fabric is on pace to be the fastest-growing enterprise SaaS company in the world, having just raised $100 million in their Series B.

“We have boundless potential,” said Shetty, “and we’re scaling very quickly on an international level. We’re at about 150 people today, and we’ll double that in the next 12 months.” As they look toward the future, they’re glad to have Rho by their side.

“Having a tech-enabled banking solution and a solid financial partner is essential as our transactional volume multiplies,” said Shetty. “We know Rho is right for the job.”

back grow

Enroll today, completely free.

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.

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Global payments
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