If juggling a separate bank account, corporate card, and Bill.com subscription has your startup frustrated, you’ve probably looked into Rho, Brex, and Mercury. These platforms promise to unify your financial stack, but their approaches differ significantly.
This guide compares their offerings to help you choose the right all-in-one finance platform for your startup in 2025.
Key Takeaways
- All three platforms consolidate banking, cards, bill pay, and treasury into one place.
- Brex evolved from corporate cards, Mercury from startup banking, and Rho was built as a unified platform from day one.
- For scaling startups seeking deep integration, Rho delivers the most cohesive experience.
Platform Overview
Rho
Rho is an all-in-one finance platform designed to unify banking, cards, AP automation, and treasury under a single interface. Its products are built together intentionally, making workflows seamless and fully integrated.
- Integrated Banking: FDIC-insured accounts with automated cashflow management.
- Accounts Payable Automation: Create, approve, and pay invoices in-platform.
- Corporate Cards: Up to 2% cashback, customizable controls, and dynamic limits.
- Treasury: Extended FDIC coverage up to $75M with U.S. Treasuries and money market funds.
- Pricing: No subscription fees; core features included.
Brex
Brex started as a corporate card provider and now positions itself as a global spend management platform.
- Brex Business Account: Cash management with extended FDIC coverage up to $6M.
- Global Corporate Cards: Physical & virtual cards, multi-currency support, points-based rewards.
- Bill Pay: AI-powered invoice capture, approvals, and payments.
- Treasury: Invest idle funds in government money market funds with same-hour liquidity.
- Pricing: Tiered subscription model with per-user pricing for premium features.
Mercury
Mercury is an API-first banking platform built for early-stage, tech-savvy startups. It layers additional products around a best-in-class banking core.
- Banking: Free checking/savings, FDIC coverage up to $5M, programmatic API access.
- Corporate Cards: 1.5% cashback, integrated spend controls.
- Bill Pay: Manage payments via ACH, wire, check, or card.
- Treasury: Invest idle balances into U.S. securities and money market funds.
- Pricing: Free for core banking; some advanced features may incur fees.
Rho vs. Brex vs. Mercury: At a Glance
| Feature | Rho | Brex | Mercury |
|---|---|---|---|
| Platform Model | Fully unified platform; banking, cards, AP, treasury built together | Global spend platform built around its corporate card | API-first banking platform with added tools around it |
| Best For | Scaling startups needing deep integration | Global companies prioritizing spend management | Tech-savvy startups seeking programmable banking |
| Pricing | No platform fees | Tiered, per-user subscription fees | Free for core banking |
| Corporate Card | Up to 2% cashback | Points-based rewards | 1.5% cashback |
| AP Automation | Native, single-ledger integration | AI-powered bill pay, integrated | Bill pay layered onto banking |
| Max FDIC Coverage | Up to $75M | Up to $6M | Up to $5M |
Final Thoughts
Choosing the right all-in-one finance platform depends on your company’s priorities:
- Rho — Best for startups seeking a deeply integrated, no-fee financial operating system.
- Brex — Best for global companies prioritizing spend management with premium support.
- Mercury — Best for early-stage, API-driven startups wanting programmable banking.
For companies replacing a fragmented financial stack with a single, scalable solution, Rho offers the most cohesive platform in 2025.