Robora Financial is a fintech company providing high-yield deposit accounts through partnerships with FDIC-insured banks. Customers earn a competitive Annual Percentage Yield (APY) on their deposited funds. The platform automates deposit placement across a network of banks to maximize insurance coverage and yield potential.
Funding
Funding not disclosed
Founders
Product
Problem
Many businesses and individuals fail to maximize returns on excess cash due to the complexities and time investment required for active cash management. Traditional high-yield options often necessitate changing primary banking relationships, disrupting established payment workflows.
Solution
Robora Financial automates excess cash management by linking to existing bank accounts and seamlessly transferring funds to a high-yield deposit account. The platform identifies excess cash using a proprietary cash flow management tool or user-defined parameters, then initiates automated transfers to optimize earnings. Users maintain their existing banking relationships while benefiting from a competitive annual percentage yield (APY) on their savings. Robora provides a secure and efficient solution for businesses and individuals to unlock the hidden potential of their cash reserves.
Target Audience
Robora Financial targets businesses and individuals seeking to maximize returns on excess cash without disrupting their existing banking relationships.
Features
- Secure account linking with Plaid for seamless integration with existing bank accounts
- Proprietary cash flow management tool to identify and calculate excess cash
- Automated cash transfers based on user-defined rules and thresholds
- High-yield deposit account with a competitive APY
- FDIC insurance through partner bank, OMB Bank, and IntraFi's ICS service
- Free cash analytics and management tool
- Unlimited transfers
- Free Same Day ACH and Standard ACH transfers