Open accounts in minutes, manage everyday banking needs without fees, safeguard cash, maximize yield, and access capital—all in one platform in partnership with trusted banks. [Arc is a technology company, not a bank: arc.tech/general-disclosures]
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5.25M in FDIC coverage is incredible. Congrats on the launch!
@angelo_ramos1 thanks!! We also offer $500,000 incremental SIPC Coverage on our money market funds with Vanguard / Blackrock. They’re yielding 5-5.5% APY with same day liquidity. Any residual deposits can be invested in T-Bills, backed by the US Goverment so we can effectively protect 100% of your funding in yield bearing assets.
@raffi_sarkissian1 That's right - we serve EU-based companies today that have EINs. We're exploring paths to serving international companies without EINs as well. Stay tuned!
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This is awesome and many founders I know have started to use Arc. It’s imperative for the startup ecosystem for their to be a founder-friendly, startup-first mentality banks. The larger banks can’t have that white glove treatment and care given how enormous the orgs are and it’s been awesome to see the feedback coming in about Arc from various founders I work with. Thank you for doing this! Would love to learn a bit more about the roadmap - eventually where do you see yourself in the startup banking ecosystem, and what are some offerings that we should look forward to?
@jessica_leao1 thanks Jessica. So great to hear that you know founders using our platform!! The 3 core pillars of our platform are Banking, Funding, and Spending. With todays launch on PH, we’ve introduced the first 2 pillars to the tech community.
Next, we’ll continue to invest in the banking features and credit products that our customers are asking for. This includes automated T Bill Ladders and Venture Debt.
Coming soon, we’re building a range of spend products and tools so founders never need to leave the Arc app for a full service finance experience.
Are there any banking funding or spend features that your portfolio companies or founder friends would find most valuable?
If so, we’d be happy to prioritize!!
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I’m so stoked to see a platform that combines banking, funding, and spending for startups! Congratulations on your milestone!
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