Deliver Your News to the World

Arc Launches Arc Platinum, The First Premium Banking Experience For Startups


San Francisco – WEBWIRE
  • Arc Platinum is the first premium cash management experience built on diverse financial partners. With 0.00% Arc management fees, Arc Platinum offers the highest yield available on the market.

  • With Arc Platinum membership, startups protect their deposits with diverse financial partners, maximize yield and deposit protection, receive dedicated support from Relationship Managers, and access founder-focused wellness benefits, among others.

  • Existing Arc Platinum members save over $50,000 annually on average by switching to Arc.



SAN FRANCISCO (Sept. 20, 2023) — Arc, the future of startup finance, today announced Arc Platinum, the first premium cash management experience for startups. Arc Platinum offers market-leading cash management and capital products to help startups protect, manage, and grow their cash. Arc Platinum is a membership program currently only available by invitation, which startups can request via the Arc website.

Arc Platinum membership features include:

  1. Yield-bearing operating accounts with deposits held across a diverse set of financial partners.

  2. Waived management fees on treasury management - positioning Arc Platinum as the highest-yielding brokerage solution in the market.

  3. Dedicated relationship managers providing 24/7 support and equipped with data-driven financial insights.



Arc Platinum was built with high-growth venture-backed startups in mind. To that end, membership also includes exclusive discounts on venture debt, revenue financing, and securities-backed lending through the Arc platform, as well as early access to Arc Intelligence (coming soon), a suite of AI-driven financial software tools designed to drive automation across the cash management experience, and complimentary account migration services. Finally, Arc Platinum membership features monthly health & wellness reimbursements.

Starting at just $249 per month, Arc Platinum provides on average $50,000 in incremental earnings each year for the average Series A startup compared to their traditional banking stack. Startups also receive complimentary access to Arc Platinum for three months when they sign up before September 30, 2023, and receive 50% off the monthly membership thereafter when they use their Arc account to fund their company’s payroll through Rippling, Gusto, and other providers.

“Arc Platinum is the first ‘board-approved’ digital cash management solution for startups,” said Don Muir, CEO and Co-Founder of Arc. “In the aftermath of the regional bank crisis, venture-backed tech startups have moved their deposits from their tech-focused community banks to the world’s largest financial institutions. CFOs are now forced to choose between the perceived safety that comes with a systemically important financial institution and the dedicated support, higher-yield, and frictionless product experience that comes with their smaller peers. Arc Platinum changes this paradigm. For the first time, startups can seamlessly diversify their hard-earned capital, while simultaneously earning the highest yield available in the market.”

“The miracle of Arc Platinum is that it finally treats startups as first-class customers — combining protection, service, and speed in a single platform,” said James Currier, Founder and General Partner of NFX.

“Arc Platinum gives our finance team and board of directors the peace of mind that our capital is being safeguarded,” said Vivas Kumar, CEO and Co-Founder of Mitra Chem. “At a time when traditional banks were slower to support the early stage startup ecosystem, Arc stepped up as a banking partner that prioritized safety & reliability while relying on a software-driven platform that made working with their system incredibly smooth from our first touchpoint.”

The launch of Arc Platinum follows the introduction of Arc Venture Debt, which delivers competitive terms to startups ~5x faster than offline lenders on average through automated onboarding and API-driven underwriting processes. With Arc, startups can instantly convert future revenue into upfront capital to invest in growth without dilution, and when their next equity round is closed, they can tap into venture debt to unlock additional capital. They can deposit this cash into their operating account yielding 1.35% APY , diversify it through bank sweeps equipped with $5M FDIC insurance eligibility, and invest it in money market funds and U.S. Treasury Bills that generate up to 5.5% APY—all in one platform.

To learn more about Platinum and request an invite, visit https://www.arcplatinum.com/

About Arc

Arc is the future of startup finance. Founded in 2021, Arc provides startups with the financial products they deserve, including cash and treasury management as well as embedded financing. The company is based in San Francisco and is funded by Left Lane Capital, NFX, Bain Capital Ventures, Clocktower Technology Ventures, Torch Capital, and Y Combinator, among others. To learn more, visit www.arc.tech.

Note: Arc is a financial technology company, not a bank or an investment advisor. Arc partners with Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC. Advisory services are offered through Atomic Invest LLC, an SEC-registered investment advisor, Member SIPC. Atomic Invest was previously known as Helium Advisors LLC. Arc receives compensation as a percentage of assets managed by Atomic Invest for promoting their advisory services. Brokerage services are provided by BNY Mellon Pershing, Member SIPC, through a clearing and custody relationship with Atomic Invest. Atomic Invest manages and executes investments on behalf of customers. Read additional disclosures here.

Media Contact

Natalie Bartels

VSC for Arc

arc@vsc.co



WebWireID311321




 
 Arc
 Fintech
 Platinum
 Finance
 Startups


This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.