New York and Bengaluru, India –
Doola today announced the launch of a global corporate banking product that enables founders to remotely open a US bank account from any continent without the need for a Social Security number. Founders around the world can now register an LLC, DAO LLC or C Corp using doola, obtain an Employer Identification Number (EIN) from the US Internal Revenue Service (IRS) and open a bank account with doola. In addition, doola also provides ongoing US law and IRS compliance to maintain corporate compliance, making doola an integrated platform for founders to start, maintain and grow their US businesses.
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doola helps global web2 and web3 entrepreneurs easily set up their LLC, C Corp or DAO LLC in the US (Wyoming, Delaware and all other states) with support including EIN, US address, US bank account, payment gateway, ongoing status compliance and tax returns for the benefit taxes. (Photo: Business Wire)
The doola banking product includes, but is not limited to, a merchant checking account for domestic and international bank transfers, virtual cards, a physical debit card that can be sent to founders anywhere, and tools and features for seamless integration with your US entity.
For any business, whether it’s a venture-backed SaaS startup with Delaware C Corp or a solo entrepreneur running an e-commerce business, a reliable, stable and scalable banking and payments stack is essential. With doola, international founders can seamlessly access the US financial system, including US banking and payment solutions, and access US venture capital,” he explained. Jacqueline ReeseAnd Investor in Doola, Chairman of the Economic Development Board at the Federal Reserve Bank of San Francisco and former president of Square Capital.
Arjun Mahadevan, CEO of Doola stated: “From the start, we know doola is not a startup service. We are a FinTech company. Founders around the world don’t currently want a company; they want to accept worldwide payments in US dollars or accept investments from US investors. doola Banking makes our platform the fastest way to transition from starting a business Business to accept your first payment/deposit anywhere in the world Why? Because we do it all at home. It’s just a click of a button to set up a business and get an EIN and a bank account, with the constant focus on ongoing compliance with law US and IRS filings. As our customers often say: We are a business in a box.”
doola (formerly StartPack, YCombinator S20) helps global Web 2.0 and Web 3.0 entrepreneurs form LLCs, C Corps, and DAO LLCs in the United States by assisting clients through the incorporation process so they can reliably collect receivables, Build credibility and legitimacy and make more money in the process. doola offers, among other things, company formation, obtaining an Employer Identification Number (EIN), US address and bank account, access to US payments, free tax advice, US tax assistance, a phone number and a $50,000 start-up feature. Today, hundreds of companies have started a business with doola and do not need a US Social Security number to benefit from doola products and services. The company is led by Arjun Mahadevan, former Dropbox Growth Product Manager, an American immigrant, and JP Pinchera, a veteran stack engineer and foreign founder from Chile. (Headquarters: New York City)
Dolla is a fintech company, not a bank. Banking services are provided by Piermont Bank (member of the FDIC). The doola Visa® Debit Card is issued by Bank of Piermont under license from Visa USA Inc. It can be used anywhere Visa debit cards are accepted.
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Source: Business Wire
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