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doola Banking — A new way for LLCs to bank and build credit in the US
doola Banking enables entrepreneurs around the globe to open a business bank account in the US. As of today, all companies formed with doola have access to doola Banking and are eligible to receive a business credit card — no credit history or SSN required.
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That's amazing. I have a C corp right now so not your target market but as a foreign founder I can appreciate these tools and services so much - particularly building a credit rating.
@sven_radavics I think we can still help you 👀 hmu at arjun at doola dot com!
@arjunmahadevan Congrats on the launch 🚀
At Bonfire Capital, we have been using Dolla for Company Formation, and Banking needs. They have been a great partner not only in solving our needs to democratize real estate investing but also in solving some of the problems that exist in the current banking world. We are already using Dolla banking and highly recommend it to everyone.
Hey Hunters! 👋
It’s time to open the floodgates: today we’re officially opening doola Banking out of beta to founders around the world — allowing you to form a US LLC and get a US business bank account, remotely with or without a US SSN.
We believe finance should not be walled off, but part of the conversation of formation and incorporation.
Our mission is to democratize access to the US financial ecosystem and empower anyone to turn their dream idea into their dream US business. It's hard enough for founders in the US to start a US business. The whole process is stupidly complicated, time-consuming and expensive. For founders globally, it’s, even more, migraine-inducing.
doola Banking changes the game for global founders.
We are now an all-in-one platform to:
- 🗂 Register your US LLC or DAO LLC
- 🏦 Open your US bank account
- ✅ Keep your LLC compliant with Total Compliance (State Filings, IRS Filings, and Bookkeeping).
All. In. One. Go. No US SSN required.
We’re excited to continue empowering founders across the globe to turn their dream idea into their dream US business.
Lastly, if you haven't heard of doola before here's more on us: doola helps global entrepreneurs form U.S. LLCs and DAO LLCs by supporting customers through the incorporation process so they can confidently collect payments, build credibility, stay legal, and make more money. doola provides company formation, an EIN, a U.S. address and bank account, access to U.S. payments, tax consultations, U.S. tax support, $50,000 in startup perks, and more. Today, companies on every continent (except Antarctica, if you're from Antarctica please message us!) have launched with doola, and these founders didn’t need a US social security number to benefit from doola’s products and services. doola's motto is "we only succeed if our customer's businesses succeed" but don't take our word for it, hear what founder's around the world have to say about working with doola: https://www.trustpilot.com/revie...
@arjunmahadevan congratulations on the launch - this was an issue I didn't even realize I would have. Thank you 👏
@arjunmahadevan this is amazing, Arjun! Congrats on the launch and the big problem that you're solving!
My only issue with doola (haven't used it for incorporation) seems to be the lack of transparency in the pricing.
I read that Doola seems to charge a monthly subscription fee of $199 on top of other expenses for incorporation? Point being, it's not clear what exactly is the cost of incorporation with Doola.
Sources: https://mercury.com/guides/artic...
Also, this doesn't mention the monthly fee: https://www.doola.com/blog/strip...
@arth_tyagi hi Arth! the cost of incorporating with doola is $197 + state fees, which includes your company formation, EIN, operating agreement, and registered agent service for 1 year.
Any subscriptions outside of the $197 + state fee price are optional and currently include tax, compliance, and bookkeeping packages to manage your business after incorporation.
@kenna_ Ah I see. I looked more into it. The pricing was actually pretty transparent after I finished the whole CTA-questionnaire. Looks neat. I just wish it was as clear as that "Order Summary" somewhere else on the website as well.
@arth_tyagi glad you had a good experience with the rest of the process! will update the website soon to make it as clear as well 😄
Banking in the US, building a credit score in the US and accessing global banks and payment options without requiring a SSN is mind blowing. This lowers the banking barrier and is a game changer for global founders. Congratulations!!
Global interest in getting a US LLC and bank account has never been greater! This product will be a huge hit!
Carry