Vergo blends elements of banking with the functionality of project management and accounting software to serve the specific needs of designers, architects, and contractors. After filling out a short business application form and receiving approval, new users can download the Vergo app and move money into an FDIC-insured checking account, which is connected to a debit card. That card offers at least 1% cashback on spending in categories such as furniture, decor, and building materials.
The time-saving value of Vergo lies in its ability to stay on top of a project’s finances with very little time or effort. Users can instantly tag purchases, payments, invoices, and more to associate them with a specific project, thereby automating the process of tracking expenditures and revenues across work streams.