Case Study: Hanover Park achieves faster fund banking and yield on operating cash with Meow

Hanover Park modernizes fund banking with Meow for $30B+ in assets

Hanover Park, an AI-native fund administrator with over $30 billion in assets under administration, sought a modern banking partner for its venture capital fund clients. Their challenge was that legacy banks caused significant friction, resulting in slow account openings that took weeks, a lack of visibility across multiple fund entities, and an inability to earn yield on operating cash, which often sat at 0%. They partnered with Meow to implement its Business Checking and Spend Management products to address these issues.

By implementing Meow, Hanover Park's clients gained access to multi-entity dashboards for real-time cash visibility, earned native APY on operating funds, and received enhanced FDIC insurance. The solution provided by Meow enabled same-day onboarding for new entities, replacing a process that previously took days or weeks. This modern infrastructure allows funds to passively earn yield, which boosts their internal rate of return (IRR), and provides a seamless, multi-entity banking experience.

Hanover Park