Novo

About

Novo provides a digital banking platform for small business owners, entrepreneurs, and freelancers.

Miami,Florida,United States
101 - 250
https://www.novo.co

Highlights

Details

Last Funding Type: Non-Equity Assistant
Industries: B2B,Banking,Financial Services,FinTech
Founded date: Jan 1, 2016
Number Of Employee: 101 - 250
Operating Status: Active
Legal Name: Novo Platform Inc.
Also Known As: Bank Novo

Novo is a digital banking platform for small business owners, entrepreneurs, and freelancers. It provides better business deposit accounts to today’s companies and is powered by a network of FDIC-insured community banks.

The company was founded in 2018 by Tyler McIntyre and Michael Rangel and is headquartered in Miami, Florida.

Funding Rounds

Number of Funding Rounds

Total Funding Amount

9

$170.50M

Novo has raised a total of $170.50M in funding over 2 rounds. Their latest funding was raised on Nov 22, 2022 from a Series B round.

Announced Date	Round	Money Raised	Number of Investors	Lead Investors	Post Valuation
Nov 22, 2022	Series B	$35M	1	GGV Capital	—	Detail
Jan 11, 2022	Series B	$90M	5	Stripes	—	Detail
Jun 16, 2021	Series A	$40.70M	6	Valar Ventures	—	Detail
Mar 29, 2019	Seed	$4.80M	6	Crosslink Capital	—	Detail
Mar 20, 2019	Pre-seed	—	1	—	—	Detail

Investors

Number of Lead Investors

Number of Investors

6

18

Novo is funded by 18 investors. GGV Capital and Stripes are the most recent investors.

Investor Name	Lead Investor	Funding Round
GGV Capital	Yes	Series B
Stripes	Yes	Series B
DCU FinTech Innovation Center	Yes	Non-Equity Assistant
BoxGroup	—	Series B
Crosslink Capital	—	Series B
Rainfall Ventures	—	Series B
Valar Ventures	—	Series B
Bossanova Investimentos	—	Series A
Red Sea Ventures	—	Series A
Hack VC	—	Seed