Novo is a business banking platform that aims to simplify financial management for small businesses. It offers a range of banking services tailored specifically to the needs of startups and entrepreneurs. Novo provides features such as online banking, expense tracking, invoicing, and integration with popular accounting tools.
Novo was founded in 2016 by Michael Rangel and Tyler McIntyre. The duo recognized the challenges faced by small businesses in accessing traditional banking services, which often have complex processes, high fees, and inadequate customer support. They wanted to create a modern banking solution that caters specifically to the needs of startups and small businesses.
The company received funding from leading venture capital firms and established partnerships with financial institutions to build its platform. Novo officially launched its banking services in 2018, offering a streamlined and user-friendly experience to business owners. It aims to empower entrepreneurs by providing them with the tools and resources necessary to manage their finances effectively.
One of the key features of Novo is its integration with various third-party applications commonly used by small businesses, such as QuickBooks, Xero, and Slack. This integration allows users to seamlessly sync their financial data and streamline their workflows. Novo also offers expense categorization, digital card issuance, and instant notifications to help businesses stay on top of their financial activities.