Wallets/novo
Novo
0 standards supported
Overview
Novo is a US business-banking fintech for small businesses and freelancers, operated by Novo Platform Inc., founded 2016 and broadly launched from 2018 1, 2. Novo offers a fee-light business checking account, debit card, invoicing, integrations with tools like Stripe, Shopify, QuickBooks and Slack, and "Novo Reserves" for setting aside funds. It is a partner-bank-issued neobank, not a chartered bank.
History
2016 — Novo founded 2: Co-founded by Michael Rangel (CEO) and Tyler McIntyre to serve small businesses underserved by traditional banks.
2018 — Broad launch of Novo business checking 2: Novo rolled out its business checking account and integrations ecosystem.
2021-2022 — Growth funding 2: Novo raised growth capital (including a Series B led by Valar Ventures) and scaled its small-business customer base.
Ownership & operator
Operating entity: Novo Platform Inc. (US).
Co-founders: Michael Rangel (CEO) + Tyler McIntyre 2.
Major investors: Valar Ventures, Crosslink Capital, Rainfall Ventures and others 2.
Regulators: Deposits FDIC-insured via partner bank (Middlesex Federal Savings).
Technical integration
| Layer | Description |
|---|---|
| Channels | Novo web + mobile app + business debit card |
| Identifiers | Email + phone + account number + routing number + EIN |
| US rails | ACH + card network |
| Card network | Mastercard (Novo business debit) |
| Wallets | Apple Pay + Google Pay via EMV tokenization |
| Integrations | Stripe, Shopify, QuickBooks, Slack, Xero; Novo Invoices; Novo Reserves |
Implementations & partners
Operator: Novo Platform Inc.
Partner bank: Middlesex Federal Savings (FDIC-insured account issuance).
Competitors: Bluevine, Mercury, Brex, Ramp and other US SMB business-banking fintechs.
Status
- Novo Platform Inc. — US small-business / freelancer business-banking fintech (partner-bank issued).
- Fee-light business checking with broad integrations and invoicing.
- Precise current customer/financial metrics not consistently disclosed in verifiable public form (~).
Sources
Source
Biography extracted from novo.md. See matrix.md for standards-support matrix if present.