# Novo

> Source: https://docs.barcoder.ai/docs/wallets/novo
> research date 2026-06-01 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Novo — official](https://www.novo.co/)

## 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** <sup>[1][1], [2][2]</sup>. 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** <sup>[2][2]</sup>: Co-founded by **Michael Rangel** (CEO) and **Tyler McIntyre** to serve small businesses underserved by traditional banks.

**2018 — Broad launch of Novo business checking** <sup>[2][2]</sup>: Novo rolled out its business checking account and integrations ecosystem.

**2021-2022 — Growth funding** <sup>[2][2]</sup>: 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** <sup>[2][2]</sup>.

**Major investors**: Valar Ventures, Crosslink Capital, Rainfall Ventures and others <sup>[2][2]</sup>.

**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](https://docs.barcoder.ai/docs/wallets/bluevine), [Mercury](https://docs.barcoder.ai/docs/wallets/mercury), [Brex](https://docs.barcoder.ai/docs/wallets/brex), [Ramp](https://docs.barcoder.ai/docs/wallets/ramp) and other US SMB business-banking fintechs.

## Status

**Active** <sup>[1][1], [2][2]</sup>:
- **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

[1]: https://www.novo.co/ "Novo — official"
[2]: https://en.wikipedia.org/wiki/Novo_(company) "Novo — Wikipedia"
[3]: https://techcrunch.com/tag/novo/ "Novo coverage — TechCrunch"

- [1] [Novo — official][1]
- [2] [Novo — Wikipedia][2]
- [3] [Novo coverage — TechCrunch][3]

## Source

Biography extracted from [novo.md](https://docs.barcoder.ai/source/wallets/novo). See `matrix.md` for standards-support matrix if present.