Fundraising Fox
Novo
Techstars '17New York City, US · Founded 2015 · Delaware corporation · 416 employees on LinkedIn · 6 known investors
Find your way into Novo
Sign up to see every warm intro you have to Novo
- Paths you didn't know you had: your email and LinkedIn already hold routes to the Novo team. We find them for you
- 2nd- and 3rd-degree connections: the friend-of-a-friend routes that take hours to manually find through your inbox or LinkedIn
- Answers now, not in days: momentum is everything in a raise. Skip asking around whether someone knows someone
Days of research, done the moment you sign in, with every route ranked by how warm it is.
Novo offers merchant cash advances to small business owners to manage cash flow gaps. The platform provides quick funding for operational expenses like equipment, vehicles, and inventory without hidden fees.
Also known as Novo Platform, Inc.
Founders & leadership
Novo was founded in 2015 by Tyler McIntyre and Michael Rangel.
Board
Investors · 6
How we know: Notable Capital's portfolio page · a partner's Signal profile · the VCSheet dataset · Not right? Tell us
How we know: RRE Ventures's portfolio page · Not right? Tell us
How we know: the Techstars portfolio · open dataset · Top 3000 Accelerator Startups (no YC) 2026-08 · Not right? Tell us
How we know: Valar Ventures Llc's portfolio page · board seat on SEC Form D · Not right? Tell us
How we know: funding news · Not right? Tell us
Funding
SEC filings, press & company announcements$138.6M disclosed across 4 of 5 rounds · 2016–2022
- Undisclosed amountSeries BJan 2022 · 2 sourcesSource ↗
▶$90.4MraisedOct 2022 · 12 investors · Other TechnologyRule 506(b)
- Saagar KulkarniDirector
- Andrew McCormackDirector
- Jim FeuilleDirector
- Michael RangelExecutive Officer, Director, Promoter
- Tyler McIntyreExecutive Officer, Director
- Offering amount
- $90.4M
- Amount sold
- $90.4M
- First sale
- Nov 2021
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$41.1MraisedOct 2022 · 33 investors · Other TechnologyRule 506(b)
- Tyler McIntyreExecutive Officer, Director
- Andrew McCormackDirector
- Michael RangelExecutive Officer, Director, Promoter
- Jim FeuilleDirector
- Offering amount
- $41.1M
- Amount sold
- $41.1M
- First sale
- Jun 2021
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$6.5MraisedMar 2019 · 35 investors · OtherRule 506(b)
- Jim FeuilleDirector
- Tyler McIntyreExecutive Officer, Director
- Michael RangelExecutive Officer, Director
- Offering amount
- $6.5M
- Amount sold
- $6.5M
- First sale
- Mar 2019
- Incorporated
- Corporation, Delaware, 2016
- Federal exemptions
- 06b
▶$600KraisedMay 2016 · 1 investors · Other TechnologyRule 506(b)
- Stephen SywakExecutive Officer, Director, Promoter
- Jordan HarveyExecutive Officer, Director, Promoter
- Justin MeltzerExecutive Officer, Director, Promoter
- Offering amount
- $850K
- Amount sold
- $600K
- First sale
- May 2016
- Incorporated
- Corporation, Delaware, 2015
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Sep 2026Novo operates a digital business banking platform aimed at small and independent businesses. It provides a free business checking account with no monthly fees, alongside tools for invoicing, accepting payments, paying vendors and contractors, scheduling recurring payments, expense tracking and categorization, budgeting and reserves for taxes and large expenses, and reporting on cash flow. Customers can link external bank accounts to view balances in one place and connect accounting, payments and payroll software so records stay synchronized.
Novo is a fintech rather than a bank; banking services are provided by Middlesex Federal Savings, F.A., a Member FDIC institution. Money movement options described by the company include free standard ACH, Express ACH, and domestic and international wires, as well as mailed checks. The company also markets anti-fraud measures covering ACH and check fraud. Novo states its platform uses AI models from Claude, OpenAI and Gemini to support onboarding and to automate tasks such as expense categorization, with oversight from Novo staff. Account access is delivered through a web application at app.novo.co and the company provides customer support by email.
Business model
Novo distributes deposit accounts and associated financial workflow software to small businesses, with the underlying banking services provided by a partner bank, Middlesex Federal Savings, F.A. The core business checking account is offered free of monthly fees, and additional money-movement services such as Express ACH and wires are provided alongside free standard ACH.
Traction
Novo states it is trusted by more than 250,000 independent businesses, with published customer testimonials from businesses that became customers between 2021 and 2025. A third-party company profile lists 315 total employees and multiple open roles across product, design, compliance, recruiting, procurement and customer support.
Latest developments
Novo markets AI-assisted onboarding and automated expense categorization built on models from Claude, OpenAI and Gemini, with oversight by its own team, and continues hiring across product, design, compliance and customer support functions in New York and remotely.
▸Full profile — market position, technology, go-to-market, geography
Market position
Novo positions itself against traditional banks by contrasting its integrated money movement, automatic expense categorization, built-in cash flow views, budget allocation and embedded reporting with what it characterizes as slower transfers, manual categorization and scattered reporting at incumbent institutions. The company reports serving more than 250,000 independent businesses.
Technology
A web-based banking and financial operations platform with integrations to accounting, payments and payroll tools, including QuickBooks. The company states it uses AI systems from Claude, OpenAI and Gemini to streamline account onboarding and automate work such as expense categorization, with human oversight from its team, and it operates controls against ACH and check fraud.
Go-to-market
Small and independent businesses, including sole practitioners, consultancies, studios, professional services firms and non-profits. Customer testimonials cited by the company span psychiatry practices, HR and business consulting, set design and fabrication, and child welfare non-profit work.
Geography
The company operates two offices in the United States, listed as Miami, Florida and New York, New York. Roles are posted as hybrid, in-office or remote across the US. International wires are supported for customers moving money abroad.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Related companies · 10
Companies working in the same space as Novo.
Legal entities · 1
corporate structure▸Research sources · 8
primary sources listed
- Novonovo.co · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Novo do?
- Novo is a fintech offering fee-free business checking accounts and money-management tools for small, independent businesses.
- Who founded Novo?
- Novo was founded by Tyler McIntyre, Michael Rangel in 2015.
- Who are Novo's investors?
- Novo's investors include 137 Ventures, Notable Capital, RRE Ventures, Techstars, Valar Ventures Llc, GGV Capital.
- How much funding has Novo raised?
- Novo has disclosed $138.6M raised across 4 of its 5 known rounds.
- Where is Novo headquartered?
- Novo is headquartered in New York City, US.