March 29, 2019

Crosslink Capital Betting Big on Startup Banking: Novo Raises $4.8M Seed Round

Crosslink leads round alongside Red Sea Ventures and RRE to accelerate the online business banking platform built for today’s companies

NEW YORK–(BUSINESS WIRE)–Novo announced today that it has raised $4.8 million in venture seed financing to make banking easier, more secure and accessible for small businesses by launching no-fee, FDIC-insured digital banking.

Since Novo’s launch in September of 2018, startup founders and small business owners have been able to apply for business checking accounts in under 10 minutes, securely and easily with no minimum balance requirements. In short, Novo offers business banking products without any paperwork or hidden fees. Getting a Novo account gives customers access to a free business checking account with debit card access, all managed through the mobile app. Read rest here.