Novo Overview

  • Year Founded
  • 2016

Year Founded

  • Status
  • Private

  • Employees
  • 411

Employees

  • Latest Deal Type
  • General Corporate Purpose

  • Latest Deal Amount
  • $125M

  • Investors
  • 20

Novo General Information

Description

Developer of a banking platform designed to provide business deposit accounts to small businesses. The company's platform uses artificial intelligence technology with traditional depository accounts to offer a personalized banking experience powered by a network of FDIC-insured community banks, enabling small business owners, freelancers, and entrepreneurs to manage their business finances and checking accounts all in one place.

Contact Information

Website
www.novo.co
Ownership Status
Privately Held (backing)
Financing Status
Venture Capital-Backed
Corporate Office
  • 801 Brickell Avenue
  • Miami, FL 33131
  • United States
+1 (844)
Primary Industry
Other Commercial Banks
Other Industries
Financial Software
Corporate Office
  • 801 Brickell Avenue
  • Miami, FL 33131
  • United States
+1 (844)

Novo Timeline

2022202320242025
Financing RoundCaptured Employee CountEstimated Employee Growth

Want detailed data on 3M+ companies?

What you see here scratches the surface

Request a free trial

Want to dig into this profile?

We’ll help you find what you need

Learn more

Novo Valuation & Funding

Deal Type Date Amount Raised to Date Post-Val Status Stage
7. General Corporate Purpose 01-Aug-2023 $125M Completed Generating Revenue
6. Later Stage VC (Series B) 22-Nov-2022 Completed Generating Revenue
5. Later Stage VC (Series A) 16-Jun-2021 Completed Generating Revenue
4. Debt - PPP 14-Apr-2020 Completed Generating Revenue
3. Seed Round 01-Apr-2019 Completed Generating Revenue
2. Accelerator/Incubator 23-Oct-2017 $120K $120K Completed Generating Revenue
1. Accelerator/Incubator 10-Aug-2017 Completed Generating Revenue
To view Novo’s complete valuation and funding history, request access »

Novo Cap Table

Stock # of Shares
Authorized
Par Value Dividend Rate (%) Original
Issue Price
Liquidation Liquidation
Pref. Multiple
Conversion Price % Owned
Series B-3
Series B-2
Series B-1
Series A-3
Series A-2
Series A-1
Seed-4
Seed-3
Seed-2 1,202,967 $0.000100 $1.25 $1.25 1x $1.25 4.13%
Seed-1 3,072,640 $0.000100 $1.56 $1.56 1x $1.56 10.56%
To view Novo’s complete cap table history, request access »

VC Exit Predictor

See how our proprietary methodology utilizes historical data sets to synthesize the likelihood of an acquisition, IPO, or no exit event. Get a detailed look at the calculations behind our predictions.

Opportunity Score

Calculated using Exit Type probabilities, the company’s stage, and PitchBook’s historical returns data.

Exit Type

Evaluates the likelihood of a successful exit for investors, and the most likely exit type.

Novo Comparisons

Description
Primary
Industry
HQ Location
Employees
Total Raised
Post Valuation
Last
Financing
Details
Developer of a banking platform designed to provide business deposit accounts to small businesses. The company's platfor
Other Commercial Banks
Miami, FL
411 As of 2025

San Francisco, CA
 

San Francisco, CA
 
Add Comparison

PitchBook’s comparison feature gives you a side-by-side look at key metrics for similar companies. Personalize which data points you want to see and create visualizations instantly.

Request a free trial

Novo Competitors (41)

One of Novo’s 41 competitors is Mercury, a Venture Capital-Backed company based in San Francisco, CA.

Company Name Financing Status Location Employees Total Raised Last Financing Date/Type Last Financing Amount
Mercury Venture Capital-Backed San Francisco, CA
Varo Venture Capital-Backed San Francisco, CA
N26 Venture Capital-Backed Berlin, Germany
Kontist Private Equity-Backed Berlin, Germany
OPENCBS Accelerator/Incubator Backed Hong Kong, Hong Kong
You’re viewing 5 of 41 competitors. Get the full list »

Novo Signals

Growth Rate

Weekly
Growth
Weekly Growth

Size Multiple

Median
Size Multiple

Key Data Points

Similarweb Unique Visitors

Majestic Referring Domains

PitchBook’s non-financial metrics help you gauge a company’s traction and growth using web presence and social reach.

Request a free trial

Novo Investors (20)

Investor Name Investor Type Holding Investor Since Participating Rounds
Notable Capital Venture Capital Minority
SPAR Ventures Venture Capital Minority
Stripes Growth/Expansion Minority
Bossa Invest Venture Capital Minority
BoxGroup Venture Capital Minority
You’re viewing 5 of 20 investors. Get the full list »

Novo Acquisitions (1)

Novo’s most recent deal was a Merger/Acquisition with Ruby Money. The deal was made on 18-Jun-2024.

Company Name Deal Date Deal Type Deal Size Industry Lead Partner
Ruby Money 18-Jun-2024 Merger/Acquisition Other Financial Services
To view Novo’s complete acquisitions history, request access »

Novo Affiliates

Subsidiaries (1)

Name Industry Location Year Founded
Ruby Money South San Francisco, CA 2021

Novo FAQs

  • When was Novo founded?

    Novo was founded in 2016.

  • Where is Novo headquartered?

    Novo is headquartered in Miami, FL.

  • What is the size of Novo?

    Novo has 411 total employees.

  • What industry is Novo in?

    Novo’s primary industry is Other Commercial Banks.

  • Is Novo a private or public company?

    Novo is a Private company.

  • What is Novo’s current revenue?

    The current revenue for Novo is .

  • How much funding has Novo raised over time?

    Novo has raised $172M.

  • Who are Novo’s investors?

    Notable Capital, SPAR Ventures, Stripes, Bossa Invest, and BoxGroup are 5 of 20 investors who have invested in Novo.

  • Who are Novo’s competitors?

    Mercury, Varo, N26, Kontist, and OPENCBS are some of the 41 competitors of Novo.

Data Transparency

  • Meet our data hygiene team

    Discover how our experts ensure you’re getting the most accurate financial data in the industry.

    Read blog »
  • How PitchBook sources data

    Our data operations team has logged over 3.5 million hours researching, organizing, and integrating the information you need most.

    Discover our process »