Novo Overview
- Year Founded
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2016
- Status
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Private
- Employees
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411
- Latest Deal Type
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General Corporate Purpose
- Latest Deal Amount
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$125M
- Investors
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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.coCorporate Office
- 801 Brickell Avenue
- Miami, FL 33131
- United States
Corporate Office
- 801 Brickell Avenue
- Miami, FL 33131
- United States
Novo Timeline
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 |
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% |
VC Exit Predictor
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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
Industry
Financing
Details
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 |
Novo Related Research & Analysis
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Verticals
Novo Signals
Growth Rate
Growth
Size Multiple
Key Data Points
Similarweb Unique Visitors
Majestic Referring Domains
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 |
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 |
Novo Affiliates
Subsidiaries (1)
| Name | Industry | Location | Year Founded |
|---|---|---|---|
| Ruby Money | South San Francisco, CA | 2021 |
Novo FAQs
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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
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