Novo: Funding, Investors & Team (Oct 2026)
Novo is a digital banking platform for small business owners, entrepreneurs, and freelancers. It provides better business deposit accounts to today’s companies and is powered by a network of FDIC-insured community banks. The company was founded in 2018 and is headquartered in Miami, Florida.
Novo has raised $131M across 2 funding rounds on record, the most recent a Series B of $90.0M announced in Jan 2022.
That round is above the $15M median round size for Financial Services companies tracked on FundedIQ over the last two years.
Novo Company Profile and Key Stats
Latest funding round on record: Jan 2022.
Novo Funding Rounds
Novo raised $40.7M in an undisclosed round announced in Jun 2021.
7 months later, a Series B of $90.0M was announced in Jan 2022.
Novo Founders and Leadership Team
No contact details are on record for this team yet.
Novo Funding Compared to Other Financial Services Startups
Novo's latest round of $90.0M is above the median round in Financial Services. Medians cover the last 24 months of disclosed rounds.
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Novo Funding FAQs
What does Novo do?
Novo is a digital banking platform for small business owners, entrepreneurs, and freelancers. It provides better business deposit accounts to today’s companies and is powered by a network of FDIC-insured community banks. The company was founded in 2018 and is headquartered in Miami, Florida.
How much funding has Novo raised?
Novo has raised $131M across 2 rounds on record. The most recent is a Series B of $90.0M announced in Jan 2022.
When did Novo last raise funding?
Novo's most recent funding round on record is a Series B of $90.0M, announced in Jan 2022.
Who is the CEO of Novo?
Michael Rangel is listed as CEO at Novo.
Where is Novo headquartered?
Novo is based in Miami, Florida, United States.
How many employees does Novo have?
Novo is in the 101-250 employee band.
How does Novo's funding compare to other Financial Services startups?
Novo's latest round of $90.0M is above the $15M median round size for Financial Services companies on FundedIQ across 5,751 tracked companies over the last two years.
About FundedIQ's Novo Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for Novo is left off this page rather than filled in.
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