Novo

Novo (operating at novo.co) is a modern business banking platform engineered for small business owners. Founded in 2016 by Michael Rangel, Tyler McIntyre, and Rijk Plasman and headquartered in Miami, Novo reimagines traditional banking by eliminating monthly fees and hidden costs. Under the hood, the platform integrates free standard ACH transfers, invoicing tools, and expense tracking—all consolidated into a single, intuitive interface. This allows independent business owners to streamline cash flow management, accelerate payments, and focus on growth without the burden of conventional banking complexities. Backed by a $90 million Series B round in 2023, Novo has since scaled its operations and product suite, achieving a valuation of $700 million as it continues to disrupt the small business banking landscape.