The funding is being led by Valar Ventures with Crosslink Capital, Rainfall Ventures, Red Sea Ventures and BoxGroup all participating.
Novo is approaching SMB banking from the point of view of running a small business, meaning that typically SMBs are already using a lot of other finance software to manage their books, payments, and other matters. Therefore, Novo has developed a ‘drag and drop’ dashboard where an SMB can integrate and view activity across all of those apps in one place.
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