The funding will use to build out its infrastructure, to add in new products, specifically around lending, and to acquire more customers.
The round is being led by Stripes, with Valar Ventures, Crosslink Capital, Rainfall Ventures, and BoxGroup — all of whom backed Novo in its USD 40 million Series A, just six months ago — also participating.
Novo now has 150,000 SMB customers in the US has collectively now seen USD 5 billion in lifetime transactions.
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