Stripes led the round, with continued participation from existing investors Valar Ventures, Crosslink Capital, Rainfall Ventures, and BoxGroup. This latest round brings Novo's total funding to more than $135 million.

Novo is customer-first banking for the modern entrepreneur, giving users the flexibility to bank on their own terms. Built by entrepreneurs for entrepreneurs, Novo allows you to easily create a robust business checking account digitally in minutes, with no minimum balance requirements, no hidden fees, no paperwork, plus free business checking and debit card access. With a focus on customer service and user experience, Novo offers integration with Slack, Stripe, Xero, Zapier, and TransferWise to give entrepreneurs real-time insights and notifications on the financial health of their small businesses. Novo is based out of New York City with a full-time development team in India.