NOVO

About NOVO

Novo.co is a digital banking platform designed to cater to the needs of businesses. It offers a comprehensive suite of banking services, all accessible from a single platform. The company's primary market is small to medium-sized businesses looking for a more efficient and cost-effective way to manage their banking needs.

Novo's business model is centered around providing online banking services that are free from hidden fees. This includes access to a debit card, the ability to make payments and receive funds, and the use of Novo Reserves, a feature that allows businesses to automatically allocate funds into different reserves for easier budgeting and balancing.

One of the key ways Novo generates revenue is through its Novo Boost feature. This feature enables businesses to receive their Stripe payments 95% faster, which can significantly improve their cash flow. The faster businesses can access their revenue, the quicker they can reinvest in growth.

Novo also offers integration with popular digital tools such as QuickBooks, Gusto, and Hubspot, providing additional value to its customers. Furthermore, it ensures the safety of its customers' deposits, which are insured for up to $250,000 through its partner bank, Middlesex Federal Savings.

In summary, Novo.co is a digital banking platform for businesses that offers a wide range of services, from payments and fund allocation to faster access to revenue and integration with popular digital tools. Its business model is focused on providing these services free of hidden fees, generating revenue through features like Novo Boost.