# Novo Platform Inc.: AI strategy

Source: https://www.bankingnewsai.com/fintech/novo
Last updated: Oct 16, 2026

*A free checking account for solopreneurs used as the entry point for credit and bookkeeping, with AI applied quietly to back-office chores (expense categorisation, per Forbes on models from Anthropic, OpenAI and Google) rather than marketed as a standalone assistant.*

## How is Novo Business Banking using AI?

Novo's AI is Novo Bookkeeping, launched October 2024, which automatically assigns tax-friendly categories to small-business transactions; Forbes reported in August 2026 that Novo's site says this categorisation runs on models from Anthropic, OpenAI and Google. Novo is a Miami fintech, not a bank: deposits sit at Middlesex Federal Savings, F.A. and credit products at Continental Bank. It serves more than 250,000 small businesses, was valued at $700 million in 2022, and is now led by CEO Jackson Barnes after co-founder Michael Rangel stepped back.

## At a glance

| Field | Value |
| --- | --- |
| Category | Neobank |
| Ticker | Private |
| Founded | 2016 |
| Headquarters | Miami, United States |
| Licence and supervision | Not a bank: Novo Platform Inc. is a fintech and service provider to Middlesex Federal Savings, F.A. (Somerville, Massachusetts; OCC-supervised federal savings association, FDIC Certificate 28368), which holds deposits and now issues the Novo debit card; the Novo Business Credit Card and Novo Business Loan are issued by Continental Bank, and merchant cash advances are offered by the wholly owned subsidiary Novo Funding LLC. |
| Scale | More than 250,000 small businesses (August 2026) and more than $30 billion in transactions processed (October 2024) |

## Flagship platform: Novo Bookkeeping (AI-powered expense categorisation)

Launched at Money 20/20 USA on October 29, 2024, Novo Bookkeeping is a free feature of the Novo account that automatically assigns a tax-friendly category to each transaction, pulls in and categorises transactions from linked external accounts, lets users add custom rules, and feeds always-current Financial Insights reports (profit and loss, top expenses). Novo's help centre says AI categorises the most recent 30 days of Novo transactions automatically and older activity is categorised by hand or by rules. Forbes reported in August 2026 that Novo's site says the categorisation runs on models from Anthropic, OpenAI and Google. ([Novo](https://www.novo.co/learn/novo-suite-of-credit-financing-and-bookkeeping-solutions), [Novo](https://www.novo.co/help/what-is-novo-bookkeeping), [Novo](https://www.novo.co/help/how-do-i-categorize-my-transactions), [Forbes](https://www.forbes.com/sites/boazsobrado/2026/08/07/banks-make-it-hard-wall-streets-36-million-small-business-problem/))

## Key points

- Novo Bookkeeping, launched October 29, 2024 alongside the Novo Business Credit Card (issued by Continental Bank) and Novo Invoice Flex, is described by Novo as an AI-powered tool that automates expense categorisation, provides monthly financial overviews and simplifies receipt management; at launch Novo reported more than 250,000 small businesses and more than $30 billion in transactions processed.
- Forbes reported on August 7, 2026 that Novo's site says its expense categorisation now runs on models from Anthropic, OpenAI and Google; Novo's help centre limits automatic AI categorisation to the most recent 30 days of transactions, with older activity left to manual categorisation or user rules.
- Novo is not a bank: it acts as a service provider to Middlesex Federal Savings, F.A., a federal savings bank supervised by the OCC that holds deposits (FDIC-insured on a pass-through basis) and issues the debit card; co-founder Michael Rangel told Forbes Novo is 'a technology company that partners with a bank in order to leverage their bank's charter'.
- Novo's credit is decided on cash-flow data rather than marketed as AI: Novo Funding merchant cash advances (launched August 1, 2023 with a $125 million facility from Victory Park Capital, up to $75,000, reviewed within 24 hours) followed a pilot that originated more than $20 million to over 3,000 customers, and Novo Business Loans issued by Continental Bank set amounts from 'internal cash flow and external credit behaviors'.
- Novo raised a $40.7 million Series A led by Valar Ventures in 2021 and a $90 million Series B led by Stripes in January 2022 at a $700 million valuation, bringing total funding above $135 million; Rangel told Forbes in 2026 the company raised 'over $170 million', while Forbes counts roughly $135 million of disclosed equity plus an undisclosed 2023 Series C and the $125 million lending facility.
- Leadership has changed: Rangel, who co-founded Novo in 2016 and ran it as chief executive, has stepped back, and an August 6, 2026 release quotes Jackson Barnes as CEO of Novo.
- Novo's customer count rose from more than 100,000 (June 2021) to 150,000 (January 2022), 200,000 (June 2023) and more than 250,000 (October 2024 and August 2026).

## Timeline

- Aug 7, 2026 — **Forbes: categorisation runs on Anthropic, OpenAI and Google models** In a Forbes interview Rangel called AI 'this complete leveling mechanism' for one-person firms; Forbes reported Novo's site says its expense categorisation runs on models from Anthropic, OpenAI and Google. ([Forbes](https://www.forbes.com/sites/boazsobrado/2026/08/07/banks-make-it-hard-wall-streets-36-million-small-business-problem/))
- Aug 6, 2026 — **Jackson Barnes speaks as CEO** A release naming 5W as Novo's agency of record quotes Jackson Barnes as CEO and Michael Rangel as co-founder, with Novo supporting more than 250,000 small businesses. ([5W Public Relations via PR Newswire](https://www.prnewswire.com/news-releases/5w-named-agency-of-record-for-novo-to-elevate-the-voice-of-independent-business-owners-302844475.html))
- Jul 1, 2026 — **Invite-only fixed-rate installment loan** Forbes reported that Novo added an invite-only fixed-rate installment loan in July 2026; Novo's help centre describes Novo Business Loans from $2,000 with a maximum 12-month term, issued by Continental Bank. ([Forbes](https://www.forbes.com/sites/boazsobrado/2026/08/07/banks-make-it-hard-wall-streets-36-million-small-business-problem/), [Novo](https://www.novo.co/help/what-is-a-novo-business-loan))
- Oct 29, 2024 — **Novo Bookkeeping, credit card and Invoice Flex** At Money 20/20 USA Novo launched AI-powered Novo Bookkeeping, the Novo Business Credit Card issued by Continental Bank and Invoice Flex invoice advances, citing more than 250,000 businesses and $30 billion in transactions. ([Novo](https://www.novo.co/learn/novo-suite-of-credit-financing-and-bookkeeping-solutions), [Finextra](https://www.finextra.com/pressarticle/102953/novo-launches-suite-of-products-for-solopreneur))
- Aug 1, 2023 — **Novo Funding launches with a $125 million facility** Merchant cash advances of up to $75,000 through Novo Funding LLC, reviewed within 24 hours, funded by a Victory Park Capital facility; the pilot had reached more than $35 million. ([Novo](https://www.novo.co/learn/novo-launches-novo-funding))
- Jun 22, 2023 — **New debit card with continuous fraud monitoring** Security monitoring 'continuously analyzes' card purchases and alerts owners by text, email and push; Novo cited more than 200,000 small business customers. Cards were then issued by Patriot Bank, N.A. ([Novo](https://www.novo.co/learn/novo-introduces-new-small-business-debit-card))
- Mar 29, 2023 — **Working-capital pilot passes $20 million** Novo said its pilot had originated more than $20 million in merchant cash advances to more than 3,000 customers, with Rangel describing a product that can 'quickly analyze their revenue streams'. ([Novo](https://www.novo.co/learn/novo-working-capital-pilot-program))
- May 18, 2022 — **Novo Boost speeds Stripe payouts** A free feature letting customers receive Stripe payouts up to 95% faster than with a standard checking account, replacing a payout process that took two or more business days. ([Novo](https://www.novo.co/learn/introducing-novo-boost))
- Jan 11, 2022 — **$90 million Series B at a $700 million valuation** Stripes led the round, taking total funding above $135 million; Novo cited more than 150,000 customers and $4 billion of transactions in 2021, and McIntyre said Novo wanted to implement 'technologies that can automate' short-term capital. ([Novo](https://www.novo.co/learn/novo-raises-90m-to-reimagine-small-businesses-checking-accounts), [American Banker](https://www.americanbanker.com/news/novo-and-brex-challenger-banks-for-businesses-raise-millions))
- Jun 16, 2021 — **$40.7 million Series A led by Valar Ventures** More than 100,000 small businesses had opened an account and lifetime transactions passed $1 billion; CTO Tyler McIntyre named faster payments and lending as priorities. ([Finextra](https://www.finextra.com/newsarticle/38273/sme-banking-platform-novo-raises-407m))
- Sep 10, 2018 — **Novo launches business checking in the US** FinTech Futures reported a free checking account and debit card 'that use artificial intelligence (AI) technology', with recommendations based on a user's linked financial picture; deposit services and the card were provided by Middlesex Federal Savings. ([FinTech Futures](https://www.fintechfutures.com/business-banking/novo-business-banking-launches-in-us))

## Where AI runs

| Use case | What | Status | Detail | Sources |
| --- | --- | --- | --- | --- |
| [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai) | Novo Bookkeeping auto-categorisation | In production | AI assigns a tax-friendly category to each transaction, including those pulled from linked external accounts, and keeps Financial Insights profit-and-loss and top-expense reports current. | [Novo](https://www.novo.co/help/what-is-novo-bookkeeping), [Novo](https://www.novo.co/learn/novo-suite-of-credit-financing-and-bookkeeping-solutions), [Novo](https://www.novo.co/business-banking/bookkeeping) |
| [Third-party & vendor AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#third-party-vendors) | Foundation models from Anthropic, OpenAI and Google | In production | Forbes reported that Novo's site says its expense categorisation runs on models from these three providers; Novo has not published which models, contracts or data terms apply. | [Forbes](https://www.forbes.com/sites/boazsobrado/2026/08/07/banks-make-it-hard-wall-streets-36-million-small-business-problem/) |
| [Model risk management](https://www.bankingnewsai.com/ai-regulation/by-use-case#model-risk) | Bounded automation with human override | In production | Only the most recent 30 days of Novo transactions are auto-categorised; users can recategorise any transaction, create rules that override the default, and must categorise older history manually or by rule. | [Novo](https://www.novo.co/help/how-do-i-categorize-my-transactions), [Novo](https://www.novo.co/help/what-is-novo-bookkeeping) |
| [Credit scoring & underwriting](https://www.bankingnewsai.com/ai-regulation/by-use-case#credit-underwriting) | Novo Funding cash-flow decisioning | In production | Merchant cash advances priced on revenue, industry and credit and decided within 24 hours, for businesses with six months of Novo transaction history; Novo describes the product as analysing revenue streams but does not call it AI. | [Novo](https://www.novo.co/learn/novo-launches-novo-funding), [Novo](https://www.novo.co/help/what-is-novo-funding), [Novo](https://www.novo.co/learn/novo-working-capital-pilot-program) |
| [Credit scoring & underwriting](https://www.bankingnewsai.com/ai-regulation/by-use-case#credit-underwriting) | Novo Business Loan pre-approval | In production | Pre-approved amounts, terms and APR are based on creditworthiness 'evaluated through internal cash flow and external credit behaviors'; loans are issued by Continental Bank and subject to its underwriting. | [Novo](https://www.novo.co/help/how-is-my-preapproved-loan-amount-determined), [Novo](https://www.novo.co/help/what-is-a-novo-business-loan), [Novo](https://www.novo.co/help/whats-the-difference-between-novo-business-loans-and-novo-funding) |
| [Fraud detection](https://www.bankingnewsai.com/ai-regulation/by-use-case#fraud) | Debit card security monitoring | In production | Novo's security monitoring continuously analyses debit card purchases and sends real-time alerts on suspected fraud; Novo does not describe the method as AI. | [Novo](https://www.novo.co/learn/novo-introduces-new-small-business-debit-card) |

## Disclosed numbers

| Measure | Value | As of | Sources |
| --- | --- | --- | --- |
| Small business customers | more than 250,000 | Aug 6, 2026 | [5W Public Relations via PR Newswire](https://www.prnewswire.com/news-releases/5w-named-agency-of-record-for-novo-to-elevate-the-voice-of-independent-business-owners-302844475.html), [Novo](https://www.novo.co/) |
| Transactions processed | more than $30 billion | Oct 29, 2024 | [Novo](https://www.novo.co/learn/novo-suite-of-credit-financing-and-bookkeeping-solutions) |
| Valuation | $700 million (Series B, January 2022); total funding then more than $135 million | Jan 11, 2022 | [Novo](https://www.novo.co/learn/novo-raises-90m-to-reimagine-small-businesses-checking-accounts) |
| Funding raised (founder's figure) | 'over $170 million' per Rangel; about $135 million of disclosed equity per Forbes, plus an undisclosed 2023 Series C | Aug 7, 2026 | [Forbes](https://www.forbes.com/sites/boazsobrado/2026/08/07/banks-make-it-hard-wall-streets-36-million-small-business-problem/) |
| Novo Funding facility | $125 million from Victory Park Capital; advances up to $75,000 | Aug 1, 2023 | [Novo](https://www.novo.co/learn/novo-launches-novo-funding) |
| Working-capital pilot originations | more than $20 million to more than 3,000 customers (March 2023); more than $35 million by August 2023 | Aug 1, 2023 | [Novo](https://www.novo.co/learn/novo-working-capital-pilot-program), [Novo](https://www.novo.co/learn/novo-launches-novo-funding) |
| FDIC insurance on Novo deposits | up to $250,000, held at Middlesex Federal Savings, F.A. | Oct 16, 2026 | [Novo](https://www.novo.co/help/who-is-novos-sponsor-bank) |
| Sponsor bank size (Middlesex Federal Savings) | total assets about $642.4 million, deposits $593.6 million | Dec 31, 2023 | [Office of the Comptroller of the Currency](https://www.occ.gov/static/cra/craeval/Mar25/701452.pdf) |

## Quotes

> "AI is like this complete leveling mechanism, which now is going to empower small businesses to move even faster than ever before, because you're giving them the tools and the power, right, of like a 50-person team. You're giving that to a single person." — Michael Rangel, Co-founder, Novo (to Forbes), Aug 7, 2026 ([Forbes](https://www.forbes.com/sites/boazsobrado/2026/08/07/banks-make-it-hard-wall-streets-36-million-small-business-problem/))

> "We're a technology company that partners with a bank in order to leverage their bank's charter in order to extend the banking products." — Michael Rangel, Co-founder, Novo (to Forbes), Aug 7, 2026 ([Forbes](https://www.forbes.com/sites/boazsobrado/2026/08/07/banks-make-it-hard-wall-streets-36-million-small-business-problem/))

> "Our mission is to be the trusted financial partner that small business owners can rely on to simplify bookkeeping, optimize cash flow, and unlock access to credit." — Michael Rangel, CEO and founder, Novo, Oct 29, 2024 ([Novo](https://www.novo.co/learn/novo-suite-of-credit-financing-and-bookkeeping-solutions))

> "Independent business owners deserve a stronger voice in the conversations shaping the future of business." — Jackson Barnes, CEO, Novo, Aug 6, 2026 ([5W Public Relations via PR Newswire](https://www.prnewswire.com/news-releases/5w-named-agency-of-record-for-novo-to-elevate-the-voice-of-independent-business-owners-302844475.html))

## Who runs AI

- **Jackson Barnes** — Chief Executive Officer (quoted as CEO, August 2026) ([5W Public Relations via PR Newswire](https://www.prnewswire.com/news-releases/5w-named-agency-of-record-for-novo-to-elevate-the-voice-of-independent-business-owners-302844475.html))
- **Michael Rangel** — Co-founder (founded Novo in 2016; former CEO, has stepped back from the chief executive role) ([Forbes](https://www.forbes.com/sites/boazsobrado/2026/08/07/banks-make-it-hard-wall-streets-36-million-small-business-problem/), [5W Public Relations via PR Newswire](https://www.prnewswire.com/news-releases/5w-named-agency-of-record-for-novo-to-elevate-the-voice-of-independent-business-owners-302844475.html), [Novo](https://www.novo.co/learn/novo-suite-of-credit-financing-and-bookkeeping-solutions))
- **Tyler McIntyre** — Co-founder; Chief Technology Officer as of January 2022 ([Novo](https://www.novo.co/learn/novo-raises-90m-to-reimagine-small-businesses-checking-accounts), [FinTech Futures](https://www.fintechfutures.com/business-banking/novo-business-banking-launches-in-us))
- **Kevin Phillips** — EVP of Credit (quoted at the Novo Funding launch, August 2023) ([Novo](https://www.novo.co/learn/novo-launches-novo-funding))

## Regulators it answers to

- [OCC](https://www.bankingnewsai.com/ai-regulation/occ) — Middlesex Federal Savings, F.A. (OCC charter 701452), which holds Novo deposits and issues its debit card, is supervised by the OCC; Novo acts as the bank's service provider, so Novo's AI categorisation, onboarding and fraud monitoring fall under the bank's third-party risk management. See [OCC Bulletin 2023-17](https://www.bankingnewsai.com/ai-regulation/documents/occ-bulletin-2023-17).
- [FDIC](https://www.bankingnewsai.com/ai-regulation/fdic) — Deposits made through Novo are FDIC-insured on a pass-through basis at Middlesex Federal Savings (FDIC Certificate 28368), and Novo's credit card and business loans are issued by a second bank, Continental Bank, under the interagency guidance on bank-fintech third-party relationships. See [FDIC FIL-29-2023](https://www.bankingnewsai.com/ai-regulation/documents/fdic-fil-29-2023).
- [CFPB](https://www.bankingnewsai.com/ai-regulation/cfpb) — Novo Business Loans are underwritten on internal cash-flow data and external credit behaviour; the Equal Credit Opportunity Act and Regulation B, including adverse-action notice rules, apply to business as well as consumer credit decisions. See [ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9)](https://www.bankingnewsai.com/ai-regulation/documents/cfpb-ecoa-regulation-b-adverse-action).

## What the record suggests

### AI sits in the back office, not the brand

Novo's only AI product claim is categorisation inside Novo Bookkeeping; it has no named assistant or agent, and the detail that the models come from Anthropic, OpenAI and Google surfaced in a Forbes interview rather than a launch announcement.

### A multi-vendor model choice

Using three model providers for one task suggests Novo treats foundation models as interchangeable components; Novo has not said how it routes between them or what customer data they receive.

### Credit decisions are data-driven but not labelled AI

Novo Funding and Novo Business Loans are decided on cash-flow and credit data within hours, yet Novo does not describe them as AI or machine-learning models, unlike lenders that market AI underwriting.

### Two banks behind one interface

Deposits and debit cards run through Middlesex Federal Savings and credit through Continental Bank, so Novo's automated features answer to two banks' third-party risk programmes rather than to a charter of its own.

### Growth has flattened in public figures

Novo cited more than 250,000 businesses in October 2024 and again in August 2026, after roughly 50,000 a year between 2021 and 2023; its last disclosed valuation dates from January 2022.

## FAQ

### Does Novo use AI?

Yes, mainly for bookkeeping. Novo Bookkeeping, launched October 29, 2024, uses AI to assign a tax-friendly category to each transaction, including those from linked external accounts, and keeps profit-and-loss and top-expense reports current. AI categorises the most recent 30 days automatically; users can override any category or set rules. Forbes reported in August 2026 that Novo's site says the categorisation runs on models from Anthropic, OpenAI and Google. Novo serves more than 250,000 small businesses.

### Which AI models does Novo use?

According to Forbes (August 7, 2026), Novo's site says its expense categorisation runs on models from Anthropic, OpenAI and Google. Novo has not published which specific models it uses, how it routes between providers or what data the models receive. The feature is part of Novo Bookkeeping, launched in October 2024 for Novo's then more than 250,000 small business customers.

### Is Novo a bank?

No. Novo Platform Inc. is a fintech and a service provider to Middlesex Federal Savings, F.A., a federal savings bank in Somerville, Massachusetts, which holds customer deposits (FDIC-insured on a pass-through basis up to the legal limit) and issues the Novo debit card. The Novo Business Credit Card and Novo Business Loan are issued by Continental Bank, and merchant cash advances come from Novo's subsidiary Novo Funding LLC.

### Who regulates Novo?

Novo has no bank charter, so oversight runs largely through its partner banks. Middlesex Federal Savings, which holds Novo deposits, is supervised by the Office of the Comptroller of the Currency and insured by the FDIC; Novo's AI categorisation and other services sit inside that bank's third-party risk management. Business loans issued by Continental Bank are subject to the Equal Credit Opportunity Act and Regulation B.

### What is Novo Funding?

Novo Funding is Novo's merchant cash advance product, launched August 1, 2023 with a $125 million facility from Victory Park Capital. It offered up to $75,000 with a review within 24 hours to businesses with at least six months of Novo account history; pricing is a flat monthly rate based on revenue, industry and credit. A pilot had originated more than $20 million to over 3,000 customers by March 2023.

### Who runs Novo?

Jackson Barnes is quoted as CEO of Novo in an August 6, 2026 release. Co-founder Michael Rangel, who founded Novo in 2016 and ran it as chief executive, has stepped back from that role and is described as co-founder; co-founder Tyler McIntyre was CTO as of 2022. No chief AI officer appears in Novo's public announcements.

### How big is Novo?

Novo says it serves more than 250,000 small businesses (August 2026) and had processed more than $30 billion in transactions by October 2024. Its last disclosed valuation was $700 million at a $90 million Series B led by Stripes in January 2022. Rangel told Forbes in 2026 the company has raised over $170 million; Forbes counts about $135 million of disclosed equity plus an undisclosed 2023 Series C.

## Sources (22)

1. 'Banks Make It Hard'—Wall Street's 36 Million Small Business Problem — Forbes, Aug 7, 2026. https://www.forbes.com/sites/boazsobrado/2026/08/07/banks-make-it-hard-wall-streets-36-million-small-business-problem/
2. 5W Named Agency of Record for Novo to Elevate the Voice of Independent Business Owners — 5W Public Relations via PR Newswire, Aug 6, 2026. https://www.prnewswire.com/news-releases/5w-named-agency-of-record-for-novo-to-elevate-the-voice-of-independent-business-owners-302844475.html
3. Novo Unveils Comprehensive Suite of Credit, Financing, and Bookkeeping Solutions for Solopreneurs and Small Business Owners — Novo, Oct 29, 2024. https://www.novo.co/learn/novo-suite-of-credit-financing-and-bookkeeping-solutions
4. Novo launches suite of products for solopreneur — Finextra, Oct 29, 2024. https://www.finextra.com/pressarticle/102953/novo-launches-suite-of-products-for-solopreneur
5. What is Novo Bookkeeping? — Novo, Oct 16, 2026. https://www.novo.co/help/what-is-novo-bookkeeping
6. How do I categorize my transactions? — Novo, Oct 16, 2026. https://www.novo.co/help/how-do-i-categorize-my-transactions
7. Track & Manage Business Expenses Automatically — Novo, Oct 16, 2026. https://www.novo.co/business-banking/bookkeeping
8. Novo: Free Business Bank Account for Small Businesses — Novo, Oct 16, 2026. https://www.novo.co/
9. Novo Funding with $125M Facility from Victory Park Capital — Novo, Aug 1, 2023. https://www.novo.co/learn/novo-launches-novo-funding
10. Novo Announces Results of Working Capital Pilot Program for Small Businesses — Novo, Mar 29, 2023. https://www.novo.co/learn/novo-working-capital-pilot-program
11. What is Novo Funding? — Novo, Oct 16, 2026. https://www.novo.co/help/what-is-novo-funding
12. What is a Novo Business Loan? — Novo, Oct 16, 2026. https://www.novo.co/help/what-is-a-novo-business-loan
13. How is my preapproved loan amount determined? — Novo, Sep 13, 2026. https://www.novo.co/help/how-is-my-preapproved-loan-amount-determined
14. What is the difference between Novo Business Loans and Novo Funding (Merchant Cash Advance)? — Novo, Oct 16, 2026. https://www.novo.co/help/whats-the-difference-between-novo-business-loans-and-novo-funding
15. Who is Novo's sponsor bank? — Novo, Oct 16, 2026. https://www.novo.co/help/who-is-novos-sponsor-bank
16. Novo Introduces New Small Business Debit Card — Novo, Jun 22, 2023. https://www.novo.co/learn/novo-introduces-new-small-business-debit-card
17. Novo Boost to Help Small Businesses Move Money Faster — Novo, May 18, 2022. https://www.novo.co/learn/introducing-novo-boost
18. Novo Raises $90M for Small Businesses Checking Accounts — Novo, Jan 11, 2022. https://www.novo.co/learn/novo-raises-90m-to-reimagine-small-businesses-checking-accounts
19. Novo and Brex, challenger banks for businesses, raise millions — American Banker, Jan 11, 2022. https://www.americanbanker.com/news/novo-and-brex-challenger-banks-for-businesses-raise-millions
20. SME banking platform Novo raises $40.7m — Finextra, Jun 16, 2021. https://www.finextra.com/newsarticle/38273/sme-banking-platform-novo-raises-407m
21. Novo business banking launches in US — FinTech Futures, Sep 10, 2018. https://www.fintechfutures.com/business-banking/novo-business-banking-launches-in-us
22. Community Reinvestment Act Performance Evaluation: Middlesex Federal Savings, F.A. (Charter 701452) — Office of the Comptroller of the Currency, Sep 9, 2024. https://www.occ.gov/static/cra/craeval/Mar25/701452.pdf

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