USA – Novo, a Miami, FL-based provider of a fintech platform for small businesses, raised $35M in Series B funding from GGV Capital.
This brings Novo’s Series B to $125M and total equity funding to more than $170M. Robin Li, Principal, GGV Capital will join the board as an observer. The company intends to use the funds to scale its app partnerships and consolidate its market position.Led by CEO Michael Rangel, Novo provides a checking account and fintech platform built for small businesses. Since the fall of 2021, the company has launched a range of new capabilities for helping small businesses centralize their finances and speed up their cash flow, including:The company has surpassed more than $12 billion in lifetime small business transactions, and has brought on more than 180,000 small business customers.22/11/2022
