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Venture Capital News: Novo Secures $90M Series B Financing Round

MIAMI, FL, Novo, the powerfully simple small business banking platform, has raised $90 million in Series B funding at a $700 million valuation.
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.
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