Founded in 2016 by Michael Rangel and Tyler McIntyre in New York, Novo aims to be the "financial watchtower for small business" by providing data through partnering platforms like Slack, Stripe, and Zapier. Backed by a network of FDIC-insured community banks, Novo offers a free and globally accepted banking platform with no minimum balances or hidden fees. The company has also partnered with Xero, an accounting provider for small businesses, and has a diverse user base ranging from high-profile startups to sole proprietors across all U.S. states. Novo participated in the Class 114 - Barclays NYC 2017 Q4 cohort of Techstars and is headquartered in Miami, Florida.