Novo, a finance platform for small businesses – SMEs – announced that GGV Capital has deployed $35 million in a Series B round as a strategic investor. The overall equity capital raised for Novo now exceeds $170 million, with the new Series B contributing $125 million. Novo has introduced a number of new features to assist small businesses in streamlining their cash flow and centralizing their finances. These new features include Novo App, a large app store that enables small businesses to personalize their banking experiences, and Novo Boost, which provides same-day access to payments made through Stripe, and Express ACH which processes same-day ACH.
Novo Announces $35M in Funding
