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HomeFinTechNovo: Raises $35M from GGV Capital in Series B Funding

Novo: Raises $35M from GGV Capital in Series B Funding

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Novo Raises $35M from GGV Capital in Series B Funding

  • Novo, a Miami, FL-based provider of a fintech platform for small businesses, raised $35M in Series B funding from GGV Capital
  • This brings company’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
  • The company 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
  • The company has surpassed more than $12 billion in lifetime small business transactions, and has brought on more than 180,000 small business customers

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