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Novo profile

Who owns Novo?

traditional · Miami, US · Partner-bank model · custody: Custodial

short answerNovo is not itself a bank. It runs on a partner-bank (BaaS) model, where a licensed sponsor bank holds the deposits behind the app while Novo builds the product and interface. Novo's most notable disclosed backers include Valar Ventures, Stripes and Crosslink Capital.

Is Novo a licensed bank?

No — it runs on a sponsor bank (BaaS model). Licence detail: Partner bank (Middlesex Federal Savings, F.A.); Mastercard debit; credit card via Continental Bank.

Where is your money held?

Custody model: Custodial.

No sponsor bank or infrastructure provider is publicly documented for Novo yet. Know one? Suggest it.

Who's behind Novo?

Novo was founded by Michael Rangel, Tyler McIntyre (2016), headquartered in Miami, US.

Early investors

Notable venture and strategic investors from Novo's publicly disclosed funding rounds (~$170M raised).

Valar Ventures ↗ Stripes ↗ Crosslink Capital ↗

Is my money safe with Novo?

Deposits are held by Novo's sponsor bank, so any insurance flows through that bank rather than Novo. Check which sponsor holds your balance and whether it is passed through for per-customer coverage.

go deeperSee the full Novo profile with every verified field, or Novo alternatives. Raw fields: data.json.

Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.