Novo, a provider of digital-only banking services for US small businesses, has hired Brad Paterson, Visa's former director of consumer and emerging products, and PayPal's former head of new ventures, as the company's EVP of business development.
Paterson brings to Novo more than two decades of experience. Previous roles include VP of marketing and VP of global operations and expansion at Intuit, head of new ventures at PayPal, and director of consumer and emerging products at Visa. Most recently, Paterson served as CEO of fintech Splitit.
“Brad is a proven business development leader who’s helped scale some of the world’s most well-known fintech startups and global financial brands,” says Micahel Rangel, CEO and co-founder of Novo. “As Novo enters its next phase of growth, he will be instrumental in leading our efforts to build strategic partnerships that both expand Novo’s user base and enhance the capabilities of the Novo platform.”
Paterson is joining Novo during a time of rapid expansion for the company. Recently named one of the 2022 Forbes Fintech 50, Novo has surpassed $8 billion in lifetime small business transactions. Over the last year, the firm has raised $130 million and added more than 100,000 new small business customers.
“After working in the fintech world for two decades, and speaking with many Novo customers and partners, it’s clear that Novo will soon be backing millions of small businesses across the US,” said Paterson. “Novo’s market-leading technology, coupled with the fierce dedication of the entire team to helping level the playing field for small businesses, has set them on a growth trajectory that will only continue in the coming years.”
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