“I grew up in Miami, and have greatly enjoyed seeing the city’s startup and small business communities grow over the last decade,” said Michael Rangel, CEO and founder of Novo. “As Novo establishes itself in Miami, our team very much looks forward to supporting small businesses as we all work towards recovering from the COVID-19 pandemic.”

Since launching in 2018, tens of thousands of small business owners have signed up for Novo’s award-winning banking platform. Novo processed more than $600 million in customer transactions in 2020, and was named one of the Best Business Checking Accounts of 2021 by Money Magazine. Recently, the company announced a number of new features for its digital banking platform, including invoicing, budgeting, e-commerce, and self-service capabilities.

Added Rangel, “As Novo continues to grow, we will be adding positions in Miami, New York, and around the world. Our extremely talented team shares a deep commitment to helping small businesses succeed.”

Novo’s Miami office will be located at 78 SW 7th Street. The company currently has seven employees based in Miami, with plans to more than double its Miami presence over the course of 2021. Novo will also continue to expand its team at its New York headquarters, as well as at its global offices in India.