NorthOne raises $67M to become the digital finance arm for small businesses
- Small business banking tools company NorthOne secured $67 million in funding this week.
- The Series B round brings the company’s total raised to over $90 million.
- NorthOne has big ambitions and seeks to be “the digital finance department that powers every small business in America.”
Small business banking tools company NorthOne landed $67 million in a Series B funding round this week. This investment brings the New York-based company’s total funds to more than $90 million.
New and existing investors including Battery Ventures, Don Griffith, Drew Brees, Ferst Capital Partners, FinTLV, Next Play Capital, Operator Stack, Redpoint Ventures, Tencent and Tom Williams participated in the round.
NorthOne was founded in 2016 to provide small businesses with an accessible digital banking experience. The company said the funds will allow it to elevate the level of products and services that business owners should expect from their banking partners.
“Through an obsessive focus on our customers’ needs, we’ve been able to predictably build an enterprise banking experience that unlocks incredibly strong product-market fit,” said Eytan Bensoussan, co-founder and CEO of NorthOne. “As our customers grow, their issues expand beyond the bank account. By connecting the data layer between Accounting, Receivables, Payables, Loans, Payroll (all financial transactions) and Bank Account Register, we can provide a transformative offering that still feels out of reach for our customers. clients: a world-class financial service built for their business. »
NorthOne, whose services are powered by The Bancorp Bank, has big ambitions. The fintech aims to be “the digital finance department that powers every small business in America.” To achieve this goal, the company is currently working on creating new capital and credit products, faster payment solutions and more integrations.
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