At Money 20/20 USA, Novo unveiled a suite of financial tools tailored specifically for solopreneurs and small business owners. The new offerings include the Novo Business Credit Card (issued by Continental Bank), Novo Bookkeeping, and Novo Invoice Flex, expanding Novo’s platform to meet the unique needs of self-employed professionals in the U.S.
With solopreneurs representing 84% of all U.S. small businesses, their economic impact is growing. Novo’s latest solutions are designed to support this segment, providing essential financial management tools to streamline daily operations and improve cash flow. “Entrepreneurship is not meant to be a solitary journey,” said Michael Rangel, CEO of Novo, who emphasized Novo’s commitment to being a trusted financial partner for small business owners.
Key Features of Novo’s New Product Suite
- Novo Bookkeeping: AI-powered, automated bookkeeping with expense categorization, monthly financial summaries, and receipt management.
- Novo Invoice Flex: Offers instant cash flow by advancing invoice payments upon issuance, ensuring smoother operations for solopreneurs.
- Novo Business Credit Card: Provides financial flexibility, fraud protection, and perks like cashback rewards. Designed to support solopreneurs with credit access, this card includes integration with Novo’s platform for enhanced financial transparency.
Novo’s recent recognition in the Inc. 5000 list of America’s Fastest Growing Companies and its reach with over 250,000 small businesses reflect the platform’s commitment to small and self-employed business owners. The company has processed over $30 billion in transactions, solidifying its role in supporting U.S. entrepreneurship.