NorthOne, a New York-based API-enabled, mobile-first banking platform for freelancers, startups, and small businesses, raised $67 million in Series B funding, bringing NorthOne’s fundraising total to $90.3 million raised since launch.
The investment came from top investors, including Battery Ventures, Drew Brees, Don Griffith, Next Play Capital, FinTLV, Ferst Capital Partners, Tencent, Tom Williams, Redpoint Ventures, and Operator Stack.
NorthOne is poised to further expand the reach of its business banking and financial management platform across all sectors of the small business community.
This new funding will enable NorthOne to continue raising the standard of products and services these owners should expect from their banking partners.
NorthOne has big plans to be the digital finance department powering every small business in America. With this funding, NorthOne will build new working capital and credit products and faster and more convenient payment solutions for busy entrepreneurs. It will also continue to expand on the dozens of integrations already offered.
“Through an obsessive focus on our customers’ needs, we’ve been able to predictably build a business banking experience that unlocks an incredibly strong product-market fit,” said Eytan Bensoussan, co-founder and CEO of NorthOne. “As our customers grow, their problems evolve beyond the bank account. By connecting the data layer between accounting, receivables, payables, lending, payroll—all the financial operations—and the bank account ledger, we can provide a transformative offering that’s always felt out of reach for our customers: a world-class finance department built for their business.”
NorthOne is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank, N.A., Member FDIC.
Company: NorthOne Inc.
Raised: $67.0M
Round: Series B
Funding Month: October 2022
Lead Investors: Battery Ventures, Drew Brees, Don Griffith, Next Play Capital, FinTLV, Ferst Capital Partners, Tencent, Tom Williams, Redpoint Ventures, and Operator Stack
Additional Investors:
Company Website: https://www.northone.com/
Software Category: Digital Banking Platform
About the Company: Founded in 2016 by Eytan Bensoussan and Justin Adler, NorthOne is a mobile app and web banking product delivering powerful financial tools to over 320,000 small businesses across America. Founded in 2016 by Eytan Bensoussan and Justin Adler, NorthOne’s network of investors includes Battery Ventures, Don Griffith, Drew Brees, Ferst Capital Partners, FinTLV, Kaiser Permanente, Next Play Capital, Operator Stack, Redpoint Ventures, Ruby Ventures, Tencent and Tom Williams. The company’s headquarters are in New York City, with satellite offices in San Francisco, Portland, and Toronto.
Source: northone.com/blog/northone/northone-announces-series-b-round