IAMI, July 14, 2022 — Novo, the powerfully simple financial platform for small businesses, today announced that Brad Paterson has joined the company as EVP of Business Development.
“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,” said Michael 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 brings to Novo more than two decades of experience leading business development, operations, and marketing at global financial organizations. Previous roles included 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, where he led the business from its early stages to becoming one of the fastest growing payment companies in the world.
“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 U.S.,” 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.”
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, Novo has raised more than $130 million from leading fintech investors like Stripes Group and Valar Ventures, and added more than 100,000 new small business customers. Novo also launched Novo Boost, making it the only financial platform that gives small businesses and freelancers same day access to payments received through e-commerce platforms.
Novo Platform, Inc. (“Novo”) is the powerfully simple checking account and financial technology platform built for small businesses. To learn more, visit www.novo.co. Novo Boost and early availability of funds are governed by the program terms and conditions outlined here.
Novo is a fintech, and not a bank. Novo acts as a service provider to Middlesex Federal Savings, F.A., and the deposit and banking products obtained through the Novo platform are provided by Middlesex Federal Savings, F.A.
Middlesex Federal Savings, F.A. is a federal savings bank and an FDIC-insured depository institution (FDIC Certificate 28368). Deposits made at Middlesex Federal Savings, F.A. through the Novo platform receive FDIC insurance protection on a pass-through basis up to the applicable legal limit. When determining the amount of your deposits covered by FDIC insurance, please note all deposits you make through the Novo platform will be aggregated with all deposit accounts of the same ownership and/or vesting held at Middlesex Federal Savings, F.A. and Middlesex Federal Savings, F.A. brands. Additional information regarding FDIC insurance coverage is available at www.fdic.gov.