Novo and LegalZoom Announce Partnership to Provide Formation Services to Small Businesses

IAMI, November 30, 2022 — Novo, the powerfully simple financial platform for small businesses, and LegalZoom.com, Inc. (NASDAQ: LZ), the industry leader in online small business formations and a leading online platform for legal, compliance and tax solutions, today announced an integration to provide entity formation services to Novo customers.

“As the leader in small business formation, LegalZoom has a deep understanding of what small businesses need in order to thrive, and a business checking account is one of the essential things that helps set entrepreneurs up for success when first starting out,” said Kathy Tsitovich, Chief Partnerships Officer, LegalZoom. “Novo has built a digital checking ecosystem that enables small business owners to perform many vital tasks from a centralized location. Through our partnership with Novo, we look forward to becoming part of that ecosystem and giving Novo’s customers a streamlined way to select the business entity classification that’s right for them.”

LegalZoom is now integrated into the Novo platform, enabling customers of all sizes to seamlessly access entity formation services for LLCs, S-Corps, C-Corps, and nonprofits. LegalZoom and Novo are also offering informational resources to help small businesses learn about the differences and benefits associated with each type of entity. Novo customers who choose to form an entity through LegalZoom will receive a discounted rate of up to 20% on entity formation.

“LegalZoom is a true leader in providing small businesses with world-class solutions for the legal and compliance services they need — allowing business owners to focus on what’s most important, which is running their companies,” said Brad Paterson, EVP of Business Development at Novo. “We are excited to be partnering with LegalZoom to simplify the process for Novo customers to manage or upgrade their entity requirements, help them remain compliant and allow them to focus on building a thriving business.” 

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About Novo

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 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.

About LegalZoom.com, Inc.

LegalZoom is the number one brand in online business formation according to small business owners and is a leading online platform for legal and compliance solutions in the United States. With its mission to democratize law, LegalZoom operates across all 50 states and over 3,000 counties in the United States and has more than 20 years of experience navigating complex regulations and simplifying the legal and compliance process for its customers. Driven by its core value that every business deserves the full protection of the legal system and a simple way to stay compliant with it, LegalZoom helps its customers form and protect their businesses, their ideas and families. In 2020, 10% of all new LLCs and 5% of all new corporations in the United States were formed through LegalZoom, enabling small business owners to apply their energy and passion to their businesses instead of the legal and regulatory complexity required to operate them. In addition to business formations, LegalZoom offers ongoing compliance and tax advice, trademark and copyright filings and estate planning documents to protect small businesses and the families that create them.

To learn more about LegalZoom.com, please visit us at www.legalzoom.com

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Novo Press Contact: Alex Parks, press@novo.co

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