Are there any business types that can't apply for a Novo account?

Yes. Some business types aren’t a fit for Novo. This comes down to the rules we have to follow and the level of risk we can take on. We can’t support businesses involved in: Adult content or services ATMs, vending machines, or banking kiosks Credit repair or debt collection Crowdfunding Cryptocurrency (dealers or exchanges) Firearms or military equipment Hemp production (growing or processing, but hemp-based CBD retail is allowed) Investment clubs or unregistered advisors Investment firms or pooled funds Invoice factoring or discounting Marijuana or cannabis products Money service businesses (MSBs) Lending (mortgage or non-mortgage) Online gambling or fantasy sports platforms Gas stations Securities or investment companies If your business isn’t listed, we may still decline an application if it falls outside our risk guidelines. This is based on compliance requirements and risk.