New York-based FinTech NorthOne has raised $67m in a Series B funding round to expand its platform across new verticals.
Participating in the round were Battery Ventures, Drew Brees, Don Griffith, Next Play Capital, FinTLV, Ferst Capital Partners, Tencent, Tom Williams, Redpoint Ventures and Operator Stack.
NorthOne lets users make fast, easy payments from wherever they do business. The company offers tools to help users budget and plan for upcoming expenses and also provides the ability to load and withdraw cash at locations across the country.
NorthOne was founded in 2016 to serve traditional businesses on main streets across the US. The new funding will enable NorthOne to continue raising the standard of products and services these owners should expect from their banking partners.
The company said it has big plans to be the digital finance department that powers every small business in America.
With this new investment, NorthOne will build new working capital and credit products, as well as faster and more convenient payment solutions for busy entrepreneurs. It will also continue to expand on the dozens of integrations already offered.
NorthOne CEO and co-founder Eytan Bensoussan said, “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. 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.”
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