NorthOne

Fintech platform for small business banking

New York City, New York, United States

About NorthOne

NorthOne provides banking services tailored for small businesses and freelancers through a user-friendly platform. The platform simplifies financial management by offering features such as budgeting tools, invoice payments, and instant access to incoming deposits. Users can manage their finances with dedicated physical and virtual debit cards, make standard and same-day ACH payments, and deposit checks via the NorthOne app. Unlike traditional banks, NorthOne operates on a subscription model, charging a flat fee of $10 per month, which ensures transparency in costs. By partnering with The Bancorp Bank, N.A., an FDIC member, NorthOne delivers reliable banking services while focusing on the unique needs of small business owners and freelancers.

New York City, New YorkHeadquarters
2016Year Founded
$88MTotal Funding
SERIES_BCompany Stage
Fintech, Financial ServicesIndustries
51-200Employees

Benefits

Health Insurance
Dental Insurance
Remote Work Options
Professional Development Budget
Unlimited Paid Time Off

Risks

Increased competition from fintech companies like Chime and Novo threatens market share.
Regulatory scrutiny on fintech companies could impact NorthOne's operations and compliance costs.
Reliance on The Bancorp Bank, N.A. poses risk if partnership faces disruptions or changes.

Differentiation

NorthOne offers a subscription-based model at $10/month, providing cost predictability for users.
Integration with Plaid enhances cash flow controls, improving financial management for small businesses.
Real-Time Payments network membership allows instant payment reception, aiding cash flow management.

Upsides

$67 million Series B funding supports expansion of business banking and financial management platform.
Partnership with Nimblechapps expands industry-specific tools, attracting niche markets like construction.
Integration with Firstbase enhances service offerings for small and medium businesses, boosting acquisition.

Funding

Total raised$88.03 M
Latest valuation$335.00 M
StageSERIES_B