NorthOne

NorthOne

Fintech platform for small business banking

About NorthOne

Simplify's Rating
Why NorthOne is rated
C
Rated C on Competitive Edge
Rated B on Growth Potential
Rated D+ on Rating Differentiation

Industries

Fintech

Financial Services

Company Size

51-200

Company Stage

Series B

Total Funding

$88M

Headquarters

New York City, New York

Founded

2016

Overview

NorthOne provides banking services tailored for small businesses and freelancers through a user-friendly financial technology 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., a member of the FDIC, NorthOne delivers reliable banking services while focusing on the unique needs of its clients.

Simplify Jobs

Simplify's Take

What believers are saying

  • $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.

What critics are saying

  • 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.

What makes NorthOne unique

  • 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.

Help us improve and share your feedback! Did you find this helpful?

Funding

Total Funding

$88M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
Linktree
$65M
Substack
$67M
NorthOne
$100M
ClickUp

Benefits

Health Insurance

Dental Insurance

Remote Work Options

Professional Development Budget

Unlimited Paid Time Off

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

0%

2 year growth

-1%
Real Estate Press Releases
Nov 24th, 2023
Nimblechapps and NorthOne Inc. join forces to Launch Innovative Concrete Calculator App

Nimblechapps & NorthOne unite to launch a revolutionary Concrete Calculator App, transforming project estimation in the construction industry.

The Paypers
Jul 10th, 2023
NorthOne partners with Plaid

NorthOne partners with Plaid.

PYMNTS
Jul 5th, 2023
Northone Integrates With Plaid For Enhanced Cash Flow Controls

Business banking app NorthOne has integrated with Plaid to provide customers with better cash flow controls.The integration lets small businesses that use NorthOne link their financial accounts through Plaid for better transfer capabilities, according to a Wednesday (July 5) press release. This will help businesses escape overdraft fees and carry out more complex treasury functions.“Our customers have been asking us for faster ways to move money into their NorthOne accounts,” said NorthOne Co-founder and CEO Eytan Bensoussan in the release. “By integrating with Plaid, we’ve found a partner that helps us offer them a more transparent, seamless experience.”Many small- to medium-sized businesses (SMBs) fail due to a lack of financial systems and controls, a tide that can be turned by fostering healthier cash flow, per the release.“NorthOne has heard from its customers that they are frustrated by hidden fees, transfer delays and disconnected services that make it difficult to accurately understand their financial situation and move money,” the release said.The integration is happening as many SMB owners are suffering due to inefficient expense management, as Chris Trainor, head of product at Paymentus, said in an interview with PYMNTS in June.Many of these firms are run by people who are consumers themselves, facing a level of complexity that goes beyond managing their personal budgets.These owners don’t have “complete control over their finances and expenses,” Trainor told PYMNTS, “which leads to negative situations related to cash flow and profitability.”He added that SMB owners typically don’t have accounting, bookkeeping and software backgrounds, and thus may not be getting the most out of their digital tools. Many still use analog tools, making and receiving payments with paper checks.Trainor noted that automation can ease the burden of expense management for smaller owners.Plaid’s integration with NorthOne follows the FinTech’s debut last month of a new hosted experience for its Plaid Link product, designed to make it easier for lenders to gain access to real-time cash flow data.The on-demand experience lets lenders access consumer-permissioned cash flow data via Plaid during the underwriting process, so they can determine whether an applicant’s cash flow is sufficient to qualify them for a loan or credit product

PRWeb
Jul 5th, 2023
Northone Partners With Plaid To Give Small Business More Control Over

NEW YORK, NY (PRWEB). July 05, 2023. NorthOne, a leading small business banking app, today announced its integration with Plaid to enhance cash flow controls for NorthOne customers. Small businesses using NorthOne can now link all their financial accounts safely and securely through Plaid for improved transfer capabilities, helping avoid overdraft fees and enabling more complex treasury functions

PYMNTS
Jul 5th, 2023
NorthOne Integrates With Plaid for Enhanced Cash Flow Controls

Business banking app NorthOne has integrated with Plaid to provide customers with better cash flow controls.

Recently Posted Jobs

Sign up to get curated job recommendations

NorthOne is Hiring for 0 Jobs on Simplify!

Find jobs on Simplify and start your career today

💡
We update NorthOne's jobs every 8 hours, so check again soon! Browse all jobs →