NorthOne, a Canada-based mobile banking platform for small businesses, freelancers, and startups, recently announced its as secured $21 million through its Series A funding round, which was led by Shiran Shalev from Battery Ventures, with participation from Redpoint Ventures, and Tom Williams.
“NorthOne is a mobile-first API-based bank account and mobile app that helps startups and small businesses bank, manage their finances, and integrate all of their financial tools in a simple and intuitive way.”
Eytan Bensoussan, NorthOne’s Co-Founder and CEO, stated that he and his team started NorthOne to “undo the injustice” of small business banking issues.
“In so doing, we haven’t only built a small-business focused challenger bank, we’ve built a banking platform that can act as the world-class finance department most small businesses could never afford. At the center of it all is a fundamentally better bank account. NorthOne delivers all the operational banking functionality a business might need (wires, mobile check deposit, ACH, cash deposits) through a mobile app that is designed to be intuitive, simple and delightful. No confusing forms to fill out. No 1-800 numbers to call knowing you’ll be stuck on hold. We give these business builders peace of mind by giving them a bank that solves real pain for them.”
In regards to what the Series A funds will go towards, Bensoussan added:
“This round brings us one step closer to fully solving one of the biggest sources of pain for America’s business builders. This Series A round is an important moment for us, but securing funding is not how we define success. For us, there is no finish line. We’re just getting started.”