North One is a technology company.
North One has raised $90.0M across 3 funding rounds.
North One has raised $90.0M in total across 3 funding rounds.
North One has raised $90.0M in total across 3 funding rounds.
North One's investors include Alt Capital, Bond, CapitalX, Exponent Founders Capital, Greylock, Hyper, Outcast Ventures, Saga, Alex Lieberman, Cat Lee, Chris Murphy, D’Arcy Coolican.
NorthOne is a fintech company offering a mobile-first business banking platform designed for small businesses, freelancers, and startups.[1][2][3] It provides a powerfully simple app and website for banking, featuring high APYs, cash back rewards (up to 4% on restaurants and hotels, 1% on gas), no hidden fees, real-time payments, check deposits, and integrations with accounting software and payment platforms to streamline cash flow and financial management.[3][5][6] NorthOne solves key pain points like slow payments, administrative burdens, and exclusion from traditional banking by enabling instant 24/7 payments via The Clearing House network and automating tasks, allowing owners to focus on growth.[2][5][6] With $90M+ in total funding—including a $67M round—and ~75 employees across NYC headquarters plus offices in San Francisco, Portland, and Toronto, NorthOne shows strong momentum in the SMB fintech space post-2019 launch.[1][3]
NorthOne was founded in 2017 (with some sources noting 2016) by Eytan Bensoussan and Justin Adler, who drew from diverse experiences in banking, retail, technology, and small business ownership.[1][2] The idea emerged from questioning how to make small business owners more successful, leading to intensive customer interviews—thousands in the first year alone—in coffee shops and diners to understand frustrations with traditional banks that "never listen."[2] This grassroots approach shaped a deposit account solving real problems like financial exclusion, with late nights, post-it notes, and partnerships bringing it to life.[2] NorthOne publicly launched in August 2019, quickly gaining traction amid rising digital banking demand during COVID-19, and has since raised $23.3M initially per early data, scaling to $90M total.[1][2][3]
NorthOne stands out in small business banking through these key features:
NorthOne rides the SMB fintech wave, capitalizing on digital banking acceleration from COVID-19 that exposed traditional banks' shortcomings for non-corporate clients.[3] Its timing aligns with market forces like real-time payment demands (e.g., RTP network adoption) and SMB liquidity needs, where cash flow bottlenecks hinder 82% of failures—NorthOne removes these via instant payments and tools.[5] In a landscape of neo-banks pulling back, NorthOne's $67M raise in 2023 signals commitment to SMBs, influencing the ecosystem by democratizing sophisticated finance (e.g., automated "finance departments") for underserved segments, fostering economic rebalancing from the bottom up.[2][3][5]
NorthOne is poised to expand its platform into a full SMB financial OS, leveraging recent real-time payments and integrations for deeper automation.[5][6] Trends like AI-driven finance, embedded banking, and sustained SMB digital adoption will shape its path, especially as it builds on $90M funding for product launches teased post-2023 raise.[3][5] Its influence may grow by powering more startups and freelancers, potentially challenging incumbents further—watch for sending RTP, advanced analytics, and international expansion from Toronto/Portland bases, solidifying its role in inclusive fintech.[3][5] This mission-driven challenger, born from listening to overlooked owners, continues redefining business banking for the digital era.[2]
North One has raised $90.0M across 3 funding rounds. Most recently, it raised $67.0M Series B in October 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2022 | $67.0M Series B | Alt Capital, Bond, CapitalX, Exponent Founders Capital, Greylock, Hyper, Outcast Ventures, Saga, Alex Lieberman, Cat Lee, Chris Murphy, D’Arcy Coolican, Dylan Field, Mathilde Collin, Nikhil Dixit, Scott Belsky, Shivaas Gulati, Vinay Hiremath | |
| Mar 1, 2020 | $21.0M Series A | Battery Ventures, CapitalX, Exponent Founders Capital, Cat Lee, D’Arcy Coolican, Nikhil Dixit, Shivaas Gulati | |
| May 1, 2018 | $2.0M Seed | CapitalX, Exponent Founders Capital, Cat Lee, D’Arcy Coolican, Nikhil Dixit, Shivaas Gulati |