Novo, the powerfully simple financial solutions platform for small businesses, and LegalZoom.com, Inc., the industry leader in online small business formations and a leading online platform for legal, compliance and tax solutions, today announced an extensive new partnership that provides small businesses with seamless access to each other’s services.
Over half of U.S. small businesses do not have a business bank account, often due to cumbersome requirements such as going to a bank in person and lengthy application processes. LegalZoom’s partnership with Novo now enables small businesses to submit applications for a Novo checking account directly within LegalZoom. LegalZoom customers who apply for a Novo account have their business information and key documents pre-populated, so submitting an application takes two minutes. Once their Novo account is set up, small business owners can receive up to $550* as a bonus for using their Novo Debit Card.
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Novo customers can also now access LegalZoom services through the Novo platform, giving small businesses seamless access to formation services for LLCs, S-Corps, C-Corps, and nonprofits, as well as registered agent and business advisory services.
“Separating business and personal finances is essential for small businesses – it sets the foundation for building business credit and simplifying tax time,” said Kathy Tsitovich, Chief Partnerships Officer, LegalZoom. “By partnering with Novo, we can streamline the process of forming a business and opening a bank account, improving access for entrepreneurs to these foundational business needs.”
“Integrating LegalZoom services into the Novo platform marks a significant step forward in Novo’s mission to create an all-in-one solution for small businesses’ financial and operational needs,” said Brad Paterson, EVP of Marketing and Partnerships at Novo. “We are thrilled to work together closely to help all of our small business customers access LegalZoom’s offerings seamlessly.”
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