Novo, a provider of digital-only banking services for U.S. small businesses, has hired Brad Paterson, former director of consumer and emerging products at Visa, and former head of new ventures at PayPal, as executive vice president of business development. of the society.
Paterson brings over two decades of experience to Novo. Previous roles include vice president of marketing and vice president of global operations and expansion at Intuit, head of new ventures at PayPal, and director of consumer and emerging products at Visa. Most recently, Paterson served as CEO of fintech Splitit.
“Brad is a proven business development leader who has helped grow some of the world’s best-known fintech startups and global financial brands,” said Micahel Rangel, CEO and co-founder of Novo. “As Novo enters its next phase of growth, he will be instrumental in leading our efforts to build strategic partnerships that will expand Novo’s user base and enhance the capabilities of the Novo platform.”
Paterson joins Novo during a period of rapid expansion for the company. Recently named one of the 2022 Forbes Fintech 50, Novo surpassed $8 billion in lifetime small business deals. Over the past year, the company has raised $130 million and added over 100,000 new small business customers.
“After working in the fintech world for two decades and speaking with many Novo customers and partners, it’s clear that Novo will soon be supporting millions of small businesses across the United States,” Paterson said. “Novo’s industry-leading technology, coupled with the entire team’s unwavering dedication to helping level the playing field for small businesses, has set them on a growth trajectory that will only continue for years to come.” »
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