It’s no secret that small businesses struggle to manage their finances. Cashflow problems are often cited as the #1 reason why small businesses fail. No small business owner starts their business excited at the prospect of managing their books, analyzing their monthly statements, or gathering the data to submit a loan application. Novo and Gusto aim to work together to help.

Payroll remains a difficult and complicated process for small business owners to manage on their own, which is why we’re excited to announce our partnership with Gusto, the all-in-one payroll platform. Gusto is a world leader in payroll services, empowering small businesses across the US with the technology they need to manage their payroll as seamlessly as possible.

There are a lot of synergies between payroll and banking that have been ignored by traditional banking providers. Novo is excited to partner with Gusto to create a deeply embedded payroll offering that is unique and specific to the needs of our customers.

“Payroll is one of the biggest expenses for small businesses, and being able to integrate it more deeply into the whole financial picture opens up many opportunities to optimize cash flow and operations. We’re excited about working with Gusto to provide the most flexible payroll experience to our businesses.” -Matt Hamilton, Novo VP of Product.