Our History
NorthOne was founded in 2017 in New York City by Dan O’Malley and Michael Rangel, two veterans of the fintech and tech industries who shared a vision for a better banking experience for small businesses.
At the time, small business owners were forced to choose between outdated legacy banks with poor digital experiences and complex enterprise solutions that were overkill for their needs.
The founders believed that modern businesses deserved a banking partner that was as agile, digital-first, and customer-obsessed as they were.
After months of research and interviews with hundreds of entrepreneurs, they built a minimum viable product (MVP) focused on real-time balance updates, seamless expense tracking, and instant virtual cards.
In early 2018, NorthOne launched in beta with just 500 handpicked customers, mostly freelancers and e-commerce sellers. The feedback was overwhelmingly positive, with users praising the app’s simplicity and speed.
By mid-2019, NorthOne had raised $20 million in Series A funding led by Redpoint Ventures, allowing the team to expand engineering, compliance, and customer support.
The company achieved a major milestone in 2020 when it surpassed 10,000 active business accounts, despite the economic uncertainty of the global pandemic.
In 2021, NorthOne introduced integrated invoicing and payment tools, enabling freelancers to get paid faster directly through the app.
The platform continued to evolve with deep integrations into tools like Shopify, QuickBooks, and Stripe, creating a unified financial hub for small businesses.
In 2022, NorthOne expanded its offerings to serve SaaS startups and agencies, adding team accounts, role-based permissions, and advanced analytics.
2023 marked the launch of NorthOne Pro, a premium tier with features like cash flow forecasting, automated expense categorization, and priority support.
By early 2024, NorthOne processed over $1 billion in annual transaction volume and served customers in all 50 U.S. states.
The company remains committed to its founding mission: to build the most trusted, intuitive, and powerful banking platform for the next generation of businesses.
Today, NorthOne is more than a bank—it’s a growth partner for ambitious entrepreneurs who refuse to let outdated financial tools hold them back.
With a team of over 150 employees and a culture rooted in transparency, innovation, and customer obsession, NorthOne continues to redefine what business banking can be.
