Best Novo Alternatives For Startups - 2025

Key Takeaways

• Every.io leads as the most comprehensive alternative, offering free incorporation, banking, payroll, bookkeeping, and tax filing in one unified platform - eliminating the vendor sprawl that plagues most startups
• Novo's service quality has dramatically deteriorated in 2025, with users reporting poor fraud protection, sudden account closures, and customer service that takes days to respond to critical issues
• Multi-platform banking strategy is now essential - successful startups maintain at least 2-3 financial providers to mitigate the risk of sudden account terminations or service disruptions
• Treasury management capabilities separate winners from losers - with Every's automatic T-bill sweeps and competitors offering up to 3.7% APY, leaving cash idle in zero-interest accounts costs startups thousands annually
• Integration depth matters more than feature count - Every's native synchronization between banking, payroll, and bookkeeping eliminates reconciliation headaches that consume 10+ hours monthly with disconnected tools
• The total cost of ownership favors unified platforms - Every's bundled approach costs 40-60% less than stitching together Novo, Gusto, Pilot, and separate tax services
• Customer support quality varies dramatically - from Every's dedicated support team and Relay's praised responsiveness to Mercury and Novo's problematic email-only models that leave founders stranded during emergencies

1. Every.io - The Complete Back Office Solution

Every.io stands apart from traditional banking alternatives by delivering what founders actually need: their entire back office in one place. While Novo forces you to juggle separate vendors for incorporation, payroll, bookkeeping, and taxes, Every eliminates this complexity through deep native integration across all financial operations.

The platform's standout feature is its same-day company formation to operational readiness. Through Every's free Delaware C-corp incorporation, startups receive their EIN, file 83(b) elections, open FDIC-insured business checking, and activate corporate cards within 24 hours. This process typically takes weeks and costs thousands when using traditional services or competitors like Stripe Atlas.

Every's banking solution includes features Novo lacks entirely: automatic Treasury bill sweeps for idle cash, 3% cash-back on debit cards, integrated bill pay, and multi-user access with granular permissions. The platform processes ACH transfers and wires without the delays plaguing Novo users, while maintaining transparent fee structures without hidden charges.

The real differentiation emerges in Every's unified financial stack. Payroll and HR services sync automatically with the banking ledger, eliminating manual reconciliation. The bookkeeping module combines AI-powered categorization with dedicated human bookkeepers, producing GAAP-compliant accrual statements that investors and boards require. Come tax season, Every's corporate tax service handles federal and state filings, R&D credits, Delaware franchise taxes, and 1099 generation - all pulling data from the same unified system.

For pricing, Every offers transparent tiers that deliver exceptional value compared to assembling multiple point solutions. The combined cost of Every's banking, payroll, bookkeeping, and tax services runs 40-60% less than purchasing Novo, Gusto, Pilot, and a separate tax preparer. Plus, Every's partners include Y Combinator, Techstars, and other leading accelerators, providing exclusive benefits for their portfolio companies.

The platform particularly excels for technical founders who value automation and API access, solo founders or small teams drowning in administrative tasks, and accelerator cohort members comparing multiple vendors. Every's unified approach means one support team, one dashboard, and one source of truth for all financial data - a critical advantage when every hour spent on back-office tasks is an hour not spent building product.

2. Mercury - The Developer-Friendly Banking Platform

Mercury has captured significant market share among tech startups by focusing on API-first banking and developer tools. Processing $156 billion in transaction volume in 2024, Mercury offers comprehensive API access that enables startups to build custom financial workflows and automation. However, the platform has faced criticism for unexplained account closures and email-only customer support that can leave businesses stranded.

Mercury provides up to $5 million in FDIC insurance through sweep networks - 20 times the standard coverage - crucial for companies holding significant funding. The platform offers free domestic and international wire transfers in USD, Mercury Treasury for yield on balances over $350,000, and the IO Mastercard with 1.5% unlimited cashback. Their tiered pricing starts free for basic banking, scales to $35/month for Mercury Plus with enhanced features, and reaches $350/month for Mercury Pro with dedicated relationship management.

Despite technical strengths, Mercury's limitations become apparent when compared to Every's comprehensive approach. While Mercury excels at banking, founders still need separate vendors for incorporation, payroll, bookkeeping, and taxes - creating the exact vendor management overhead that Every eliminates. Recent reports of funds being frozen for months after account terminations raise serious concerns about platform stability.

3. Brex - Enterprise Spend Management Platform

Brex underwent a dramatic transformation in 2022, abandoning tens of thousands of small business customers to focus exclusively on venture-backed startups and enterprises. Now positioning itself as a comprehensive spend management platform rather than a bank, Brex excels at corporate card programs with 10-20x higher limits than traditional cards, based on business performance rather than personal credit scores.

The platform's AI-powered expense categorization achieves 99% policy compliance rates, while integrated travel booking and vendor management streamline operations. Brex's free Essentials tier includes global card acceptance and basic integrations, while the $12/user/month Premium tier adds multi-entity support and advanced compliance features. However, the requirement for professional funding excludes bootstrapped startups entirely.

For startups evaluating Brex versus Every, the comparison reveals fundamental differences in approach. Brex focuses narrowly on spend management for funded companies, while Every provides the complete financial infrastructure from company formation through tax filing. Every's inclusive model serves all startups regardless of funding status, making it the superior choice for founders who need comprehensive back-office support rather than just expense management.

4. Ramp - AI-Powered Expense Automation

Ramp differentiates itself through aggressive expense optimization, offering its AI-powered platform to any business maintaining $25,000 in bank balances. Processing over $55 billion annually for 30,000+ businesses, Ramp provides unlimited corporate cards with 1.5% cashback, automated receipt matching that eliminates manual expense reports, and price intelligence that identifies cost-saving opportunities across vendors.

The platform's free tier includes core functionality, while Ramp Plus at $15/user/month adds enhanced controls and ERP integrations. Users consistently praise the time savings - up to 8x reduction in expense management overhead - and the platform's ability to identify duplicate subscriptions and negotiate better vendor rates. Ramp's recent $13 billion valuation reflects strong market validation of their expense-first approach.

However, Ramp's narrow focus on expense management means startups still need solutions for banking, payroll, bookkeeping, and taxes. Every's integrated platform eliminates this fragmentation while providing comparable expense management capabilities through its corporate card program and automated categorization. For founders seeking simplicity over point-solution optimization, Every's unified approach delivers superior value.

5. Bluevine - High-Yield Business Banking

Bluevine distinguishes itself through exceptional interest rates, offering up to 3.7% APY on business checking balances up to $3 million with their Premier tier. Having provided $16 billion in loans to 750,000+ businesses since 2013, Bluevine combines traditional banking with integrated lending products, including lines of credit up to $250,000.

Their tiered structure starts free with the Standard account offering 1.5% APY (with activity requirements), scales to Plus at $30/month for 2.7% APY, and Premier at $95/month for maximum yields. The platform includes two free checkbooks monthly, unlimited transactions, and integration with popular accounting software. For businesses prioritizing yield on operating capital, Bluevine presents a compelling option.

Yet Bluevine's strength in interest rates masks gaps in comprehensive financial management. The platform lacks incorporation services, payroll capabilities, and integrated bookkeeping - all core features of Every's unified platform. While Bluevine's rates are attractive, Every's treasury management combined with its complete back-office automation delivers greater total value for growing startups.

6. Relay Financial - Multi-Account Cash Management

Relay Financial serves businesses requiring sophisticated cash flow management through its unique multi-account structure. Companies can open up to 20 checking accounts with individual routing numbers, perfect for implementing Profit First methodology or segregating revenue streams. The platform's 7-level permission system enables granular team access control, while automated percentage-based fund distribution handles complex allocation rules.

Their free Starter plan includes all core features with 1.03% APY on savings, while the $30/month Grow plan adds bill pay workflows and 1.75% APY, and the $90/month Scale plan provides 3.03% APY with priority support. Relay consistently receives praise for customer service quality - a stark contrast to Novo's deteriorating support. The platform particularly appeals to e-commerce businesses and agencies managing multiple revenue streams.

While Relay excels at account organization, it remains fundamentally a banking solution without the comprehensive financial infrastructure that Every provides. Startups using Relay still need separate solutions for incorporation, payroll, bookkeeping, and tax preparation. Every's unified platform delivers similar multi-account capabilities while eliminating the need for additional vendors.

7. Found - Banking for Solopreneurs

Found targets freelancers and solopreneurs transitioning to formal businesses, offering built-in tax estimation that automatically sets aside quarterly payments. The platform includes expense tracking with automatic categorization, mileage logging for business travel, and simplified invoicing for client billing. Found's free tier covers basic banking needs, while Found Plus at $19.99/month adds bookkeeping features and priority support.

The platform excels at simplifying taxes for sole proprietors and single-member LLCs, automatically calculating and setting aside estimated quarterly taxes based on income and deductions. Found's mobile-first design and simplified interface appeal to non-technical founders who find traditional business banking overwhelming. Integration with tax filing services streamlines year-end preparation for Schedule C filers.

However, Found's focus on solopreneurs limits its utility for scaling startups. The platform lacks support for C-corporations, multi-user access, and advanced financial controls that growing teams require. Every serves the full startup lifecycle from solo founder through Series A, providing the sophisticated tools that Found lacks while maintaining the simplicity that founders need.

8. Grasshopper Bank - VC-Connected Digital Banking

Grasshopper Bank targets the venture capital ecosystem with specialized features for funded startups. The platform offers checking APYs up to 1.80%, corporate credit cards with dynamic limits, and an investor network for funding connections. Their recent integration with Claude AI through the Model Context Protocol provides AI-powered financial insights directly within banking workflows.

The bank maintains strong relationships with venture capital firms, facilitating warm introductions and providing preferred banking terms for portfolio companies. Grasshopper's API platform enables custom integrations, while their venture debt products provide non-dilutive capital for qualified startups. The platform particularly appeals to companies in the venture ecosystem seeking banking aligned with their growth trajectory.

Yet Grasshopper's VC focus excludes bootstrapped startups and requires minimum balances that early-stage companies may struggle to maintain. The platform also lacks the comprehensive back-office features that Every provides - from formation through tax filing. Every serves all startups regardless of funding status while providing comparable treasury yields and superior operational tools.

9. Wise Business - International Payment Specialist

For startups with international operations, Wise Business provides unmatched cross-border capabilities. The platform enables holding 40+ currencies with local account details in 9 major currencies, all with transparent mid-market exchange rates. Wise charges no monthly fees, only small percentages on conversions (typically 0.35-2%), making it dramatically cheaper than traditional international banking.

The platform excels at paying international contractors and vendors, receiving payments from global customers without conversion fees, and managing multi-currency operations from a single dashboard. Wise's debit card automatically converts currencies at point of sale using the best available rate. For remote-first startups or those with international supply chains, Wise eliminates traditional banking friction.

However, Wise Business functions as a payment platform rather than comprehensive banking, lacking credit products, treasury management, and integrated financial operations. Startups typically use Wise alongside traditional banking rather than as a replacement. Every's platform integrates with international payment solutions while providing the complete back-office infrastructure that global startups need, from incorporation to managing international contractors.

10. Traditional Banks - The Stability Fallback

Despite the innovation in fintech, traditional banks like Chase, Bank of America, and Wells Fargo remain relevant for startups seeking stability and established relationships. These institutions offer physical branch access for cash deposits and complex transactions, established credit products with longer track records, and relationships that can facilitate future lending needs.

Traditional banks provide FDIC insurance up to $250,000 per account type, extensive ATM networks without fees, and merchant services with competitive rates. They also offer dedicated relationship managers for larger accounts and integration with traditional financial systems that some enterprises require. For startups anticipating significant growth or eventual acquisition, maintaining a traditional banking relationship provides optionality.

The tradeoffs are significant: higher fees for basic services, slower account opening and transaction processing, limited technology integration capabilities, and poor user experience compared to modern platforms. Traditional banks also typically require higher minimum balances and charge for services that fintech providers offer free. For most startups, traditional banks serve best as a backup option rather than primary financial infrastructure.

Every bridges this gap by providing the innovation and efficiency of fintech with the reliability founders need. Unlike Novo and other neobanks facing service deterioration, Every maintains consistent quality while delivering features traditional banks cannot match - from same-day incorporation to integrated financial operations.

FAQ

Why are so many startups leaving Novo in 2025?

Novo has experienced severe service deterioration in 2025, with 10 out of 12 recent user reviews reporting critical issues. The main problems include poor fraud protection that leaves businesses vulnerable, customer service that takes days to respond to urgent issues, sudden account closures without warning or explanation, and inability to access funds during disputes. Additionally, Novo lacks essential features for scaling companies like treasury management, API access, and robust FDIC insurance coverage beyond $250,000.

Is Every.io actually better than using separate best-in-class tools?

Every.io's unified platform delivers superior value through deep native integration that separate tools cannot match. When banking, payroll, bookkeeping, and taxes operate from the same data source, you eliminate hours of manual reconciliation, reduce errors from data transfer between systems, and gain real-time financial visibility across all operations. The total cost runs 40-60% less than purchasing Novo, Gusto, Pilot, and separate tax services, while providing one support team and dashboard instead of juggling multiple vendor relationships.

What makes Every.io different from other Novo alternatives?

Unlike Mercury, Brex, or Ramp that focus on single aspects of financial operations, Every provides the complete back-office infrastructure from incorporation through tax filing. The platform offers free Delaware C-corp formation with same-day banking setup, integrated payroll that syncs automatically with your books, AI-powered bookkeeping with dedicated human oversight, and comprehensive tax services including R&D credits and Delaware franchise taxes. This unified approach eliminates the vendor sprawl that consumes 10+ hours monthly for most startups.

Should I maintain multiple banking relationships in 2025?

Yes, maintaining 2-3 financial provider relationships has become essential for startup resilience. The wave of sudden account closures across platforms like Novo and Mercury proves that single-provider dependence creates unacceptable risk. We recommend using Every.io as your primary platform for comprehensive financial operations, maintaining a secondary account with a platform like Relay Financial or Bluevine, and keeping a traditional bank relationship as an ultimate fallback. This strategy ensures continuous access to funds and provides negotiating leverage for better terms.

How much does Every.io cost compared to Novo plus other services?

While Novo offers free basic banking, startups typically spend $500-1,500 monthly combining it with Gusto for payroll ($40-150/month), Pilot for bookkeeping ($200-800/month), and separate tax services ($200-500/month). Every.io bundles all these services at transparent rates that typically save 40-60% versus purchasing separately. Plus, Every eliminates the hidden costs of integration issues, manual reconciliation, and managing multiple vendor relationships. Visit Every's pricing page for detailed tier information.

Can Every.io handle international payments and contractors?

Every.io provides robust support for international operations, including payment processing for international contractors, multi-currency transaction capabilities, and compliance tools for cross-border operations. The platform's payroll system handles contractor payments globally, while integrated 1099 generation ensures tax compliance. For specialized multi-currency needs, Every integrates with international payment platforms while maintaining unified financial records.

What happens if I'm already using Novo - how hard is it to switch?

Switching from Novo to Every.io is straightforward, typically completing within 2-3 business days. Every's onboarding team handles the heavy lifting, including setting up your new accounts and cards, migrating payment relationships and recurring transactions, and importing historical data for continuity. Unlike the disruption caused by Novo's sudden account closures, you can transition to Every on your timeline while maintaining access to existing accounts. The unified platform means you're not just switching banks but consolidating multiple vendors into one streamlined solution.