LegalZoom’s brand is all about helping SMBs form and operate their businesses more easily. And a new partnership announced today appears poised to advance that mission. Miami-based Novo is a fintech company offering business checking accounts to SMBs. The integration partnership announced today gives Novo customers access to LegalZoom’s business formation solutions.
“Novo serves hundreds of thousands of small businesses across the U.S. And one thing we hear from small business owners is that understanding and managing administrative and compliance-related matters is a challenge that remains a major concern,” Novo Executive Vice President of Business Development Brad Paterson. told Localogy Insider today.
“We see this partnership with LegalZoom as invaluable to helping our growing customer base simplify some of the administrative and compliance requirements by helping them choose the business entity that’s right for them from within our platform.”
On a Mission
LegalZoom seems to be on a mission to expand its appeal to SMBs by expanding the solution set via integrations.
“As the leader in small business formation, LegalZoom has a deep understanding of what small businesses need in order to thrive. And a business checking account is one of the essential things that helps set entrepreneurs up for success when first starting out,” said LegalZoom Chief Partnerships Officer Kathy Tsitovich.
“Novo has built a digital checking ecosystem that enables small business owners to perform many vital tasks from a centralized location. Through our partnership with Novo, we look forward to becoming part of that ecosystem and giving Novo’s customers a streamlined way to select the business entity classification that’s right for them.”
This is just the latest partnership the company has formed that is aimed at broadening its appeal to SMBs.
About this time last year, we wrote about a deal between LegalZoom and POS fintech Square. This deal offered their customers preferential pricing options for Square operations and financing solutions.
When we wrote about the LegalZoom-Square partnership, we thought a deal with Intuit might soon follow. So far, that hasn’t happened.
Here is some of what we wrote a year ago.
We wouldn’t be surprised if there is a brewing partnership with Intuit since this management team intimately knows the workings at Intuit. We’ve long held that this leader wasn’t leveraging its position as a key resource for small business owners. When will LegalZoom partner with an SMB CRM SaaS solution provider? We’d believe it will be sooner rather than later.
They may not be following precisely the path we anticipated. Yet the company is definitely focused on expanding its SMB offering via partnerships. Which is just as we anticipated.
