Novus, the UK challenger bank, has raised $3 million in its latest funding round.

To date, the organisation has raised $5 million in total.

Novus has now gone live on the App Store and Google Play and is actively onboarding users in the UK.

In this latest funding round, the digital banking app beat an initial target of $1.2 million.

“Since raising our first capital in late spring 2021, we have successfully built our own proprietary core banking infrastructure through various milestones including partnering with Visa and Railsbank, receiving regulatory approval from the Financial Conduct Authority (FCA) and welcoming over 150 sustainable brands to our in-app marketplace,” said co-founder and chief executive of Novus, Hristian Nedyalkov. “We initially launched our crowdfunding campaign in December 2021 – nine months after securing the pre-seed investment – with the aim to attract like-minded investors and early adopters to join us on our journey to help shape the future.

“We began overfunding almost immediately, after achieving 100 per cent of our $1.2 million target within minutes, and we couldn’t be prouder. We feel incredibly encouraged by the response to our crowdfunding campaign as we bring the Novus mission to the UK market.”

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