1
NovoPayment attracts $20M in financing
Investment funds managed by Morgan Stanley Expansion Capital announced a $20 million investment in NovoPayment, a Miami-based financial technology company that has developed an API-based banking-as-a-service platform that unlocks digital banking, payment, and card solutions for incumbent and up-and-coming firms alike. The non-equity financing will support NovoPayment’s continued scaling and expansion of commercial partnerships.
“NovoPayment’s robust technology platform has positioned the company as a leader in the Latin America market,” said Pete Chung, Managing Director and Head of Morgan Stanley Expansion Capital, in a statement. “The company’s mission-critical infrastructure enables the modernization of marquee banks and financial institutions in the region through a comprehensive, full-stack platform.”
Miami-based NovoPayment, founded in 2007, is a vertical-focused SaaS that enables banks, financial institutions, neo-banks, digital merchants, and fintech’s to offer intuitive digital financial and payment services, improving customer experiences and operational margins. Its flagship platform offers a suite of solutions ranging from digital wallets, instant issuance of deposit accounts and virtual cards to RTP, cross-border transfers, digital lending and cash management. The company raised $19 million in Series A funding in 2022.
NovoPayment serves 15 markets across Latin America, the Caribbean and the United States.
The investment will support NovoPayment’s “continued innovation and service expansion to grow our customer base, further amplifying our positive impact in the markets in which we operate,” said founder and CEO Anabel Perez. “As the financial services landscape continues to evolve, we believe NovoPayment is well-positioned to compete in the embedded finance market by reducing friction and driving efficiency.”
2
NextEra Energy Investments launches Seed Competition
NextEra Energy Investments, the Juno Beach-based strategic investment arm of NextEra Energy, and SOSA, a leader in open innovation consulting, announced their partnership for the 2025 edition of the NextEra Energy Investments Seed Competition to identify the most promising startups that align with their strategic investment goals. Applications are now open.
Pre-Series A startups have the opportunity to receive up to $1 million in capital investment from NEI. The competition invites applications from early-stage companies focused on developing innovative solutions in cybersecurity, data and AI, decarbonization, and energy transition. Startups participating in the 2025 competition will have the chance to connect with NEI’s affiliates and resources, offering valuable insights and potential pathways to market expansion.
Last year’s competition resulted in $3.5 million awarded across five companies, and the upcoming edition aims to build on this success by driving technologies that address key industry challenges. Learn more and apply here.
3
Remittance fintech teams up with Mastercard
Félix Pago, a Miami-based fintech startup that developed a chat-based platform using blockchain and artificial intelligence to enable Latino workers in the US to send money back to their families in Latin America via WhatsApp, has announced a partnership with Mastercard to fuel its expansion into Central America.
This collaboration will introduce Félix Pago’s digital remittance services and Mastercard-powered payment solutions in El Salvador, Honduras, Guatemala, and the Dominican Republic, significantly broadening financial access in these historically underserved regions.
Remittances from the United States to Latin America reached $155 billion in 2023, with Mexico leading the industry with US$67 billion, Guatemala with US$17 billion, Honduras with US$8 billion, the Dominican Republic with US$6 billion, and El Salvador with US$4 billion.
According to Mastercard’s data, 1 in 4 families in Central America depend on remittances from family members in the United States to keep them above the poverty line.
“Félix Pago’s presence in the region addresses a critical need for reliable, secure, and accessible money transfer services,” said Manuel Godoy, CEO of Félix Pago, in a statement. “The partnership will deliver an expanded range of financial products and a card issuance program to serve the unique financial needs of both senders and recipients, supporting financial inclusion across Central America.”
READ MORE: It’s $15.5M for Félix Pago: Fundraise to enable product development and expansion
4
Novo unveils new products at Money2020
Novo, a leading banking platform tailored for solopreneurs and small business owners, announced at Money 20/20 USA a significant expansion of its services with the launch of the Novo Business Credit Card issued by Continental Bank, as well as new financing and bookkeeping products.
Designed specifically for the growing community of solopreneurs — an often overlooked yet rapidly rising segment of the U.S. workforce accounting for 84% of all small businesses — the Novo Business Credit Card, Novo Bookkeeping and Novo Invoice Flex aim to simplify the financial management burden for self-employed professionals like consultants, accountants, and designers, allowing them to focus on growing their businesses.
“At Novo, we believe that entrepreneurship is not meant to be a solitary journey. Building a business doesn’t mean going at it alone,” said Michael Rangel, CEO and founder of Novo. “The Novo platform supports solopreneurs in the exact moments when they need support, providing the freedom to focus less on the financial details and more on pursuing their passion.”
5
Lucyd launches smart safety eyewear
Innovative Eyewear, developer of ChatGPT-enabled smart eyewear under Lucyd Armor, what it says is the first smart safety eyewear in a lightweight, affordable and prescription-ready form factor, and meeting the ANSI Z8.1 standard for workplace safety use.
Designed for professionals in many different environments from industrial, to logistics, to medical, Lucyd Armor combines certified eye protection with advanced technology to enhance the workplace. Lucyd, Nautica, Eddie Bauer and Reebok brands, announced that it has launched Lucyd Armor, a category-defining smart safety glass that offers ANSI Z87.1-certified protection alongside instant ChatGPT access, auto-tinting lenses, a walkie-talkie VOIP feature, and a form factor similar to stylish sport wrap-around glasses.
In addition to these features, Lucyd Armor’s open-ear audio system, AI-powered noise reduction microphones, a walkie-talkie function, and Bluetooth 5.3 connectivity provide workers with the convenience to take calls, access smart features and AI information, and listen to audio instructions while remaining aware of their surroundings.
“Lucyd Armor sets a new standard in protective eyewear,” said Harrison Gross, CEO of Innovative Eyewear. “We’ve combined cutting-edge technology with rigorous safety standards to offer professionals a smarter, more efficient way to stay protected on the job. This launch reflects our vision to lead the evolution of wearable tech in industries where safety and performance go hand in hand.”
The company is in discussion with several notable retailers about launching the Armor product in brick and mortarlocations. Lucyd Armor is also available on Innovative Eyewear’s Lucyd.co website.
READ MORE: Your next smart eyewear? It’s music (and AI) to your ears
6
How tech salaries stack up in Florida
There’s one Florida city that ranks among the top 10 U.S. markets where technology workers earn the highest salaries, but it isn’t Miami, according to the 2024 Dice Tech Salary report. Tech employees in Miami earned an average of $100,093 in 2023, less than what their counterparts in other large Sunshine State cities like Tampa and Orlando received, the South Florida Business Journal reported.
In Tampa, tech professionals earned an average of $119,848, ranking No. 7 nationally. The city has more than 50,000 residents in tech occupations and, like Miami, is a hub for entrepreneurs and startups in the state. Tampa employees earned nearly the same amount as workers in New York City ($119,865) and earned about $2,000 more per year than employees based in Los Angeles.
Orlando-based tech employees earned an average of $106,693 in 2023, almost $7,000 more than workers in Miami. salaries there grew 9.2% between 2022 and 2023 and was among the U.S cities with the fastest-growing tech salaries last year. Read more here.
7
FAU wins $800K DOE grant for clean energy tech
Florida Atlantic University was awarded $800,000 from the U.S. Department of Energy’s Water Power Technologies office to develop commercial-ready ocean energy technologies. As part of that, FAU’s Southeast National Marine Renewable Energy Center (SNMREC) is collaborating with a team of experts on a feasibility study to set up the world’s first ocean current test facility off the coast of Palm Beach County. The team includes personnel from The City of Lake Worth Beach Electric Utility, 3U Technologies, 48 North Solutions, Braid Therory, IDOM Incorporated and the European Marine Energy Centre, the South Florida Business Journal reported.
The goal is to establish South Florida as a hub for ocean and maritime technology, a field known as blue tech, and bring more of those businesses and manufacturing to the region. FAU is already a member of the ClimateReady Tech Hub, an initiative led by Miami-Dade County that aims to develop, commercialize and scale climate technology solutions.
8
TradeStation announces tech and finance conference
TradeStation, a multi-asset online brokerage firm, announced its inaugural Crossroads Summit, scheduled to take place at the University of Miami in Coral Gables from November 21-22, 2024.
This two-day event will feature high-profile keynote speakers, including Miami Mayor Francis Suarez, Cathie Wood of ARK Invest, best-selling author Peter Zeihan, and Jamie Metzl, Founder and Chair of One Shared World. The theme, “Chaos Meets Innovation,” will explore how disruptive forces across the geopolitical, economic, and technological arenas are driving new opportunities for innovation.
As Miami continues to grow as a hub for finance and tech, this event will gather world-class leaders and strategists, offering a unique opportunity for local insights into global trends. For example, Wood will discuss how to harness innovation amid chaos in today’s rapidly evolving environment. Zeihan will also take the stage to provide a deep dive into the shifting geopolitical landscape and its implications for global markets, and Metzl, a technology futurist, geopolitics expert and sci-fi novelist, will explore the future of technology and its transformative impact on society and industries.
To see the full list of speakers and register for the Crossroads Summit, visit the website.
9
IntelePeer adds CPO
Miami-based IntelePeer, a leading provider of AI-driven communication automation solutions, appointed of Brandon Nott as Chief Product Officer. Nott joins IntelePeer with a track record in developing transformative B2B SaaS products and overseeing the successful launch of AI and customer experience solutions. Previously, Nott held executive roles at Amelia and UiPath, where they delivered breakthrough AI strategies and pioneered B2B customer-centric roadmaps.
As CPO, Nott will drive the development and execution of IntelePeer’s product roadmap which focuses on leveraging generative AI, analytics and IntelePeer’s proprietary telephony platform to empower its customers to deliver exceptional customer experiences. Key responsibilities will include guiding the product vision, ensuring alignment across teams, including development, marketing, sales, and delivery, and he will work with stakeholders to prioritize market opportunities that support the company’s goals for commercial growth and enhanced market positioning.
READ MORE: IntelePeer’s $140 million leap: AI automation poised to revolutionize customer service
10-PLUS
Opportunity knocks
- Mindspace Downtown, a Miami boutique coworking space, is hosting “The Big Pitch Night” at Mindspace Downtown on the evening of Nov. 19. This event will showcase Miami entrepreneurs pitching their ideas to top Miami VCs as the judges, with Daymond John from ABC’s Shark Tank moderating. Startups can pitch their ideas and showcase them to Miami’s brightest minds by applying here. Selected participants will have 3 minutes to pitch, followed by a 5-minute Q&A with the judges. RSVP for the event here.
- Founders, apply to join the eMerge Global Startup Accelerator + Showcase, an opportunity to take your company to the next level. eMerge Americas offers startups the opportunity to debut and share their transformative ideas by providing access to resources, investors, curated bootcamps, mentors, and networking opportunities with global enterprises. Learn more and apply here by Dec. 31.
- The Alan B. Levan | NSU Broward Center of Innovation announced its next Veterans Facilitated Business Model Canvas Program, which is offered at no cost to veterans through support by Veterans Florida. The 10-week program, meeting on Tuesdays from 4:30pm to 7:00pm starting on January 14 allow veterans with a business idea to validate their idea and begin building out their business plan to create a startup. The sessions are facilitated by experts and serial entrepreneurs. Apply for this program here. The deadline to apply is December 6.
- The SMB Growth Lab, presented by eMerge Americas and powered by JP Morgan Chase, is an opportunity for SMBs located in Miami Dade County to gain access to cutting-edge digital tools, comprehensive training, and exclusive connections with key players in the tech ecosystem—all designed to propel your business to new heights. 50 SMBs will be selected for the cohort. Learn more and apply here by Dec. 31.
- If you’re a job seeker, an industry expert, or higher education professional, the Tech Talent Fest on Nov. 18 at FIU will offer interactive workshops, panel discussions, and presentations focused on tech recruitment, workforce development, and job placement. The Tech Talent Fest will be presented by South Florida Tech Hub and Miami Tech Works. It’s free for job seekers. Find more information and register here.
- The Florida Venture Forum is now accepting presenter applications for the 2025 Florida Venture Capital Conference March 3-5, 2025 at the Loews Coral Gables. Apply here.
- Endeavor Miami is accepting applications for its next ScaleUp Program. Apply for ScaleUp here.
- The Miami Downtown Development Authority is offering $1.1 million in incentives to attract businesses seeking to move to or expand their operations to Downtown Miami’s Central Business District, Arts & Entertainment District or Brickell. The program offers grants up to $25,000 per business for startups, and is flexible to allow businesses to either operate out of a co-working space or lease their own dedicated office space. Grants up to $50,000 are available for mid-size businesses. Learn more here.
ICYMI
- RecargaPay founder shares insights on building a Brazilian fintech giant, and what’s next
- Nodal nabs $4M to expand its mission of making surrogacy more accessible and transparent
- FAU’s Ryan Lilly is on a mission to make South Florida a gateway for international tech innovators
- Gradible, an environmental concierge, offers sustainable solutions for businesses
- Healthtech startup Definition Health sets sights on Miami to streamline surgery care with AI
Have news to report? Email Nancy Dahlberg at nancy@refreshmiami.com and follow her on X @ndahlberg. Subscribe to Refresh Miami’s free weekly newsletter here featuring startup news, tech job opportunities and events. Thank you for supporting Refresh Miami.
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