Challenges in Articulating the Business Model

NorthOne started as an online bank for small businesses—it’s backed by top-tier VCs including Redpoint and Battery Ventures—but the vision from the beginning was to go beyond banking to add automation/intelligence around things billing, cash management—all the stuff big companies take for granted, but that small ones still struggle with. As Northone began rolling out those capabilities, however, CEO Eytan Bensoussan and his team struggled to describe what NorthOne was becoming—to customers, investors, and job candidates. So together we built a narrative around what NorthOne now calls “Connected Banking.” In this episode we dive into what that means and how Eytan and his team got there.