Novo vs Oxygen: Which is Better in 2026?
Choosing between Novo and Oxygen comes down to understanding what each tool does best. This comparison breaks down the key differences so you can make an informed decision based on your specific needs, not marketing claims.
Bottom line: Novo wins this matchup. BILL ranks #1 on our Invoicing list. Perk is our free Invoicing pick. Pick Oxygen if you need its specific feature set.
Short on time? Here's the quick answer
Based on published vendor pricing and features and on public review data, here's who should pick what:
Novo
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
Best for you if:
- • You want a free tier before you commit
Oxygen
Banking services for small businesses and entrepreneurs, currently undergoing new initiatives.
Best for you if:
- • You want historically served a large user base (250K+ monthly active users)
| At a Glance | Novo | Oxygen |
|---|---|---|
Starts at | Free Free plan | Custom |
Category | Finance Invoicing | Finance Accounting |
Rating | 4.0/5 Trustpilot 4.2 · G2 3.5 4,812 reviews | 4.4/5 Capterra 4.5 · G2 4.3 102 reviews |
Free plan | Yes | No |
Choose Novo or Oxygen?
Choose Novo if
- You want a free tier before you commit
- You want business banking for small businesses
- You want no hidden fees approach
Choose Oxygen if
- You want historically served a large user base (250K+ monthly active users)
- You want supported significant card swipe revenue ($550k/month)
In-Depth Analysis
Novo
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
Novo's pricing is exceptionally generous, offering a completely free tier with no monthly fees or minimum balance requirements.
Strengths
- Pro: Business banking for small businesses
- Pro: No hidden fees approach
- Pro: Integrates with business tools
- Pro: Easy account setup
- Pro: Mobile-first banking
Weaknesses
- Con: Limited to US businesses
- Con: No physical branch locations
- Con: Feature set still evolving
- Con: Deposit and transfer limits
- Con: May not suit all business needs
Key features
Oxygen
Banking services for small businesses and entrepreneurs, currently undergoing new initiatives.
Strengths
- Pro: Historically served a large user base (250K+ monthly active users)
- Pro: Supported significant card swipe revenue ($550k/month)
- Pro: Backed by a proven leadership team and significant investment ($20M round)
Weaknesses
- Con: Services are currently unavailable
- Con: Specific future initiatives are not yet detailed
Key features
Pricing: Novo vs Oxygen
| Plan | Novo | Oxygen |
|---|---|---|
| Tier 1 | Free Free | N/A |
Pricing verified from each vendor's public pricing page. Compare in detail on Novo pricing and Oxygen pricing.
Key Takeaways
Novo
- Larger review base (4,812 reviews)
- Free tier available
- Our pick for this comparison
Oxygen
- Higher user rating: 4.4/5 vs 4.0/5
The Bottom Line
Novo wins this matchup. BILL ranks #1 on our Invoicing list. Perk is our free Invoicing pick.
Frequently Asked Questions
Is Novo or Oxygen better in 2026?
Novo wins this matchup. BILL ranks #1 on our Invoicing list. Perk is our free Invoicing pick. Pick Novo for finance workflows (main strength: business banking for small businesses). Pick Oxygen for finance workflows (main strength: historically served a large user base (250K+ monthly active users)).
What are Novo and Oxygen used for?
Novo: Smarter online business banking solutions for small businesses and self-employed entrepreneurs. Oxygen: Banking services for small businesses and entrepreneurs, currently undergoing new initiatives.
What does Novo cost vs Oxygen?
Novo pricing is on their site. Oxygen pricing is on their site.
What's the main difference between Novo and Oxygen?
Novo's main strength: business banking for small businesses. Oxygen's main strength: historically served a large user base (250K+ monthly active users).