numo arrived on Pittsburgh’s tech scene in 2017 as an independent subsidiary startup unlike any others. The company is an independent subsidiary of PNC Bank.
As Dave Passavant, CEO, tells it, “numo is part startup, part corporate innovation lab and part tech incubator. The company draws from each of these areas in ways that are one-of-a-kind modes for discovering new-product ideas and new companies.”
Two products developed by numo thus far include indi and Chart. indi is smart banking for independent workers. Users can bank on the go, save for taxes and track expenses—all in one app. numo created indi to address challenges that are unique to freelancers in today’s gig economy. indi helps 1099 workers bank smarter and be better prepared come tax time with one account right in their pockets.
Chart is a smart, retail real-estate enterprise software in an omnichannel world. As the industry undergoes massive shifts, this software helps users understand the value of retail space and predict what’s ahead.
Real estate owner/operators and retail brands are limited by data that’s not accessible or labor intensive to process. Chart brings together a full spectrum of sought-after data and uncovers patterns and trends to help users make insight-driven decisions.
numo’s venture team uncovers and articulates new-project opportunities like these, and the team also explores unsolved business problems through the aid of emerging technologies.
“Our product team,” Passavant emphasizes, “is a cross-disciplinary group featuring deep skill sets in product management, experience design, consumer research, entrepreneurship and behavior change.” He adds that “strategic planning helps to find opportunities rapidly, validate assumptions and collaboratively iterate our world to build fast and challenge thinking as we move forward.”
Passavant emphasized the good fortune of starting from a clean slate and being able to use the best and greatest frameworks and tools. “We work,” he says, “with excellent teams of product managers and designers on a variety of interesting projects.”
“Looking to the remainder of 2020,” Passavant points out, “we hope to have created a new company by year’s end or even before that.”