Varo Raises $241 Million Series D as it Moves Closer to Being the First Fintech to Become a National Bank
Varo Raises $241 Million Series D as it Moves Closer to Being the First Fintech to Become a National Bank
06/03/20, 4:19 PM
Location
san franciscoMoney raised
$241 million
Industry
financial services
Round Type
series d
Mobile banking company Varo Money, Inc. today announced it has closed a $241 million USD Series D round, co-led by new investor Gallatin Point Capital and existing investor The Rise Fund, co-founded by TPG, U2 lead singer Bono and Jeff Skoll, a global entrepreneur, impact investor and movie producer. Other new investors joining the round include HarbourVest Partners and Progressive Insurance. J.P
Company Info
Location
san francisco, california, united states
Additional Info
Varo Bank, N.A. is the first nationally-chartered consumer techbank in the U.S., focused on the needs of Americans living paycheck to paycheck. Varo combines the capabilities and nimbleness of a technology company with the security and oversight of a regulated financial institution, enabling agile product design that provides technology-first solutions.