Varo
Founded Year
2015Stage
Series E - II | AliveTotal Raised
$1.041BValuation
$0000Last Raised
$50M | 2 yrs agoMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-9 points in the past 30 days
About Varo
Varo is a digital bank that focuses on providing premium banking services through a mobile app. The company offers access to high-yield savings accounts, quicker access to funds, and automatic saving tools without the need for physical branches. Varo serves customers seeking convenient and modern banking solutions. Varo was formerly known as Ascendit Holdings. It was founded in 2015 and is based in San Francisco, California.
Loading...
Varo's Products & Differentiators
Varo checking
standard checking acct
Loading...
Research containing Varo
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Varo in 1 CB Insights research brief, most recently on Nov 17, 2022.
Expert Collections containing Varo
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Varo is included in 6 Expert Collections, including Unicorns- Billion Dollar Startups.
Unicorns- Billion Dollar Startups
1,257 items
Financial Wellness
245 items
Track startups and capture company information and workflow.
Fintech
9,394 items
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Fintech 100
749 items
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
Digital Banking
1,059 items
Challenger bank offer digitally native banking products (checking and savings account at the most basic) and either leverage partner banks or are fully-licensed banks themselves.
Tech IPO Pipeline
257 items
The tech companies we think could hit the public markets next, according to CB Insights data.
Varo Patents
Varo has filed 1 patent.
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
9/12/2018 | 11/28/2023 | Boilers, Papermaking, Cleaning tools, Sanitation, Chemical processes | Grant |
Application Date | 9/12/2018 |
|---|---|
Grant Date | 11/28/2023 |
Title | |
Related Topics | Boilers, Papermaking, Cleaning tools, Sanitation, Chemical processes |
Status | Grant |
Latest Varo News
Dec 23, 2024
Share this post: Varo Bank , the first all-digital nationally chartered bank in the U.S., has announced a collaboration with Green Dot Corporation (NYSE: GDOT) and CVS Health (NYSE: CVS) to enable deposits for no fee for millions of Varo Bank customers at over 7,500 participating CVS Pharmacy locations nationwide.1 Utilizing Green Dot’s embedded finance platform (Arc) and expansive money movement network, the “Green Dot Network,” Varo customers can now deposit cash at participating CVS Pharmacy locations with zero fees. For customers who deposit cash regularly, this means saving $120 or more per year. Traditional banks often charge fees unless customers maintain specified minimum balances in their accounts or meet monthly direct deposit requirements. In addition, unlike fintech companies that must work through partner banks to set their fee policies, Varo’s charter enables the bank to offer preferential fees and products to its customers. “As an all-digital bank, Varo is creating low-cost financial solutions designed specifically for the needs of everyday Americans,” said Colin Walsh, Chief Executive Officer at Varo Bank. “This Green Dot collaboration at participating CVS Pharmacy locations eliminates cash deposit fees, making basic banking more convenient and affordable.” Varo customers have access to a suite of primary banking products that support their financial stability and wellness, including: Zero bank fees: No monthly, minimum balance, transfer, or overdraft fees Free cash deposits at 7,500+ CVS Pharmacy locations Free withdrawals at 40,000+ Allpoint® ATMs nationwide 2-day early payday with direct deposits Automatic cash back rewards on purchases Ability to qualify for Varo Advance and Varo Line of Credit over time “We are thrilled to work with Varo and CVS Pharmacy to make banking accessible to millions of American consumers,” said Crystal Bryant-Minter, SVP, Money Movement at Green Dot. “With more than 20 years’ experience delivering seamless banking and payment solutions to consumers and businesses, Arc by Green Dot powers some of the world’s most trusted brands and thousands of other businesses at all stages of growth with seamless, secure and useful financial tools and experiences.” People In This Post News News News News Fintech
Varo Frequently Asked Questions (FAQ)
When was Varo founded?
Varo was founded in 2015.
Where is Varo's headquarters?
Varo's headquarters is located at 222 Kearny Street, San Francisco.
What is Varo's latest funding round?
Varo's latest funding round is Series E - II.
How much did Varo raise?
Varo raised a total of $1.041B.
Who are the investors of Varo?
Investors of Varo include Warburg Pincus, The Rise Fund, HarbourVest Partners, Gallatin Point Capital, BlackRock and 13 more.
Who are Varo's competitors?
Competitors of Varo include MoneyLion, Lunar, Monzo, Atom Bank, Novo and 7 more.
What products does Varo offer?
Varo's products include Varo checking and 1 more.
Loading...
Compare Varo to Competitors
Chime is a financial technology company. The company offers banking services such as checking and savings accounts, credit building, and fee-free overdrafts, all aimed at making financial management easy and accessible for everyday people. Its primary customer base includes everyday Americans who are not well-served by traditional banks. The company was founded in 2012 and is based in San Francisco, California.
ONE serves as a financial technology company that provides banking services through a digital platform. The company offers services including debit rewards, credit score monitoring, credit building loans, and savings accounts. ONE serves individuals looking to manage finances. ONE was formerly known as Even. It was founded in 2022 and is based in New York, New York.
Tandem Bank provides digital banking services in the financial sector. The company offers financial products including savings accounts, green home improvement loans, energy-efficient mortgages, and motor finance for eco-friendly vehicles. Tandem Bank serves individuals making environmentally conscious financial decisions. It was founded in 2013 and is based in Blackpool, England.
Moven provides digital banking experiences within the financial technology sector. The company offers digital banking solutions, including financial wellness tools, customer engagement analytics, and personalized insights for financial institutions. Moven primarily serves banks, credit unions, and fintech companies aiming at their digital offerings and customer engagement. It was founded in 2010 and is based in New York, New York.
Atom Bank is a financial institution that provides an online banking platform focusing on personal and business banking services. The company offers savings accounts, residential and commercial mortgages, and business loans. It primarily serves individuals looking for savings options and businesses seeking financing solutions. Atom Bank was founded in 2014 and is based in Durham, United Kingdom.
Bancacao is a developer of banking products. The company's Tzune is a digital financial services platform that offers fair, contactless, and personal solutions.
Loading...