Varo Bank Announces $510 Million Growth Funding Round, Promising Future Ahead

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Varo Bank recently closed a giant funding round for growth.

On the morning of September 9th, 2021, Varo Bank announced the closing of $510 Series E funding. This funding round was led by Lone Pine Capital. Other funders include the investment firms Declaration Partners, Eldridge, BlackRock, The Rise Fund, Gallatin Point Capital, HarbourVest Partners, and more. At the closing of this round of funding, Varo Bank reached a valuation totaling $2.5 billion. 

About Varo Bank

Varo Bank is an online banking app that functions entirely on mobile devices. It allows their customers to create online bank accounts and saving accounts, just like a traditional bank. Calling itself “a bank for all of us”, Varo Bank prides itself on its UX design, technology, and customer benefits. Some of such benefits include no minimum balance requirement, no monthly...

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