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Challenger bank Varo, soon to become a real bank, raises $241M Series D

June 3, 2020

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Mobile banking startup Varo Money has raised an additional $241 million in Series D funding, the company announced today. The investment was co-led by new investor Gallatin Point Capital and existing investor The Rise Fund, co-founded by TPG. Also participating in the round were Bono (yes, that one), along with entrepreneur, impact investor and movie producer Jeff Skoll; plus HarbourVest Partners and Progressive Insurance. To date, Varo has raised $419.4 million in funding. Launched in July 2017, Varo is now one of several digital banking apps that are taking on traditional…

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Challenger bank Varo, soon to become a real bank, raises $241M Series D

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