Digital Bank Varo Closes $241m Series D

Varo is inching closer to becoming a fully regulated digital bank; they have closed a new funding round, a $241 million Series D, which puts them in a very strong position now; they needed $104 million in equity capital to gain the banking charter, so this funding gives them a big buffer to meet that; Varo is in the final stages of approval for their charter which the company expects to receive as early as this summer; as banking has become more digital due to the pandemic companies like Varo are thriving; Colin Walsh, CEO and founder, said, “Since the onset of COVID we’ve seen an acceleration of consumers adopting digital banking. There’s been a huge surge in deposits, a huge surge in payment activity, and a surge in customer accounts.” Forbes

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.