Investments

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Strategy:
Equity Strategies

Sector:
Banking

Transaction Type:
Growth

Status:
Current

Investment Year:
2020

Geography:
United States

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Varo Bank

Varo Bank is on a mission to make financial opportunity more accessible to more people, by arming them with the products and support they need to create healthy financial habits and reduce financial stress. Through its mobile app, Varo Bank offers customers premium bank accounts that have no minimum balance requirement or monthly account fee, high-interest savings accounts, and tech-first features to help people save and manage their money more easily. Varo Bank is the first consumer fintech to be granted a national bank charter by the Office of the Comptroller of the Currency.

In June 2020, Gallatin Point co-led Varo’s Series D fundraising round to support its strategic growth initiatives.

“Gallatin Point is an ideal partner as Varo enters its next stage of growth as a nationally-chartered bank. Their comprehensive understanding of the financial services industry and regulatory landscape, combined with their collaborative and customer-focused approach, is helping us to build enormous value for all Varo stakeholders.”
Colin Walsh, CEO of Varo
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