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Varo Bank logo — We're on a mission to bring financial inclusion and opportun...

Varo Bank

We're on a mission to bring financial inclusion and opportunity to all.

Founded 2015 United States San Francisco, United States 402 employees Series G Total: $1.07B Financial Services, Fintech +1

General Information

Company Name Varo Bank
Founded Year 2015
Location United States San Francisco, United States
Founders / Decision Makers
Team member
Employees 402
Industries Financial Services, Fintech, Banking
Funding Stage Series G
Business Model B2C, Freemium, Platform
Revenue Model Transaction Fee, Freemium, Tiered Pricing
Hiring 16 roles posted in the month to 30 Oct 2026
Offices as of Oct 2026
San Francisco, United States Draper, United States Charlotte, United States
Social

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How does Varo Bank compare?

A PDF of Varo Bank and up to 10 competitors you pick: team, funding, traffic and every dated move of the last 90 days. Each company is re-checked on the day you order, so it is current.

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A one-page PDF brief: what it does, key facts, the last 90 days of dated moves and questions worth asking. Re-checked on the day you order. See a sample

Recorded by Bounce Watch from public sources. Every entry below carries the date we observed it, and when we have not looked recently the page says so rather than leaving silence to imply nothing happened.

Actively Hiring Oct 15, 2026

Hiring for 16 positions in the last 30 days.

Event Participation Oct 09, 2026

Varo Bank's GM Claudia Richter spoke at Decagon Dialogues about AI in fintech.

Varo Bank a competitor of yours? Have our desk watch it

AI Insight

Bounce Watch AI
1 month ago

Varo Bank is undergoing a strategic evolution, marked by a substantial 51% website update in October 2026, signaling potential product enhancements or a brand repositioning. Concurrently, the bank is reinforcing its mission of financial inclusion through a new partnership for educational workshops and maintaining thought leadership, as exemplified by its CTO's event participation. These dynamic shifts suggest a concerted effort to refine its offerings and deepen community engagement.

Signal Types
Product Update Business Development Community Engagement Thought Leadership
Strategic Labels
Product Enhancement Strategic Repositioning Social Impact
Next Move: Product Launch
·
Impact: 7/10
·
Ideal For: Late-Stage Fintech Investors — Growth Equity

About Varo Bank

Varo Bank is a digital bank based in San Francisco, United States, offering services designed for the modern consumer. Specializing in financial services and fintech, Varo Bank caters to individuals seeking fee-free banking and early access to paychecks, among other needs.

Founded in 2015, Varo Bank provides a range of services, including free bank accounts, Varo Advance, Believe Credit-Builder Card, high-APY savings accounts, and Zelle transfers. The bank operates on a B2C platform with a freemium business model, earning revenue through transaction fees, freemium offerings, and tiered pricing. Its focus on financial inclusion and mobile banking is supported by a team blending banking and technology expertise.

Business keywords: Financial Inclusion, Digital Banking, Mobile Banking, High-yield Savings, Mobile App Development, User Interface, FDIC Insured, OCC Chartered Bank, Banking Technology, Automatic Saving Tools, No-cost Premium Bank Accounts, Tech-driven Financial Services

Services & Products

Free Bank Account
Varo Advance
Believe Credit-Builder Card
High-APY Savings Account
Zelle Transfers

Target Customers

Individuals seeking fee-free banking Customers needing early access to paychecks People looking to build or improve credit Users interested in cash advances

Funding Rounds & Investors (10)

View All
Funding Stage Amount Investors Lead Investors Date
Series G $28.98M -
18 Feb 2025
Venture Round $50.00M 1
Warburg Pincus
Warburg Pincus
01 Feb 2023
Series E $510.00M 10
HarbourVest Partners The Rise Fund Warburg Pincus
HarbourVest Partners, The Rise Fund +8
09 Sep 2021
Corporate Round $63.00M 1
Russell Westbrook Enterprises
18 Feb 2021
Series D $241.00M 10
Gaingels HarbourVest Partners The Rise Fund
Gaingels, HarbourVest Partners +8
03 Jun 2020
Series C $100.00M 4
Gaingels The Rise Fund Warburg Pincus
Gaingels, The Rise Fund +2
16 Jul 2019
Series B $45.00M 4
Gaingels The Rise Fund Warburg Pincus
Gaingels, The Rise Fund +2
18 Jan 2018
Debt Financing $5.00M 1
Silicon Valley Bank
15 Jan 2017
Series A $28.40M 1
Warburg Pincus
Warburg Pincus
02 May 2016
Seed Round Undisclosed 1
Michael Sikorsky
05 Apr 2015

Latest News

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Kaaj: $3.8 Million Seed Funding Closed To Advance Agentic AI Credit Intelligence Platform — Pulse2.com
Kaaj: $3.8 Million Seed Funding Closed To Advance Agentic AI Credit Intelligence Platform
Pulse2.com Nov 20, 2025
Kaaj Nets $3.8 Mn To Automate Small Business Lending — Inc42.com
Kaaj Nets $3.8 Mn To Automate Small Business Lending
Inc42.com Nov 20, 2025
Kaaj raises $3.8M to automate small business loan underwriting — Techbuzz.ai
Kaaj raises $3.8M to automate small business loan underwriting
Techbuzz.ai Nov 19, 2025
Kaaj raises $3.8M to automate credit risk assessment with AI — Mezha.net
Kaaj raises $3.8M to automate credit risk assessment with AI
Mezha.net Nov 19, 2025

Varo Bank Alternatives & Competitors

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Varo Bank vs
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Varo Bank vs
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FAQ About Varo Bank

We're on a mission to bring financial inclusion and opportunity to all.
Varo Bank was founded in 2015.
Varo Bank is headquartered in San Francisco, United States. As of Oct 2026, it also has offices in Draper, United States and Charlotte, United States.
Varo Bank operates in Financial Services, Fintech and Banking. Its work centres on Financial Inclusion, Digital Banking, Mobile Banking and High-yield Savings. Its customers include Individuals seeking fee-free banking, Customers needing early access to paychecks and People looking to build or improve credit.
Varo Bank has a B2C, Freemium and Platform business model. Its revenue comes from Transaction Fee, Freemium and Tiered Pricing.
Varo Bank has approximately 402 employees.
Varo Bank has completed 10 funding rounds, raising a total of $1.07B. The latest funding stage is Series G.
Varo Bank offers: Free Bank Account, Varo Advance, Believe Credit-Builder Card, High-APY Savings Account, Zelle Transfers.
Top alternatives and competitors to Varo Bank include FairMoney, OnePay, Chime, Dave, Current. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Varo Bank and FairMoney are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Varo Bank, https://bouncewatch.com/company/varo-bank, updated 30 October 2026. When citing, please name BounceWatch and link this page.

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