Varo Bank triples valuation to $2.5 billion after gaining bank charter

Varo Bank, a digital bank that last year became the first neobank in the U.S. to be granted a national bank charter announced Tuesday morning that it raised $510 million in a Series E round led by hedge fund Lone Pine Capital and including dozens of new and existing investors. According to sources, the company valuation increased to $2.5 billion from around $700 million after its earlier fundraising. 

CEO, Walsh said, the company has doubled its number of opened accounts to four million and tripled its revenue in the 13th month after getting its charter.

  • doverto loperte
    October 27, 2021 - 8:22 pm

    Hi, just required you to know I he added your site to my Google bookmarks due to your layout. But seriously, I believe your internet site has 1 in the freshest theme I??ve came across. It extremely helps make reading your blog significantly easier.

    0Vote Up0Vote Down
  • check this site out
    October 29, 2021 - 8:31 pm

    Hello! I just would like to give a huge thumbs up for the great info you have here on this post. I will be coming back to your blog for more soon.

    0Vote Up0Vote Down

Your email address will not be published.


Sign up to receive our weekly email newsletter and never miss an update!