Varo Bank

26 results about this entity

Period: 18 Jan 2018 - 26 Mar 2024

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/retail

Varo adds line of credit product

Varo Bank, N.A., the first nationally-chartered consumer techbank in the U.S., today announced the introduction of two new products designed to help Americans relieve growing financial pressure.

Varo Bank launches no fee payments feature “Varo for Everyone”

/payments

Varo Bank launches no fee payments feature “Varo for Everyone”

Varo Bank has announced a new free instant payments feature called Varo for Everyone that will allow those with a US debit card to make quick and easy money transfers.

/people

Varo Bank hires Sachin Shetty as CTO

Varo Bank, N.A., the first all-digital, nationally chartered consumer techbank in the U.S., today announced the appointment of Sachin Shetty as Chief Technology Officer and Lisa Violet as Senior Vice President, Strategic Partnerships.

Varo bank raising $50 million at 28% discount

/retail

Varo bank raising $50 million at 28% discount

Varo, a US neobank with a national bank charter, is looking to raise $50 million in capital at a 28% discount on its last valuation.

/people

Varo Bank names Wook Chung chief product officer

Varo Bank, N.A., the first all-digital, nationally chartered consumer techbank in the U.S., announced the appointment of Wook Chung as Chief Product Officer.

/payments

Varo adds Zelle access

Today, Varo Bank — the first all-digital, nationally-chartered U.S. consumer built from the ground up techbank — announced that it will offer Zelle® in its mobile banking app. Zelle® is a safe way to send and receive money with friends, family, and small businesses you trust.

Varo Bank’s proposal to reform the CRA champions financial inclusion

/regulation

Varo Bank’s proposal to reform the CRA champions financial inclusion

The Community Reinvestment Act (CRA) was created in order to ensure that the credit needs of lower income communities in the US were accommodated by local financial institutions. However, many financial firms are proposing a reform of this act to be more inclusive of low and moderate income communities.

Varo Bank cuts 75 jobs

/retail

Varo Bank cuts 75 jobs

Varo Bank has become the latest fintech player to make job cuts, axing 75 positions as it looks to cut costs in the face of worsening economic conditions.

/people

Spencer Rascoff joins Varo Bank board

Varo Bank, N.A., the first all-digital, nationally chartered bank in the U.S., today announced the appointment of Spencer Rascoff, Co-Founder and former CEO of Zillow to Varo's Board of Directors.

/people

Varo names Jon Alferness chief product officer

Varo Bank, N.A., the first all-digital, nationally chartered bank in the U.S, today announced the appointment of Jon Alferness as its new Chief Product Officer.

Varo Bank raises $510m

/startups

Varo Bank raises $510m

American digital lender Varo Bank has raised $510 million in an oversubscribed funding round led by Lone Pine Capital.

/people

Varo Bank makes exec hires

Varo Bank, the first all-digital nationally chartered bank in the US, today announced three new appointments to its executive leadership team, including Shishir Singhania as Chief Lending Officer, Pepe Porrata as Chief Operations Officer, and Carolyn Feinstein as Chief Marketing, Growth, and Design Officer.

/inclusion

Varo Bank unveils credit building card programme

Varo Bank, the first all-digital nationally chartered bank in the US, today introduced the Varo Believe Program, an innovative credit building product that includes a Visa credit card and credit monitoring.

NBA star Westbrook invests in Varo Bank

/inclusion

NBA star Westbrook invests in Varo Bank

Varo Bank has raised $63 million in a funding round led by NBA basketball star Russell Westbrook, who will also help the digital lender create a social impact programme.

/retail

Varo Bank introduces cash advances

Varo Bank, the only digital national bank, is introducing Varo Advance, an innovative product that instantly advances up to $100 to qualifying customers and gives customers more flexibility and control over their finances.

/cloud

Varo goes live on Temenos core platform

Temenos (SIX: TEMN), the banking software company, today announced that its cloud-native technology platform has gone live with Varo Bank, N.A. (“Varo”). Varo, the first consumer fintech granted a national bank charter in the US, is using Temenos Transact as its core banking technology.

Varo Money granted national bank charter

/regulation

Varo Money granted national bank charter

Varo Money has become the first US consumer fintech firm to be granted a national bank charter, enabling the digital challenger to offer a full suite of FDIC-insured services.

Varo Money raises $241m

/startups

Varo Money raises $241m

As it closes in on a national bank charter, San Francisco-based mobile banking startup Varo Money has raised $241 million in a Series D funding round.

Moven customers to transition to Varo

/retail

Moven customers to transition to Varo

San Francisco-based mobile banking startup Varo Money is taking on the customers of Moven, which recently decided to shut down its direct-to-consumer offering.

/regulation

Varo Money clears final hurdle for national charter

Mobile banking company Varo Money, Inc. today announced a significant step in its application process for a national bank charter, with approval from the Federal Deposit Insurance Corporation (FDIC) for deposit insurance.

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