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Varo has raised $123.9 million in a Series G funding round, aimed at expanding its operations and growing its user base. The funding round was completed in February 2026, led by various investors.
PRIVATEMay 17, 2026•3 months ago
Amount Raised
$124 Million
Round Type
Series G+
San FranciscoFinancial ServicesFinanceFintechLendingBanking
Description
Varo has officially announced it raised a $123.9 million Series G round in February 2026. The funding will help Varo enhance its marketing efforts and expand its customer base. Since the new CEO took over, the company’s accounts grew from 5.1 million to nearly 7.7 million. Varo's strategic direction focuses on leveraging this funding for better service delivery.
Company Information
Company
Varo
Location
San Francisco, California, United States
About
Varo is a fintech company that became the first-ever all-digital nationally chartered consumer bank in the U.S. after obtaining its national bank charter in 2020. The company has raised over $1 billion in funding since its inception in 2015, aiming to promote financial inclusion. Recently, it has faced challenges in fundraising and profitability, reporting a significant loss as of early 2024. With a new CEO appointed, Varo is poised for a new phase of growth and development.
San FranciscoFinancial ServicesFinanceFintechLendingBanking