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Varo Snares $510M Funding Round

2021-09-10
SAN FRANCISCO, CA, Varo, an all-digital bank, has closed a $510 million oversubscribed funding round led by new investor Lone Pine Capital.
SAN FRANCISCO, CA, Varo Bank, an all-digital, nationally chartered bank, announced it closed a $510 million oversubscribed funding round. The round was led by new investor Lone Pine Capital, who was joined by dozens of additional new investors including Declaration Partners, Eldridge, Marshall Wace, Berkshire Partners/ Stockbridge, and funds and accounts managed by BlackRock.

These new investors add to a distinguished group of existing investors who have also participated in the round including Warburg Pincus, The Rise Fund, Gallatin Point Capital, and HarbourVest Partners.
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