Headquarters: San Francisco, California, USA
Founded: November 2015
Founder(s): Assaf Guery, Colin Walsh, Mykola Klymenko, Roger Van Duinen
Notable Investors: BlackRock, Bono (Paul Hewson), Lone Pine Capital, Russel Westbrook Enterprises, Warburg Pincus
Varo Money, Inc. is a mobile-only neobank based in San Francisco, California. Varo aims to help consumers gain control over their financial lives and develop positive spending, borrowing and savings habits, and is largely pursuing the underserved and unbanked US market, where minorities are left out of the banking system. Through its mobile app, Varo’s 24/7 digital financial coach delivers insights and analysis on spending, as well as real-time budgeting features.
With Varo, there’s nothing stopping you from getting ahead. Joining Varo is free, safe, and easy. The Varo Bank account has no credit check, no minimum balance, no monthly fees, no overdraft fees, and over 55 thousand fee-free Allpoint ATMs in places with high footfall such as Target, CVS, and Safeway.
Varo believes that Banking is for everyone. Every person, regardless of net worth, should be treated fairly by a bank that wants them to succeed. Varo has no tolerance for discrimination of any sort, and believes banks should be a force for good.
“We’re building a bank from the ground up to improve the financial health of our customers through better technology and total transparency. From the start, our team has paired banking veterans with tech experts to build a mobile-only bank account that makes smart financial choices easy.”Colin Walsh, CEO and Co-Founder