Fundraising Fox

Varo

San Francisco, US · Delaware corporation · 11 known investors

varomoney.com ↗

Varo is a digital bank offering FDIC-insured deposits, no-fee checking accounts, early direct deposit, credit-building cards, and cash advances to U.S. consumers. The company serves hardworking Americans seeking financial inclusion and opportunity through accessible banking products.

Fintechin /varobank@varobank

Founders & leadership

CW
Colin WalshDirector
GMGavin Michael
Gavin MichaelCEO
RO
Rishi OberoiExecutive Officer
MG
Marina GraciasExecutive Officer
EG
Elizabeth GilsonExecutive Officer
DC
David CoulterDirector
MC
Maya ChorengelDirector
CD
Cary DavisDirector
KW
Karen WhiteDirector
AF
Amy FriendDirector
AM
Alice MilliganDirector
KW
Kevin WattersDirector

Investors · 11

Declaration PartnersNew York
Evolution VC PartnersNew York
Gallatin Point CapitalGreenwich · $50M – $200M
InvestXVancouver
Next Legacy PartnersPortola Valley
PROOFArlington
Raptor GroupMiami Beachvia Jim Pallotta · inferred
Stack CapitalToronto
Warburg PincusNew York
75 & SunnyreportedLos Angeles · $100K – $5M
Elevar EquityreportedBengaluru · $1M – $10Mvia Maya Chorengel · board

Reported raises · per SEC filings

Form D private placements
▶$123.9MraisedFeb 2026 · 18 investors · Other Banking and Financial Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Karen WhiteDirector
  • Amy FriendDirector
  • Colin WalshDirector
  • David CoulterDirector
  • Gavin MichaelDirector, Executive Officer
  • Alice MilliganDirector
  • Rishi OberoiExecutive Officer
  • Maya ChorengelDirector
  • Kevin WattersDirector
  • Marina GraciasExecutive Officer
  • Caryl AthanasiuDirector
  • Cary DavisDirector
Offering amount
$155M
Amount sold
$123.9M
Sales commissions
$407.4K
Placement agents
FTP Securities
First sale
Jan 2025
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$509.8MraisedSep 2021 · 145 investors · Other Banking and Financial Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Colin WalshExecutive Officer, Director
  • Amy FriendDirector
  • Thibault FulconisExecutive Officer
  • Caryl AthanasiuDirector
  • Roy SwanDirector
  • Karen WhiteDirector
  • Cary DavisDirector
  • Lewis SachsDirector
  • Mariana GraciasExecutive Officer
  • David CoulterDirector
  • Maya ChorengelDirector
Offering amount
$520M
Amount sold
$509.8M
Sales commissions
$20.8M
Placement agents
FTP Securities, LLC
First sale
Jul 2021
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$62.8MraisedFeb 2021 · 33 investors · Other Banking and Financial Services
Rule 506(b)
Varo Bank raises another $63M, led by NBA star Russell Westbrooktechcrunch.com · Feb 2021
Officers, directors & promoters on the filing
  • Colin WalshExecutive Officer, Director
  • Karen WhiteDirector
  • Lewis SachsDirector
  • Amy FriendDirector
  • Maya ChorengelDirector
  • Thibault FulconisExecutive Officer, Director
  • Marina GraciasExecutive Officer
  • Caryl AthanasiuDirector
  • Cary DavisDirector
  • David CoulterDirector
Offering amount
$65M
Amount sold
$62.8M
Sales commissions
$200K
Placement agents
FTP Securities, LLC
First sale
Feb 2021
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$240.9MraisedJun 2020 · 122 investors · Other Banking and Financial Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Todd SchellDirector
  • Thibault FulconisExecutive Officer
  • Karen WhiteDirector
  • David CoulterDirector
  • Marina GraciasExecutive Officer
  • Cary DavisDirector
  • Maya ChorengelDirector
  • Caryl AthanasiuDirector
  • Colin WalshExecutive Officer, Director
  • Amy FriendDirector
Offering amount
$280M
Amount sold
$240.9M
Sales commissions
$6.2M
Placement agents
J.P. Morgan Securities, LLC
First sale
Dec 2019
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$65MraisedJan 2019 · 7 investors · Other Banking and Financial Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Colin WalshExecutive Officer, Director
  • Thibault FulconisExecutive Officer
  • Maya ChorengelDirector
  • Cary DavisDirector
  • Karen WhiteDirector
  • Marina GraciasExecutive Officer
  • Caryl AthanasiuDirector
  • David CoulterDirector
Offering amount
$100M
Amount sold
$65M
Sales commissions
$893.8K
Placement agents
Barclays Capital, Inc.
First sale
Dec 2018
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$38.1MraisedJan 2018 · 38 investors · Other Banking and Financial Services
Rule 506(b)
Officers, directors & promoters on the filing
  • David CoulterDirector
  • Cary DavisDirector
  • Caryl AthanasiuDirector
  • Elizabeth GilsonExecutive Officer
  • Karen WhiteDirector
  • Colin WalshExecutive Officer, Director
  • Marina GraciasExecutive Officer
Offering amount
$45M
Amount sold
$38.1M
First sale
Jan 2018
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$5.3MraisedNov 2016 · 16 investors · Other Banking and Financial Services
Rule 506(b)
Officers, directors & promoters on the filing
  • David CoulterDirector
  • Kevin MossDirector
  • Colin WalshExecutive Officer, Director
  • Cary DavisDirector
  • Marina GraciasExecutive Officer
Offering amount
$16M
Amount sold
$5.3M
First sale
Nov 2016
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$12.1MraisedMay 2016 · 28 investors · Other Banking and Financial Services
Rule 506(b)
Officers, directors & promoters on the filing
  • Cary DavisDirector
  • David CoulterDirector
  • Colin WalshExecutive Officer, Director
  • Donald Van de MarkDirector
Offering amount
$12.1M
Amount sold
$12.1M
Minimum investment
$10K
Proceeds to insiders
$150K
First sale
Apr 2016
Incorporated
Corporation, Delaware, 2015
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

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