Varo Overview

  • Year Founded
  • 2015

Year Founded

  • Status
  • Private

  • Employees
  • 507

Employees

  • Latest Deal Type
  • Later Stage VC

  • Latest Deal Amount
  • $29M

  • Investors
  • 51

Varo General Information

Description

Developer of a financial platform intended to improve the mobile banking experience and provide banking services. The company's platform offers various services including financial insights and analysis of spending, real-time budgeting and predictive forecasts of cash flow, making a direct deposit, and online bill payment, and also offers access to other financial applications, enabling users to make smart financial decisions and progress.

Contact Information

Website
www.varomoney.com
Formerly Known As
Ascendit Holdings
Ownership Status
Privately Held (backing)
Financing Status
Venture Capital-Backed
Corporate Office
  • 222 Kearny Street
  • Suite 9
  • San Francisco, CA 94108
  • United States
+1 (877)
Primary Industry
Other Commercial Banks
Other Industries
Financial Software
Vertical(s)
TMT, FinTech, Mobile
Corporate Office
  • 222 Kearny Street
  • Suite 9
  • San Francisco, CA 94108
  • United States
+1 (877)

Varo Timeline

2022202320242025
Financing RoundCaptured Employee CountEstimated Employee Growth

Want detailed data on 3M+ companies?

What you see here scratches the surface

Request a free trial

Want to dig into this profile?

We’ll help you find what you need

Learn more

Varo Valuation & Funding

Deal Type Date Amount Raised to Date Post-Val Status Stage
10. Later Stage VC 14-Feb-2025 $29M Completed Generating Revenue
9. Secondary Transaction - Private Completed Generating Revenue
8. Later Stage VC 01-Mar-2023 Completed Generating Revenue
7. Later Stage VC (Series E) 03-Sep-2021 Completed Generating Revenue
6. Later Stage VC (Series D1) 17-Feb-2021 Completed Generating Revenue
5. Later Stage VC (Series D) 04-May-2020 Completed Generating Revenue
4. Later Stage VC (Series C1) 16-Jul-2019 Completed Generating Revenue
3. Early Stage VC (Series B) 18-Jan-2018 Completed Generating Revenue
2. Early Stage VC 08-Nov-2016 $5.33M $33.3M Completed Generating Revenue
1. Early Stage VC (Series A) 02-May-2016 $28M $28M Completed Generating Revenue
To view Varo’s complete valuation and funding history, request access »

Varo Cap Table

Stock # of Shares
Authorized		 Par Value Dividend Rate (%) Original
Issue Price		 Liquidation Liquidation
Pref. Multiple		 Conversion Price % Owned
Series D1
Series D2
Series C2
Series C1
Series B2
Series B1
Series A2 3,300,000 $0.000010 $5.2 $5.2 $1.04 10.99%
Series A1 4,000,000 $0.000010 $3.46 $3.46 $0.69 13.32%
To view Varo’s complete cap table history, request access »

VC Exit Predictor

See how our proprietary methodology utilizes historical data sets to synthesize the likelihood of an acquisition, IPO, or no exit event. Get a detailed look at the calculations behind our predictions.

Opportunity Score

Calculated using Exit Type probabilities, the company’s stage, and PitchBook’s historical returns data.

Exit Type

Evaluates the likelihood of a successful exit for investors, and the most likely exit type.

Request a free trial

Varo Comparisons

Description
Primary
Industry
HQ Location
Employees
Total Raised
Post Valuation
Last
Financing
Details
Developer of a financial platform intended to improve the mobile banking experience and provide banking services. The co
Other Commercial Banks
San Francisco, CA
507 As of 2025

Berlin, Germany
 

New York, NY
 
Add Comparison

PitchBook’s comparison feature gives you a side-by-side look at key metrics for similar companies. Personalize which data points you want to see and create visualizations instantly.

Request a free trial

Varo Competitors (24)

One of Varo’s 24 competitors is N26, a Venture Capital-Backed company based in Berlin, Germany.

Company Name Financing Status Location Employees Total Raised Last Financing Date/Type Last Financing Amount
N26 Venture Capital-Backed Berlin, Germany
Current (Commercial Banks) Venture Capital-Backed New York, NY
Wealthfront Venture Capital-Backed Palo Alto, CA
FutureAdvisor Formerly VC-backed San Francisco, CA
MoneyLion Formerly VC-backed New York, NY
You’re viewing 5 of 24 competitors. Get the full list »

Varo Signals

Growth Rate

Weekly
Growth
Weekly Growth

Size Multiple

Median
Size Multiple

Key Data Points

Similarweb Unique Visitors

Majestic Referring Domains

PitchBook’s non-financial metrics help you gauge a company’s traction and growth using web presence and social reach.

Request a free trial

Varo Investors (51)

Investor Name Investor Type Holding Investor Since Participating Rounds
Acuity Partners Real Estate
CE Innovation Capital Venture Capital Minority
Ebridge Ventures Venture Capital Majority
Kwanza Jones & José E. Feliciano Supercharged Initiative Impact Investing Minority
Red Hook Capital PE/Buyout Minority
You’re viewing 5 of 51 investors. Get the full list »

Ready to get started?

Request a free trial

Varo FAQs

  • When was Varo founded?

    Varo was founded in 2015.

  • Where is Varo headquartered?

    Varo is headquartered in San Francisco, CA.

  • What is the size of Varo?

    Varo has 507 total employees.

  • What industry is Varo in?

    Varo’s primary industry is Other Commercial Banks.

  • Is Varo a private or public company?

    Varo is a Private company.

  • What is Varo’s current revenue?

    The current revenue for Varo is .

  • How much funding has Varo raised over time?

    Varo has raised $1.07B.

  • Who are Varo’s investors?

    Acuity Partners, CE Innovation Capital, Ebridge Ventures, Kwanza Jones & José E. Feliciano Supercharged Initiative, and Red Hook Capital are 5 of 51 investors who have invested in Varo.

  • Who are Varo’s competitors?

    N26, Current (Commercial Banks), Wealthfront, FutureAdvisor, and MoneyLion are some of the 24 competitors of Varo.

Data Transparency

  • Meet our data hygiene team

    Discover how our experts ensure you’re getting the most accurate financial data in the industry.

    Read blog »

  • How PitchBook sources data

    Our data operations team has logged over 3.5 million hours researching, organizing, and integrating the information you need most.

    Discover our process »