# Varo

**Source:** https://www.startuphub.ai/startups/varo
**Profile type:** Startup

> Varo Bank is a US-based all-digital, nationally chartered bank offering mobile-first banking services.

## About

Varo Bank is the first all-digital, nationally chartered bank in the U.S., founded in 2015. It offers mobile-first banking services including high-yield savings, fee-free checking, and consumer lending products, aiming to serve customers underserved by traditional banks. Varo leverages proprietary machine-learning models to broaden lending access and provides a technology-first customer experience with strong governance and risk discipline.

## Key facts

- **Slug:** varo
- **Website:** https://www.varomoney.com/
- **Location:** Salt Lake City, United States
- **Founded:** 2015-01-01
- **Employees:** 431
- **Operating status:** Active
- **Sectors / tags:** Fintech, Neobank, Digital Banking, Consumer Lending, Savings Accounts, Checking Accounts, Financial Inclusion
- **Social:**
  - LinkedIn: https://www.linkedin.com/company/varobank
  - Twitter: https://twitter.com/varobank
  - Facebook: https://www.facebook.com/varomoney

## Frequently asked

### What does Varo do?

Varo Bank is the first all-digital, nationally chartered bank in the U.S., founded in 2015. It offers mobile-first banking services including high-yield savings, fee-free checking, and consumer lending products, aiming to serve customers underserved by traditional banks. Varo leverages proprietary machine-learning models to broaden lending access and provides a technology-first customer experience with strong governance and risk discipline.

### What is Varo's revenue?

StartupHub estimates Varo's annual revenue at $135.6M (range $105.2M to $156.5M, 63% confidence), based on comparable companies in the sector.

### What is Varo's valuation?

StartupHub estimates Varo's effective valuation at $2.4B (range $1.7B to $3.1B, 42% confidence), based on comparable companies in the sector.

### Where is Varo headquartered?

Varo is headquartered in Salt Lake City, United States.

### When was Varo founded?

Varo was founded in 2015.

### What industry does Varo operate in?

Varo operates in Fintech, Neobank, Digital Banking, Consumer Lending, Savings Accounts, Checking Accounts.

### How many employees does Varo have?

Varo has approximately 431 people on record.

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