Company

Varo

Varo is a digital bank based in San Francisco that provides mobile banking services including high-yield savings accounts, automatic saving tools, and quick access to funds. As an FDIC-insured, OCC-chartered national bank, it serves customers through its mobile app platform. The company focuses on financial inclusion and serves individuals seeking accessible, technology-driven banking services.

Varo is a privately held company operating in the fintech sector, based in USA.

www.varomoney.com ↗

Leadership

Former

Colin Walsh

CEO · 2015–2025

Recent developments

AI summary of recent coverage

Recent coverage has focused on leadership transitions at Varo Bank, with founder and former CEO Colin Walsh stepping down in early 2025 and being succeeded by Gavin Michael, a former Bakkt executive. The new CEO inherited a challenging financial situation, with reports characterizing the financial report presented to leadership as grim despite the company's estimated annual recurring revenue of $167.6 million in 2024.

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