Varo Money

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Varo’s purpose

For most traditional banks, banking used to be a relationship business–but the industry has changed. Customers need help to get ahead financially, and technology can enable more personalized help for more people.

Fintech apps are trying to disrupt the traditional financial services model, but they only offer single-point solutions.

Varo is built to improve customers’ financial health. We envision a world where every customer consistently spends less than they earn, gradually saves up a 3-month emergency fund in cash, steadily improves their credit profile, and plans ahead for insurance risks and big life events.

By integrating basic banking products (deposits, savings, and lending) with financial health tools (cash flow projections, spend tracking, and smart alerts), we’re reimagining what banking can be. This combination of integrated financial solutions and proprietary technology makes us the first entrant to truly challenge the existing banking model. We’re bringing relationships back to banking for everyone.

All-in-one mobile banking

Varo checks all the boxes

Traditional banks Specialty Banks Fintech banking apps Specialized lenders
A full financial picture through account aggregation
Bank account and interest-bearing savings accounts
Direct deposit, Bill Pay and debit card functionality
Customer-friendly fee structure
Competitively-priced credit products
Financial health-centered alerts & notifications
Automated goals and spend tracking
Cash flow projections to help customers spend less than they earn

This information was based on product offerings cited on the websites of these financial institutions: Bank of America, Chase Bank, Wells Fargo, Simple, Chime, Lending Club, Earnest, Capital One, and Ally

Varo leadership

Colin Walsh

Colin Walsh

Co-Founder, CEO

Kolya Klymenko

Kolya Klymenko

Co-Founder, CTO

John Vars

John Vars

CPO

Beth Gilson

Beth Gilson

VP Finance

Marc Loewenthal

Marc Loewenthal

Chief Compliance Officer

Marina Gracias

Marina Gracias

General Counsel

Wesley Wright

Wesley Wright

Head of Banking

Jaime Jerusalmi

Jaime Jerusalmi

VP Marketplace

Our team comes from great companies in tech and finance

Varo Team background

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Varo Team Photo Varo Team Photo

Few startups try to compete with the big incumbent financial institutions head-on, but Varo is up to that challenge

Varo’s aim is to provide a suite of app-based tools for customers’ financial health

[Varo’s] mission revolves around helping customers improve their financial situation

Varo is taking a different approach: to meet its goal, it wants to become a full-on national bank

Varo’s machine-learned algorithms detect customer’s income and expenses, and then predict outcomes over the near-term future — linked to a system of notifications, recommendations and tracking