Bank, Finance, Credit card, Fractional-reserve banking, Banking, Central bank

Varo Money gets new backers and closer to bank charter

On Jun 3, 2020
@FintechBot shared
Varo Money gets new backers as it nears completion of its bank charter https://t.co/vnJ1VFdFnZ by AmerBanker
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The mobile bank raised $241 million in its Series D round of funding, and expects to receive approval from regulators to become a nationally chartered bank this summer.

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On Jun 3, 2020
@FintechBot shared
Varo Money gets new backers as it nears completion of its bank charter https://t.co/vnJ1VFdFnZ by AmerBanker
Open

Varo Money gets new backers and closer to bank charter

Varo Money gets new backers and closer to bank charter

The mobile bank raised $241 million in its Series D round of funding, and expects to receive approval from regulators to become a nationally chartered bank this summer.

Varo Money raises $241m funding for national bank ambitions

Varo Money raises $241m funding for national bank ambitions

♫ I have climbed the highest mountains, I have run through the fields, only to be with you, only to be with you ♫ In this instance, US mobile banking company Varo Money has found what it’s ...

Varo’s bank charter process a test for consumer banking startups

Varo’s bank charter process a test for consumer banking startups

This week, digital banking startup Varo received approval from the Federal Deposit Insurance Corporation, a significant milestone in the company's three-year

Varo Money raises $241m

Varo Money raises $241m

As it closes in on a national bank charter, San Francisco-based mobile banking startup Varo Money has raised $241 million in a Series D funding round.

Fintech has finally cracked the US banking sector

Fintech has finally cracked the US banking sector

Fintech is overhyped, but it's also keeping centuries-old banks on their toes.

BankThink How regulators besides the OCC can help fintechs

BankThink How regulators besides the OCC can help fintechs

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act ...

Fintechs Seek Answers on Charters, Open Banking, Crypto in 2020

Fintechs Seek Answers on Charters, Open Banking, Crypto in 2020

Financial technology companies notched a few policy wins in 2019, including regulatory approval to use alternative data in loan underwriting and much-needed clarity on loan interest rates ...

It's harder for fintechs to become banks. And that's good.

It's harder for fintechs to become banks. And that's good.

Fintech companies only think they want to be banks. Banking may seem like a natural evolution, but that doesn’t mean fintech firms should become banks, says nbkc bank's Zach Anderson ...

Varo Money Locks in $241 Million in Series D Investment

Varo Money Locks in $241 Million in Series D Investment

In a round led by Gallatin Point Capital and The Rise Fund, mobile banking startup Varo Money has secured $241 million in new funding. The investment in the San Francisco, California-based ...

Bank supervision in America is unfit for the digital age

Bank supervision in America is unfit for the digital age

Complexity favours incumbents, large and small, over startups

Banks seek Congress’ help to block fintech path to ‘industrial’ charters

Banks seek Congress’ help to block fintech path to ‘industrial’ charters

The Independent Community Bankers of America says industrial charters are a loophole in the banking law that Congress should close.

‘Fintech Charter’ Has No Early Takers as Lawsuit Looms

‘Fintech Charter’ Has No Early Takers as Lawsuit Looms

A national banking regulator is offering cutting-edge financial firms a new pathway into the traditional banking system. So far, few of them are biting.

Jack Dorsey’s Square to launch a bank in 2021

Jack Dorsey’s Square to launch a bank in 2021

The Twitter co-founder and Square CEO has set his sights on launching an SME bank next year.