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After raising $1 billion, fintech Varo closes another $29 million, replaces founder CEO
Fintech Varo has been hoping to raise a $55 million Series G round but has, so far, closed on $29 million to date, according to a recent SEC filing. Varo
Varo declined to comment on this new round but the fintech has raised just over $1 billion in funding since its 2015 inception, according to PitchBook. When asked about speculation that Walsh was forced to resign, a company spokesperson denied that was the case, telling TechCrunch: “This transition is about the next phase of Varo’s evolution.” The spokesperson pointed to Michael’s experience as CEO of publicly-traded crypto platform Bakkt and previous leadership roles at Citi and JPMorgan Chase as being “exactly what Varo needs for its next chapter.”
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