Varo
Spent three years and ~$100M to become the first US consumer fintech granted its own national bank charter.
First US consumer fintech with a national bank charter.
The facts
| Category | traditional |
| HQ | San Francisco, US |
| Founded | 2015 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| Licence detail | National bank charter (2020) |
| Card | Visa · Debit |
| Yield | Up to 5% APY (conditions) |
| Stablecoins | No |
| KYC | Yes |
| Active regions | North America |
| Countries | United States |
| Founders | Colin Walsh |
| Funding | ~$1B raised |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @varomoney ↗
comparePut Varo side by side with any of the other 356 tracked neobanks in the directory — custody, licence, cashback, yield, stablecoins and geography in one view.
Peers
Chime · Wise · Current · SoFi · Ally Bank · Dave
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.