Gallatin Point Capital and The Rise Fund led a $241m Series D round for Varo Money.

Gallatin Point Capital and The Rise Fund led a $241m Series D round for Varo Money, an American mobile only neobank based in San Francisco. Other new investors joining the round include HarbourVest Partners and Progressive Insurance. "Varo was founded first and foremost to make a powerful impact on systemic financial inequality in communities across this country. As the first fully digital national bank, Varo will bring our mission of financial inclusion to life and create more financially resilient - and thus healthier and stronger - communities. This new investment will enable us to complete the chartering process and leverage our modern banking technology to build on our track record of innovation and inclusion," Colin Walsh, Varo Founder and CEO.