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Announced

Completed

Lone Pine Capital led a $510m Series E round in Varo.

Financials

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Transaction Value£368m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Completed

Private Equity

Minority

Private

Friendly

Single Bidder

Acquisition

Domestic

Venture Capital

Payments / Commerce

mobile payments

neobank

United States

fintech

Synopsis

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Lone Pine Capital, a private equity firm, led a $510m Series E funding round in Varo, a fintech company. Additional investors include Warburg Pincus, The Rise Fund, Marshall Wace, Holland George Capital Management, HarbourVest Partners, Gallatin Point Capital, Eldridge, Declaration Partners and BlackRock. Varo is weighing options for eventually going public as well as overseas expansion. Armed with its charter and more than $500m to plow into customer acquisition and product development.

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