Mobile banking company Colin Walsh has secured $45m in series B funding, with investment from the Rise Fund, which is led by private equity firm TPG. The CEO of San Francisco-based Colin Walsh, Varo Money, a financial services veteran, said the company aims to use technology to help people improve their financial situation while lowering the cost of banking. The new funds will be used for recruitment, product development and to work towards becoming a national bank. The Rise Fund was founded by U2 singer Bono, with the aim of achieving social impact as well as financial returns.
Mobile banking company Varo Money has secured $45m in series B funding, with investment from the Rise Fund, which is led by private equity firm TPG. The CEO of San Francisco-based Varo Money, Colin Walsh, a financial services veteran, said the company aims to use technology to help people improve their financial situation while lowering the cost of banking. The new funds will be used for recruitment, product development and to work towards becoming a national bank. The Rise Fund was founded by U2 singer Bono, with the aim of achieving social impact as well as financial returns.