Full-Time
Principal Software Engineer
Fraud
Confirmed live in the last 24 hours
Varo
501-1,000 employees
Digital banking with fee-free services
Compensation Overview
$220k - $280kAnnually
Senior, Expert
Remote in USA
- 15+ years of industry experience in software development leading large and strategic high-impact areas in business
- Technical leadership and ownership in bringing multiple engineering functions to production
- Experience with scalable, distributed systems with a test-first approach
- Deep understanding of microservices and event-driven architectures
- Experience in strong consistency in a distributed environment, transactional databases, and caching systems
- Deep understanding of software security practices
- Partner with the engineering team to help design, build, and evolve the core banking/lending infrastructure for a bank for all of us
- Design and build scalable distributed solutions that our customers can build their lives around
- Work with product managers to understand business requirements to build the next-generation banking/lending platform
- Lead large-scale projects from ideation to creation with a customer-first mindset
- Identify areas of opportunity and innovation and take these projects to the finish line
- Define technical strategy with a drive to improve products, infrastructure, processes, or organizations
- Mentor engineers and work cross-functionally with various engineering and product teams
Varo Money provides digital banking services aimed at individuals looking for accessible and affordable banking options. The company offers a fee-free banking experience, which sets it apart from traditional banks that often impose various fees. Customers can benefit from services such as receiving their paychecks up to two days early through direct deposit, cash advances of up to $500 without interest, and a credit-building service that has helped users increase their credit scores by an average of 40 points in three months. Varo operates as an independent bank with its own banking charter, ensuring that all deposits are FDIC-insured up to $250,000. The goal of Varo is to create a more inclusive banking environment that prioritizes customer needs and financial well-being.
Company Stage
Series E
Total Funding
$996.3M
Headquarters
San Francisco, California
Founded
2015
6 month growth
↓ -3%1 year growth
↓ -6%2 year growth
↓ -13%
Simplify's Take
What believers are saying
- Varo's inclusion in Inc.'s 2023 Best in Business list for the third consecutive year highlights its strong reputation and industry recognition.
- The introduction of the 'Varo to Anyone' P2P feature positions Varo as a competitive alternative to popular services like Venmo and Cash App.
- Varo's credit-building service, which has shown to increase credit scores by an average of 40 points in three months, offers significant long-term financial benefits for customers.
What critics are saying
- The competitive fintech landscape, with major players like Chime and traditional banks entering the digital space, could challenge Varo's market share.
- Rapid expansion and the introduction of new features may strain Varo's operational capabilities and customer service.
What makes Varo unique
- Varo's fee-free banking model sets it apart from traditional banks that often charge various fees, making it a more attractive option for cost-conscious consumers.
- The early payday feature, allowing customers to receive their paychecks up to two days early, provides a significant advantage for those living paycheck-to-paycheck.
- Varo's independent banking charter and FDIC insurance up to $250,000 ensure a high level of security and trust for its customers.