Full-Time
Varo
501-1,000 employees
Digital banking with fee-free services
Compensation Overview
$105k - $135k/yr
Senior
Remote in USA
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- Must have experience in SQL, Python, and Tableau
- Experience working with Git is a plus
- Ability to effectively communicate complex ideas to both technical and non-technical audiences through presentations and data visualizations
- Understanding of statistical concepts and experience building predictive models, preferred
- Highly motivated and thrive in a fast-paced, dynamic environment
- Take initiative, ask questions, and eager to learn
- Embrace challenges as opportunities for growth
- Passionate about working with others to achieve common goals
- Bachelor's degree in Mathematics, Physics, Statistics, Computer Science, Engineering, Economics, a similar quantitative field, or equivalent practical experience preferred
- Dive into vast datasets, utilizing your SQL, Python, and Tableau mastery to extract meaningful insights across all areas of risk, from credit and operational to compliance and beyond
- Craft compelling visualizations and presentations that communicate complex risk findings to both technical and non-technical audiences, influencing key decision-making
- Identify emerging risks and trends before they become headlines
- Develop early warning indicators and predictive models to mitigate potential threats proactively
- Collaborate with risk managers and business partners to continuously enhance our risk reporting, analysis, and monitoring frameworks
- Dive into diverse projects, learn new tools and techniques, and continuously expand your risk management expertise
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 charges. 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 is 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 Size
501-1,000
Company Stage
Series G
Total Funding
$1.1B
Headquarters
San Francisco, California
Founded
2015
Simplify's Take
What believers are saying
- Varo's collaboration with Green Dot and CVS Health enhances deposit convenience.
- 'Varo To Anyone' P2P feature attracts users seeking flexible payment solutions.
- Gavin Michael's leadership could drive strategic growth and innovation.
What critics are saying
- Leadership change may lead to strategic shifts or instability.
- Varo reported a $65 million loss in December 2024, affecting investor confidence.
- Varo's valuation dropped from $2.5 billion in 2021 to $1.85 billion in 2023.
What makes Varo unique
- Varo offers fee-free banking, unlike traditional banks with various fees.
- Varo provides early payday options, allowing access to paychecks two days early.
- Varo's credit-building service helps customers increase credit scores by 40 points in three months.
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Benefits
Professional Development Budget
Growth & Insights and Company News
6 month growth
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↑ 0%Fintech Varo has been hoping to raise a $55 million Series G round but has, so far, closed on $29 million to date, according to a recent SEC filing.Varo declined to comment on this new round but the fintech has raised just over $1 billion in funding since its 2015 inception, according to PitchBook. It wouldn’t be the first time its fundraising didn’t go as hoped for. In 2023, Varo raised a $50 million equity round at a lower valuation ($1.85 billion post-money) than its massive and, it said, “oversubscribed” $510 million Series E in 2021. That 2021 round valued it at $2.5 billion post-money, according to PitchBook. In somewhat of a surprise move, CEO and founder Colin Walsh recently announced he was stepping down with Gavin Michael replacing him as chief executive (Michael’s LinkedIn profile shows he assumed a leadership role at Varo in November of 2024). When asked about speculation that Walsh was forced to resign, a company spokesperson denied that was the case, telling TechCrunch: “This transition is about the next phase of Varo’s evolution.”The spokesperson pointed to Michael’s experience as CEO of publicly-traded crypto platform Bakkt and previous leadership roles at Citi and JPMorgan Chase as being “exactly what Varo needs for its next chapter.”“Colin has known Gavin for 19 years, and after working closely with him these past months, Colin is confident he’s the right leader to build on the company’s foundation that he built for the last decade, while maintaining Varo’s commitment to financial inclusion,” the spokesperson added.Walsh will remain on Varo’s board and, as a founder, still maintains a significant stake in the company, the spokesperson said. Varo was a highly watched fintech in its earlier years because the startup obtained its national bank charter in 2020 — a move that made it the first-ever all-digital nationally chartered U.S. consumer bank. In a 2022 interview with TechCrunch, Walsh said that the company was “still seeing strong customer growth” and still had “a clear path to profitability.” But as of early 2024, the company was not yet profitable. And according to a December 2024 call report, it had reported a loss of nearly $65 million.Want to reach out with a tip? Email me at maryann@techcrunch.com or send me a message on Signal at 408.204.3036
Varo Bank announces collaboration with Green Dot Corporation and CVS Health to enable deposits.
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Varo Bank welcomes Allen Parker as Chief Financial Officer, promotes Raktim Mitra to Chief Lending Officer.
Account holders who use the app can file simple tax returns in as little as 15 minutes and will have access to their return up to five days early, Varo said in a press release announcing the service through a partnership with Column Tax.