Bank tracked in the Embedded Finance Index. Named by 2 companies, most often as their banking-as-a-service.
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2 companies name Varo Bank in their stack. The most common role is banking-as-a-service (2). A company can use the same bank for more than one thing.
Founded in 2015 as Varo Money, the company pursued a multi-year regulatory campaign to obtain a de novo national bank charter — achieved in 2020 as a historic first for a consumer fintech. This eliminated reliance on sponsor bank partners (previously Bancorp Bank) and allowed Varo Bank, N.A. to operate as a fully chartered institution. Post-charter, Varo expanded from basic checking/savings into credit products (Varo Advance cash advances, Varo Believe credit-builder card, and Varo Line of Credit), pursuing profitability through product depth and engagement. The 2024 Marqeta deal marked a shift toward best-in-class card infrastructure while the company leaned into cost reduction and product-led growth.
Other banks named for PSP in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
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alt="Ranked #364 of 528 in PSP — Embedded Finance Index 2026">
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<img src="https://www.embeddedfinanceindex.com/api/badge/varo-bank/install" width="1" height="1" alt="" style="display:none">2 companies are linked to Varo Bank in the Embedded Finance Index 2026, through their own public disclosures or Varo Bank's published customer list, including Varo and Varo Money.
Varo Bank is a bank. Companies in the Embedded Finance Index 2026 name it as their banking-as-a-service (2), payments & acquiring (2) and lending partner (1).
The most-named PSP alternatives to Varo Bank are Wells Fargo Bank (8 buyers), Fifth Third Bank (7 buyers), JPMorgan (6 buyers), Cross River (5 buyers), Chase Paymentech (4 buyers) and Deutsche Bank (4 buyers).
Varo Bank was founded by Colin Walsh and is founded in 2015, headquartered in San Francisco, CA.
Varo Bank has raised ~$1B+ in total.
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