Funding round
Varo Series G
Varo, which works in digital banking services in San Francisco, raised $124M in a Series G round announced on 2 Feb 2026, led by Warburg Pincus and Coliseum Capital Management, LLC. 3 firms took part, 2 of them already investors. It is Varo's sixth venture round on record; the one before was a Growth in Sep 2021.
$124M
Amount raised
Not disclosed
Post-money valuation
3
Investors
2 leads
Valuation
What this round says about the price
Varo did not disclose a valuation in this round; its last disclosed one was $2.50B at the Growth (Sep 2021). It came 53 months after Varo's Growth. It is 11% of the $1.08B Varo has raised in the venture rounds on record. No later venture round is on record for Varo.
Varo's funding rounds
Varo has 6 venture rounds on record. This one is highlighted.
- Series B 18 Jan 2018, led by TPG and Warburg Pincus $45M
- Series C 16 Jul 2019, led by Warburg Pincus, TPG and Gopher Asset Management $100M
- Series D 3 Jun 2020, led by Gallatin Point Capital and TPG $241M
- Growth 18 Feb 2021, led by Russell Westbrook Enterprises $63M
- Growth 9 Sep 2021, led by Lone Pine Capital $510M$2.50B post-money
- Series G this round 2 Feb 2026, led by Warburg Pincus and Coliseum Capital Management, LLC $124M
Investors
Who put money in
Warburg Pincus and Coliseum Capital Management, LLC led the round with 1 other firm. Warburg Pincus and Northview had backed Varo before.
Lead investors
- Warburg Pincus backs 76 venture-backed companies existing investor
- Coliseum Capital Management, LLC new investor
Also in the round
- Northview existing investor
Joined the board: Alice Milligan (Morgan Stanley) and Kevin Watters (JP Morgan).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Banks & ATMs, then Series G rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Solaris Banks & ATMs | 4 Feb 2025 | $144M | not disclosed | SBI Holdings and Boerse Stuttgart Group |
| Anthropic Tech Companies | 12 Feb 2026 | $30.00B | $380.00B | GIC and Coatue |
| Shield AI Aerospace and Defence | 26 Mar 2026 | $1.50B | $12.70B | Advent International and JPMorgan Chase |
| WHOOP Medical Supply Manufacturers | 31 Mar 2026 | $575M | $10.10B | Collaborative Fund |
| SiFive Electronical Components Manufacturing | 9 Apr 2026 | $400M | $3.65B | Atreides Management |
| Airwallex Payment Processing & Point of Sale | 8 Dec 2025 | $330M | $8.00B | Addition |
| Creditas Loans & Financing | 1 Dec 2025 | $108M | $3.30B | Andbank Group |
| Clio Tech Companies | 10 Nov 2025 | $500M | $5.00B | New Enterprise Associates |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Varo raise in its Series G round?
Varo raised $124M in its Series G round, announced in Feb 2026.
Who led Varo's Series G round?
Warburg Pincus and Coliseum Capital Management, LLC led it, with Northview.
What was Varo's valuation at the Series G round?
It was not disclosed; its last disclosed one was $2.50B at the Growth (Sep 2021).