Tagged: warburg pincus

The Rise Fund & Warburg Pincus Lead $45 Million Series B Funding for Challenger Bank Varo

Varo Money, a digital challenger bank, has closed a $45 million Series B funding round led by existing investor Warburg Pincus and The Rise Fund, a global impact fund led by private equity firm TPG. Varo said that 30 other investors participated in the round… Read More

New Era in Banking? Digital Only Varo Bank Files for National Bank Charter

Varo Money has applied for a national bank charter from the Office of the Comptroller of the Currency (OCC) and with the Federal Deposit Insurance Corporation (FDIC) for federal deposit insurance. This is the next step in creating a digital only challenger bank (Varo Bank) that… Read More

Warburg Pincus Acquires 35% Stake in Avaloq

Global private equity firm Warburg Pincus has acquired a 35% ownership stake in Avaloq, a Switzerland-based Fintech firm that provides banking software. Avaloq has been in existence since 1985 and today the company has more than 2000 employees from around the world. An affiliate of… Read More

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