Exclusive: Warburg Pincus leads Varo's $124M funding

Neobanking startup Varo has raised $123.9 million in Series G funding led by existing investor Warburg Pincus, the company tells Axios exclusively.

Why it matters: The first U.S. neobank to secure a charter, Varo has its eyes on a turnaround after years of stalled growth and high burn.