SAN FRANCISCO, Dec. 1, 2016 /PRNewswire/ -- Varo Money, Inc. ("Varo"), a mobile-only banking start-up that will help consumers gain greater control of their financial lives, today announced that Karen White, a longtime Silicon Valley technology leader, has joined its Board of Directors.
"We are thrilled to welcome Karen to our Board at this important time for Varo," said Colin Walsh, Chief Executive Officer and Co-Founder of Varo. "Her leadership track record in the technology industry, together with her experience in growing businesses of scale, will be invaluable to the company as we continue making great progress toward building a truly differentiated financial technology business."
Karen is an accomplished leader in the technology industry. Most recently, she was President, COO and on the Board of Directors of Addepar, an investment management technology company. Prior to Addepar, she served as CEO and Chairman of the Board of Syncplicity, an enterprise-grade online file sharing and mobile collaboration solution, where she grew the SaaS business from first product launch to 30,000 business customers over 3 years, leading to the successful acquisition of the company by EMC in 2012. Karen led business and corporate development at SolarWinds through the company's successful IPO in 2009, and held a variety of executive management roles at Oracle for seven years. She was also Managing Director at Pequot Capital, where she focused on venture investments in enterprise software companies.
"Varo is an incredibly transformative company, bringing long overdue innovation that is truly customer centric to the traditional banking industry," said Karen White. "I believe Varo will improve the day-to-day financial lives of millions of people and I'm excited to play a role with the company and its talented team."
Karen joins a select group of industry experts and leaders on the Varo Board of Directors including David Coulter, Kevin Moss, Cary Davis and Colin Walsh.
Varo recently launched its beta product to a closed group of users. Earlier this year, the company partnered with The Bancorp Bank to provide private label banking services to support Varo mobile checking and savings account products. Varo has also partnered with Galileo Processing, Inc. to provide payment and transaction processing services, Socure, Inc. for digital identity verification services, and Cachet Financial Solutions Inc. for mobile check deposit.
Varo Money, Inc. is a financial technology company based in San Francisco, California. Varo was founded on the belief that there is a better way to bank that will help improve the financial outcomes of a generation of consumers. In May 2016, Varo announced a $27 million funding round led by Warburg Pincus. Varo is working with several partners and a panel of millennial advisors to develop and deliver an innovative banking experience in the U.S. For more information please visit www.varomoney.com.
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SOURCE Varo Money, Inc.