Varo Bank Named to Inc.'s 2023 Best in Business List in Financial Services For Third Year in a Row

News provided by

Dec 05, 2023, 07:00 ET

4th annual list recognizes 215 private companies putting purpose ahead of profit

SAN FRANCISCO, Dec. 5, 2023 /PRNewswire/ -- Varo Bank, N.A., the first nationally-chartered consumer techbank in the U.S., has been named to the Inc. 2023 Best in Business list in the Financial Services category. Inc.'s Best in Business Awards honor companies that have made an extraordinary impact in their fields and on society. This marks the third straight year Varo has been honored in this category, previously winning in 2022 and 2021.

The list, which can be found in the Winter issue of Inc. magazine (on newsstands December 12), recognizes the most dynamic companies of all sizes and industries that have had an outstanding influence on their communities, their industries, the environment, or society as a whole.

"It's an honor to be included once again on the Inc. Best in Business list," said CEO Colin Walsh. "As the nation's first techbank, Varo Bank is transforming consumers' daily relationship with money. Our bank charter enables us to deliver a uniquely innovative financial platform that empowers our customers, improves their financial health and helps them make real financial progress. For example, our consumers who often live paycheck to paycheck and are striving to get ahead find our free Varo To Anyone instant payments service, Varo Advance low-cost, short-term line of credit, Varo Believe secured credit building card and market leading savings solution central to their financial lives. Varo is truly a bank for all of us, and we are proud to be recognized for our success in fulfilling this important mission."

Eric Hagerman, Special Projects Editor at Inc., says, "Being named to the Best in Business list is a rare and special honor. These honorees demonstrate the foresight, caring, and dedication to prioritize positive impact—impact on their community, on their industry and the environment, and even on society as a whole."

Rather than relying on quantitative criteria tied to sales or funding, Inc.'s editors reviewed the companies' achievements over the past year and noted how they made a positive difference in the world. They then selected honorees in 70 different categories – from advertising to sustainability to retail, and more – and in age-based, revenue-based, size-based, and impact-based categories. The applicant pool was extremely competitive – a huge success for those honored in the list's fourth year. Honorees for general excellence across various industries and categories are featured online at inc.com/best-in-business.

About Inc.

The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community they need to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

About Varo Bank, N.A.

Varo Bank is a new kind of bank ⎼ the first nationally-chartered consumer techbank in the U.S., built from the ground up with a focus on the needs of Americans living paycheck to paycheck. From credit building to savings to faster payments, Varo has a complete solution to help hard working Americans make progress in their financial lives. Varo combines the capabilities and nimbleness of a technology company with the security and oversight of a regulated financial institution, enabling agile product design that provides technology-first solutions such as Varo Believe, a secured card to help build credit; Varo Advance, to help stretch hard-earned dollars between paychecks; and a high-yield savings account, offering one of the nation's highest APY rates in the country. Varo has been named as one of the Inc. 5000 2023 fastest growth companies in the U.S., CNBC's 2023 list of the World's Top Fintech Companies, one of Forbes' World's Best Banks, and Fast Company's Most Innovative Companies. For more information on Varo Advance, Varo Believe, and other offerings such as Perks, visit www.varomoney.com, like Varo Bank on Facebook, and follow us on Instagram and Twitter @varobank. ©2023 Varo Bank, N.A. Member FDIC.