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September 9, 2021

CFH Press Release: Carolina Fintech Hub Welcomes Varo® Bank to Charlotte

Carolina Fintech Hub Welcomes Varo® Bank to Charlotte

On the heels of its $510 million capital raise, the high-growth, mission-driven fintech selects Charlotte as its East Coast hub

Carolina Fintech Hub is announcing that Varo Bank, N.A. has selected Charlotte, North Carolina for its third location and inaugural East Coast site. Varo Bank was launched in 2017 with the vision to bring the best of fintech into the regulated banking system, as an all digital and FDIC insured bank designed to advance financial inclusion and opportunity for all. Varo’s rapid customer growth is powering its expansion to a third hub in Charlotte in addition to existing office locations in San Francisco and Salt Lake City.

“Carolina Fintech Hub has built a reputation for recruiting world-leading fintech firms, so much so that companies are now starting to reach out to us directly,” says Tariq Bokhari, CFH Founder and Executive Director. “When Varo contacted us several months ago and expressed an interest in Charlotte, we were excited to roll out the red carpet for them and show them just how much this great city and thriving fintech ecosystem has to offer.”

Varo has been hiring aggressively across the country, doubling its total headcount to over 800 employees over the past year. Varo already has over 100 employees in Charlotte and plans to grow its workforce to include several hundred across Risk, Operations, Technology, People, Finance, and Product teams. While the current Charlotte-based team is working remotely during the pandemic, Varo has active plans to secure a physical office in the area.

“As our first hire in Charlotte, I’m thrilled to embed Varo in the local community and build a team that reflects our commitment to advancing financial inclusion and opportunity for millions of consumers here in the Southeast and beyond,” said Pepe Porrata, Varo’s Chief Operations Leader. “When we decided to expand to the East Coast, the Carolina Fintech Hub was our first call and became a valuable partner in our decision to put down roots in Charlotte.”

Empowered by its trailblazing business model and social mission, Varo is uniquely positioned to address a broad range of consumer needs while sustainably serving the marginalized and underserved communities that have been historically excluded from the financial system.

For more information on available roles in the Charlotte area, please visit

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Posted by Pasha Maher