“Varo Money, the mobile banking startup, raised $241 million in venture funding with proceeds going to meet the capital requirements necessary to operate a national bank, develop new products, and otherwise support growth. The Series D round of funding co-led by Gallatin Point Capital, a new investor to Varo and The Rise Fund, which already backs the fintech, is notable given the COVID-19 pandemic has decimated the economy and hurt tons of businesses including startups.”