Form D On Watch: Varo Money $16.00 million Fundraising. Colin Walsh Published Nov 8 Form D

Banking and Financial Services Varo Money, Inc. - Colin Walsh

Varo Money Financing

Varo Money, Inc., Corporation just had published form D because of $16.00 million equity financing. This is a new filing. Varo Money was able to finance itself with $5.33 million so far. That is 33.33% of the fundraising. The total private offering amount was $16.00 million. The financing document was filed on 2016-11-08. The reason for the financing was: unspecified. The fundraising still has about $10.67 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Varo Money is based in California. The firm’s business is Other Banking and Financial Services. The form was filed by Colin Walsh Chief Executive Officer. The company was incorporated in 2015. The filler’s address is: 77 Geary St, Suite 515, San Francisco, Ca, California, 94109. Colin Walsh is the related person in the form and it has address: C/O Varo Money, Inc., 77 Geary Street, Suite 515, San Francisco, Ca, California, 94108. Link to Varo Money Filing: 000114036116086685.

Analysis of Varo Money Offering

On average, companies in the Other Banking and Financial Services sector, sell 60.00% of the total offering amount. Varo Money sold 33.33% of the offering. The financing is still open. The average investment offering size for companies in the Other Banking and Financial Services industry is $1.58 million. The total amount raised is 238.60% bigger than the average for companies in the Other Banking and Financial Services sector. The minimum investment for this financing was set at $0. If you know more about the reasons for the financing, please comment below.

What is Form D? What It Is Used For

Form D disclosures could be used to track and understand better your competitors. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. This is because it reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.

Why Fundraising Reporting Is Good For Varo Money Also

The Form D signed by Colin Walsh might help Varo Money, Inc.’s sector. First, it helps potential customers feel more safe to deal with a firm that is well financed. The odds are higher that it will stay in the business. Second, this could attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.

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