The Progressive-backed digital banking technology provider has now secured at least $482m in total, with Russell Westbrook Enterprises leading its latest round.

Varo Bank, a US-based digital banking services provider backed by automotive insurance provider Progressive, has received $63m in a round led by NBA Basketball professional Russell Westbrook’s impact investment firm, Russell Westbrook Enterprises. Private equity firm TPG’s impact investment vehicle, The Rise Fund, also participated in the round, along with Warburg Pincus, Gallatin Point Capital…

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