Varo Money, a mobile-only banking startup has raised more than $27 million in a round of financing led by Warburg Pincus. Varo will attempt to help consumers gain greater control of their financial lives. “Varo is an excellent fit within our industry thesis focused on the bank of the future. We are at a tipping point in retail banking, and there is a real opportunity to build a new and differentiated bank model based on a mobile platform serving the needs of many people. We look forward to working with Colin Walsh and the Varo management team as they bring a new level of innovation to the traditional world of banking,” said Michael Martin, Managing Director and Head of the Financial Services Group, Warburg Pincus.
Homology Medicines a genetic medicines company, has closed a $43.5 million Series A preferred stock financing co-led by 5AM Ventures and ARCH Venture Partners. Temasek, Deerfield Management and ARCH Overage Fund also participated. The new formed company will use gene editing and gene therapy technologies to develop treatments for patients with rare diseases. “It is rare to find cutting-edge science that takes a fundamentally new approach placed in the hands of experts who have worked together as a team before to translate new technologies into treatments targeting the underlying cause of serious genetic diseases,” said Dr. Arthur Tzianabos, CEO of Homology Medicines. “We are convinced that this single technology platform, which enables in vivo editing by efficient gene transfer, has broad, unmatched capabilities. With the strong support of our investors and advisors, we will rapidly advance novel treatments that have the potential to cure patients.”
EclecticIQ, a vendor of threat intelligence technologies, has secured EUR5.5 million in Series A funding from INKEF Capital and KPN Ventures. The company has now raised a total of $7.3 million and will use the funds to expand across sectors and geographies. Corne Jansen, Director at INKEF Capital, comments: “We are excited to join EclecticIQ as a shareholder; EclecticIQ’s fundamental belief that the end-user should be at the center, leading to a better and more efficient CTI process really resonates with us. EclecticIQ’s approach already delivers significant value to early enterprise customers in government and financial services, and we expect adoption to accelerate quickly.”