Varo Bank announced new appointment and a promotion

Parker's Experience at General Electric, Amazon, and Zillow, Combined with Mitra's Lending Roles at Goldman Sachs and Lending Club, Bolsters a Robust Leadership Team
PRNewswireMarch 19, 20246 min

Varo Bank, N.A., the first nationally-chartered consumer techbank in the U.S., is pleased to announce the appointment of¬†Allen Parker¬†as its new Chief Financial Officer. Additionally,¬†Raktim Mitra¬†has been promoted to Chief Lending Officer after helping to build the company’s lending business in his previous role as Head of Lending.

Allen Parker¬†joins Varo Bank with over 35 years of operational finance experience, having previously served as the Chief Financial Officer of real estate tech company Zillow (Nasdaq:¬†Z), where he played a pivotal role in architecting and scaling critical operational processes to support Zillow Group’s strategy to better serve their customers with a broader suite of innovative products and services to help customers sell, buy or rent their next home. His track record of financial stewardship extends to key positions at prominent companies, including as a VP of Finance in various leadership roles at Amazon for 13 years and roles at General Electric, Trane Residential Systems, and more.

In his new role at Varo Bank, Parker will lean on his pedigree in combined financial and tech leadership and proven track record of driving growth to oversee the accounting, finance, treasury, investor relations, M&A, and tax functions for Varo Bank as it scales its digital banking and lending offerings.

Raktim Mitra will expand his existing responsibilities at Varo Bank with his promotion to Chief Lending Officer by overseeing the key development of borrowing and lending products, a strategic growth area for the company. Before joining Varo Bank in 2022, Raktim amassed significant experience in launching and scaling multiple businesses across consumer and small business lending. He held leadership roles at Lending Club, Goldman Sachs and Discover, among others.

“We are pleased to welcome¬†Allen Parker¬†to the team while also elevating Raktim to Chief Lending Officer from within at this exciting time for the company,” shared¬†Colin Walsh, founder and CEO of Varo Bank. “Allen’s strategic financial acumen, tech industry knowledge, and leadership skills will be critical as we prepare to scale our business, while Raktim’s track record of innovation excellence in lending will accelerate our ability to develop products that make an impact with our customers.”

“After years of guiding finance teams through the dynamic realms of the tech industry, I’m thrilled to step into the role of CFO at a pioneering techbank,” stated¬†Allen Parker. “Varo Bank’s unique structure, which merges the agility of a tech firm with the stability of a bank because of its charter, is a perfect challenge for me, and I’m eager to contribute to the company’s next stage of¬† growth.”

“I am honored and excited to take on the role of Chief Lending Officer at Varo Bank,” said¬†Raktim Mitra. “I eagerly anticipate taking this next step, guiding our talented lending team to shape the future of lending by delivering solutions that empower our customers to achieve their financial goals.”

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