Chime
FinTech
Founded: 2013
Last Round Valuation: $24.93B
Chime is a FinTech company that offers a range of consumer products, such as debit cards, spending accounts, and optional savings accounts, through its mobile banking app. Established in 2013, the company operates on the belief that banking services should be simple, beneficial, and free for users. Chime collaborates with local banks to develop financial products with a primary focus on serving its members' needs.
Chime Overview:
Chime is a FinTech company that provides a comprehensive suite of consumer financial products through its mobile banking app. Founded in 2013, Chime aims to revolutionize the traditional banking experience by offering user-friendly and fee-free services.
At its core, Chime offers a spending account and a Visa debit card that enables users to manage their money conveniently. The app provides real-time transaction alerts, balance updates, and easy access to funds, allowing users to stay in control of their finances. Additionally, Chime offers an optional savings account, helping users save money effortlessly with features like automatic savings transfers and round-up savings.
One of the key principles of Chime is the elimination of unnecessary fees. Chime does not charge monthly maintenance fees, overdraft fees, or minimum balance requirements. This approach aligns with the company's belief that banking services should be accessible and beneficial for everyone.
Chime differentiates itself by partnering with regional banks to provide its services. By collaborating with these banks, Chime leverages their existing infrastructure and regulatory frameworks, enabling the company to focus on developing member-centric financial products.
The Chime mobile app has gained popularity for its intuitive interface and user-friendly features. It offers a seamless and secure banking experience, with advanced security measures in place to protect user data and transactions.
Over the years, Chime has attracted a large user base and has been successful in securing significant funding from investors. This has allowed the company to expand its product offerings and invest in technological advancements to enhance the overall banking experience for its customers.
In summary, Chime is a fintech company that aims to provide accessible and fee-free banking services through its mobile app. With its focus on user-friendly features, partnerships with regional banks, and commitment to eliminating unnecessary fees, Chime has positioned itself as a leading player in the consumer banking space.
Founders:
Chris Britt
Ryan King
Top Investors:
Sequoia Capital Global Equities
SoftBank
General Atlantic
Coatue Management
Access Technology Ventures
DST Global
Menlo Ventures
Northwestern Mutual Capital
Omidyar Network
Cathay Innovation
Funding Rounds
| Round | Date | Post Money Val | Amount Raised | Price per Share |
|---|---|---|---|---|
| Series G | 2021-09-09 | $25.00B | $1.10B | $69.07 |
| Series F | 2020-10-14 | $14.50B | $533.83M | $40.92 |
| Series E | 2020-03-04 | $6.00B | $700.00M | $17.26 |
| Series D | 2019-02-27 | $1.30B | $200.00M | $5.22 |
| Series C | 2018-05-30 | $494.73M | $70.00M | $2.13 |
| Series B | 2017-09-26 | $90.00M | $18.00M | $0.47 |
| Series A2 | 2016-05-18 | $34.50M | $9.00M | $0.26 |
| Series A | 2014-11-03 | $28.00M | $8.00M | $0.27 |
| Seed Round | 2013-08-29 | $10.75M | $2.75M | $0.21 |
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