US FInTech Chime has seen its value rise following its latest funding round.
Chime raised $475mn in Series F funding.
The figure is more than double its previous valuation which took place in December 2019.
It’s now the most valuable consumer FinTech in the US.
What does this mean?
Chime’s CEO says it is profitable in terms of EBITDA, and the FinTech adds hundreds of thousands of accounts per month. According to CNBC, Chime will be ready for an IPO within the next year.