Chime has raised $750mn, bringing its valuation to $25bn.
In Brief:
Chime offers fee-free mobile banking services.
This was part of the FinTech’s Series E round.
Primary investors included SoftBank, Sequoia Capital Global Equities, General Atlantic, Tiger Global and Dragoneer Investment Group.
What does this mean?
Chime has now seen its valuation rise by $10bn, having become profitable on an EBITDA basis during the Covid-19 pandemic. According to CNBC, CEO Chris Britt says the company adds “hundreds of thousands” of accounts per month, but has not said how many users it has.
