Sep 21, 2020

Chime raises $485mn in series F funding round

Fintech
Banking
Evelyn Howat
1 min
Chime raises $485mn in series F funding round
US neobank Chime has raised $485mn in its recent series F funding round, making it the most valuable American fintech start-up serving retail consumers...

San Francisco based Chime is a mobile bank that offers a user-friendly banking experience through its app and accompanying debit card with no fees. According to a report by CNBC, the company has raised $485mn in series F funding, crowning it the most valuable US-based consumer fintech with its new $14.5bn valuation.

In December 2019, the digital bank was valued at $1.5bn, meaning it is now worth almost 900% more than it was 18 months ago. Like many tech-centric companies and challenger banks, Chime has seen a surge in revenue during the COVID-19 pandemic. In fact, Chief Executive Officer, Chris Britt told CNBC that the company experienced a tripled transaction volume and revenue this year.

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