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Chime earns big valuation jump in latest financing, nears IPO

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Chime CEO Chris Britt

Source: Chime

Chime said Friday it raised $750 million in a Series G funding round that values the fintech company at $25 billion. That’s $10 billion higher than its last reported valuation of $15 billion from October 2020, according to PitchBook data.

Chime — a so-called challenger bank known for fee-free banking, early paydays for those who use direct deposit and a feature that lets users go negative in their accounts without overdraft fees — said it intends to invest the new capital in scaling operations, as well as launching new products and services.

It, along with Square‘s Cash App and a few other players, have become viral hits for their ease of use —…



Source cnbc.com

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