/start ups

News and resources on fintech start-ups, scale-ups, hubs, accelerators, VCs and funding worldwide.

For whom the bells toll: Chime eyes $1.5 billion valuation

US online-only bank Chime is close to raising $300 million at a $1.5 billion valuation, according to Bloomberg.

  2 Be the first to comment

For whom the bells toll: Chime eyes $1.5 billion valuation

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The mobile banking startup in June raised $70 million in a Series C funding round led by Menlo Ventures that valued the company at $500 million.

Citing "two people familiar with the matter", Bloomberg says DST Global is likely to lead the one currently closing, which will see a tripling of Chime's value in just nine months.

DST led Revolut's $250 million round early last year at a $1.7 billion valuation.

Chime has garnered more than 2 million accounts since it was founded in 2013. The company says it is adding 100,000 customers a month for its fee-free, user-friendly banking app, which provides an accompanying debit card - on which the business earns interchange revenue - and auto-savings account.

Sponsored [New Impact Study] Catering to a new generation through unified card programmes

Related Company

Comments: (0)

New Event Report – Natural Capital FinanceFinextra PromotedNew Event Report – Natural Capital Finance