Move over, Robinhood—Chime is now the most valuable U.S.-based consumer fintech.
According to CNBC, Chime, a so-called neobank that offers branchless banking services to customers, is now worth $14.5 billion, besting the price tag of massive retail trading platform Robinhood at around $11.2 billion, as of mid August, per PitchBook data. Business Insider also reported about the possible new valuation earlier this week.
Chime locked in its new valuation via a Series F funding round to the tune of $485 million from investors including Coatue, ICONIQ, Tiger Global, Whale Rock Capital, General Atlantic, Access Technology Ventures, Dragoneer, and DST Global, per CNBC.
The fintech has seen massive growth over its seven-year life. Chime first reached one million users in 2018, and has since added millions of customers, although the company has not said how many users it currently has in total. Chime provides banking services through a mobile … Read More