Branchless Bank Chime Raises $500 Million in Series E
Posted on 12/06/2019
San Francisco-based Chime is a challenger bank. These branchless banks are gaining traction as more consumers use online banking services. Chime raised US$ 500 million in a Series E round led by DST Global. This values the bank at US$ 5.8 billion. Other investors in the round include General Atlantic, Iconiq, Coatue, Dragoneer, and Menlo Ventures. Chime’s banking services are provided by The Bancorp Bank or Stride Bank, N.A. DST Global was founded by Yuri Milner in 2009.
Chime is led by its CEO Chris Britt. The capital gives Chime the ability to acquire financial technology companies, open a Chicago office, and double headcount.
