Chime, a San Francisco, CA-based fintech company which provides mobile banking services via regional banks, raised $750m in funding.
The round, which post-money valued the company at $25 billion, was led by Sequoia Capital Global Equities, with participation from SoftBank’s Vision Fund 2, as well as existing investors General Atlantic, Tiger Global and Dragoneer Investment Group.
The company intends to use the funds to expand operations and its business reach. According to reports, the round would position Chime for a potential IPO in the first six months of 2022.
Led by Chris Britt, CEO, Chime is a financial technology company which partners with regional banks to design member first financial products. The company considers itself a financial technology company, not a bank. Its banking services are provided by The Bancorp Bank or Stride Bank N.A.; Members FDIC.