Chime Raises $750M in Funding
- 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
- The company intends to use the funds to expand operations and its business reach
- According to reports, the round would position Chim’e for a potential IPO in the first six months of 2022
- The company 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
