How Much Did Chime Raise? Funding & Key Investors

Reed Hastings

Title

CEO

Email

pranav@clay.com

OpenAI

Location

NY

OpenAI

Total amount raised

10000

Latest funding date

April 05

Date
February 24, 2025

Chime

Total amount raised

$5.8 Billions

Latest funding date

December, 2019

Chime

Location

Title

Email

https://www.chime.com
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Status
Verified
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Chime has successfully raised $1.7 billion over seven funding rounds, achieving a valuation of $5.8 billion. The platform offers a range of financial services, including fee-free overdraft protection, early direct deposit, and high-yield savings accounts.

Keep reading to explore the intricacies of Chime's fundraising journey and the investors backing this innovative platform.

What Is Chime?

Chime, founded in 2013, is a financial technology company headquartered in San Francisco, with additional locations in Chicago and Vancouver. The company was established by Ryan King and Chris Britt, who also serves as the CEO.

Chime aims to provide financial peace of mind to millions of Americans by offering banking services that are helpful, easy, and free. Their services include fee-free overdraft, early access to paychecks, and credit improvement tools.

With a workforce of 1001-5000 employees, Chime partners with regional banks to design member-first financial products, creating a more competitive market with better, lower-cost options for everyday Americans.

How Much Funding Has Chime Raised?

  1. Series B Round
    • Amount Raised: $18 million
    • Date: September 2017
    • Lead Investors: Cathay Innovation
    • Motivation Behind the Round: To raise awareness about Chime and reach $1 billion in transaction volume by the end of the year.
  2. Series C Round
    • Amount Raised: $70 million
    • Date: May 2018
    • Lead Investors: Menlo Ventures
    • Valuation at Round: $500 million
    • Motivation Behind the Round: To scale the business, expand the team, and introduce new products and features, including credit and loan management solutions.
  3. Series D Round
    • Amount Raised: $200 million
    • Date: March 2019
    • Lead Investors: DST Global
    • Valuation at Round: $1.5 billion
    • Motivation Behind the Round: To aggressively expand into other areas of financial services like lending and credit, and to increase the team size.
  4. Series E Round
    • Amount Raised: $500 million
    • Date: December 2019
    • Lead Investors: DST Global
    • Valuation at Round: $5.8 billion
    • Motivation Behind the Round: To develop new products, double the employee count, open a new office, and potentially acquire competitors.

Chime has raised a total of $788 million and is currently valued at $5.8 billion.

Key Investors

  • Sequoia Capital Global Equities
    • Details: Sequoia Capital Global Equities is a global venture capital firm known for investing in early and growth-stage companies. They have a strong track record of backing successful tech giants.
    • Investment Focus Areas: Technology, healthcare, consumer, financial services
    • Notable Investments: Apple, Google, PayPal
  • SoftBank Vision Fund 2
    • Details: SoftBank Vision Fund 2 is a venture capital fund managed by SoftBank Group, focusing on technology companies. It aims to support transformative companies that are shaping the future.
    • Investment Focus Areas: Technology, artificial intelligence, robotics, IoT
    • Notable Investments: Uber, WeWork, DoorDash
  • General Atlantic
    • Details: General Atlantic is a global growth equity firm providing capital and strategic support for growth companies. They have a history of partnering with innovative companies to drive growth.
    • Investment Focus Areas: Technology, consumer, financial services, healthcare
    • Notable Investments: Airbnb, Uber, Slack
  • Tiger Global
    • Details: Tiger Global is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries. They are known for their aggressive investment strategy.
    • Investment Focus Areas: Internet, software, consumer, financial technology
    • Notable Investments: Facebook, LinkedIn, Stripe
  • Dragoneer
    • Details: Dragoneer is an investment firm that focuses on long-term investments in growth-oriented private and public companies. They aim to partner with exceptional management teams to build enduring businesses.
    • Investment Focus Areas: Technology, consumer, financial services
    • Notable Investments: Airbnb, Uber, Snowflake

What's Next for Chime?

Chime's future is brimming with opportunities, particularly in expanding its product offerings and customer base. With plans to develop new financial products and double its workforce, Chime is poised to capture a significant share of the digital banking market. The company’s recent $500 million funding round underscores investor confidence and provides the capital needed for potential acquisitions and further growth.

However, Chime faces several challenges, including intense competition from both traditional banks and new fintech entrants. The company must also navigate regulatory hurdles and prove its path to profitability amidst market skepticism. Ensuring robust systems to handle customer demands will be crucial as Chime scales its operations.

Use Clay to Get Funding Data

Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Chime and gather other critical business insights.

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