
Total amount raised
$5.8 Billions
Latest funding date
December, 2019

Location
Chime has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company continues to innovate in the financial technology space, offering a range of mobile banking services.
Keep reading to explore the intricacies of Chime's fundraising journey and the investors backing this dynamic platform.
What Is Chime?
Chime, founded in 2012 by Chris Britt and Ryan King, is a financial technology company based in San Francisco, California. The company offers a range of mobile banking services designed to help users avoid fees, save money, and lead healthier financial lives.
Chime's platform includes features like fee-free overdraft, early paycheck access, and automatic savings. The company earns revenue from transaction fees paid by merchants, rather than charging its users.
With a workforce of 1001-5000 employees, Chime continues to innovate in the fintech space, providing accessible and user-friendly financial solutions.
How Much Funding Has Chime Raised?
- Series A
- Amount Raised: $8M
- Date: November 2014
- Lead Investors: Crosslink Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial mobile banking services.
- Series A
- Amount Raised: $9M
- Date: May 2016
- Lead Investors: Aspect Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their user base and enhance platform features.
- Series B
- Amount Raised: $18M
- Date: September 2017
- Lead Investors: Cathay Innovation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve customer service.
- Series C
- Amount Raised: $70M
- Date: May 2018
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand product offerings.
- Series D
- Amount Raised: $200M
- Date: March 2019
- Lead Investors: DST Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology infrastructure and support rapid user growth.
- Series E
- Amount Raised: $700M
- Date: December 2019
- Lead Investors: DST Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and prepare for future product launches.
- Series F
- Amount Raised: $533.8M
- Date: September 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and innovation in financial services.
- Series G
- Amount Raised: $750M
- Date: August 2021
- Lead Investors: Sequoia Capital Global Equities
- Valuation at Round: $25B
- Motivation Behind the Round: To expand operations and business reach, positioning for a potential IPO.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $2.2888B. Current Valuation: $25B.
Key Investors
- Sequoia Capital Global Equities
- Details: Sequoia Capital Global Equities is a prominent venture capital firm that invests in various stages of a company's lifecycle, from seed to growth stages. They led Chime's $750 million funding round in August 2021.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Apple, Google, Oracle.
- SoftBank Vision Fund 2
- Details: Managed by SoftBank Group, Vision Fund 2 focuses on large-scale investments in technology-driven companies. They participated in Chime's $750 million funding round in August 2021.
- Investment Focus Areas: Artificial intelligence, robotics, IoT, telecommunications.
- Notable Investments: Uber, WeWork, ByteDance.
- General Atlantic
- Details: General Atlantic is a global growth equity firm providing capital and strategic support for growth companies. They are an existing investor in Chime and participated in the $750 million funding round in August 2021.
- Investment Focus Areas: Technology, financial services, healthcare, consumer.
- Notable Investments: Airbnb, Alibaba, Uber.
- Tiger Global Management
- Details: Tiger Global Management focuses on private and public companies in the global internet, software, consumer, and financial technology industries. They are an existing investor in Chime and participated in the $750 million funding round in August 2021.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a growth-oriented investment firm that invests in technology-enabled businesses. They are an existing investor in Chime and participated in the $750 million funding round in August 2021.
- Investment Focus Areas: Technology-enabled businesses across various sectors.
- Notable Investments: Airbnb, Alibaba, Slack.
What's Next for Chime?
Chime's future looks promising with significant opportunities for growth. The recent $750 million funding round positions the company to expand its operations and business reach. With a valuation of $25 billion, Chime is well-prepared for a potential IPO, which could further boost its capital and market presence.
As Chime gears up for this major milestone, it faces the challenge of navigating regulatory scrutiny and intense competition from other fintech companies and traditional banks. However, the strong investor confidence and substantial funding provide a solid foundation for Chime to continue innovating and expanding its range of financial products.
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