About Chime
Chime offers online banking services without physical branches, focusing on a fee-free experience. It allows customers to overdraft up to $200 on debit card purchases without fees through its SpotMe service and provides direct deposit for paychecks up to two days earlier than traditional banks. Chime does not charge monthly fees or minimum balance fees and offers a secured credit card to help users build credit. The company's goal is to provide accessible banking solutions that empower customers to manage their finances effectively.
San Francisco, CaliforniaHeadquarters
2012Year Founded
$1,988.1MTotal Funding
SERIES_GCompany Stage
Fintech, Financial ServicesIndustries
1,001-5,000Employees
Benefits
Competitive salary based on experience
401k match plus the usual medical, dental, vision, life, and disability benefits
Generous vacation policy and company-wide Take Care of Yourself Days
Virtual events to connect with your fellow Chimers- think cooking classes, music festivals, mixology classes, paint nights, etc., and delicious snack boxes, too!
Risks
Increased competition from neobanks could erode Chime's market share.
Potential regulatory changes on interchange fees could impact Chime's revenue model.
Chime's reliance on bank partnerships poses risks if these face challenges.
Differentiation
Chime offers fee-free banking services, unlike traditional banks with multiple fees.
SpotMe allows overdrafts up to $200 without fees, enhancing customer financial flexibility.
Chime's Salt platform rewards frontline workers, differentiating it in HR technology.
Upsides
Chime's free in-app tax filing could attract new users and increase retention.
Expanded ATM network at Walgreens enhances brand visibility and user convenience.
Anticipated pullback by banks on 'free' services presents market share opportunity for Chime.
Funding
Total raised$1.99 B
Latest valuation$25.00 B
StageSERIES_G
SERIES G
7/31/2021$750
$25.00 BSERIES C
4/30/2018$70
$500.00 M$18
$90.00 MEARLY VC
4/30/2016$9
$45.00 M$4
$10.00 M