Chime is now price $14.5 billion, surging previous Robinhood as essentially the most precious US shopper fintech
Chime CEO Chris Britt
The fintech world has a brand new heavyweight.
Chime, the start-up that delivers banking companies by means of cell phones, has closed a fundraising that values the corporate at $14.5 billion, CNBC has realized solely.
That lofty determine makes Chime essentially the most precious American fintech start-up serving retail shoppers. Robinhood, the favored free-trading app, raised cash final month at an $11.2 billion valuation. The strikes present that at the same time as traders punish the shares of established U.S. banks —the KBW Financial institution Index has misplaced a 3rd of its worth this yr — they’re keen to lavish cash on pre-IPO fintech corporations that more and more appear to be section winners.
On this newest spherical, a collection F that raised $485 million, Chime greater than doubled its valuation from December and is price virtually 900% extra than simply 18 months ago, when it hit a $1.5 billion valuation. Chime is ranked No. 25 on the 2020 CNBC Disruptor 50 list.
The event locations Chime amongst a…