Chime raises $200M in Series D funding to boost valuation to $1.5B

March 5, 2019

Chime, the San Francisco-based mobile bank, has raised $200 million in Series D funding, led by DST Global, according to a company press release.

DST, a prior investor in Chime, was joined by Coatue, General Atlantic, Iconiq Capital and Dragoneer Investment Group.

"We’re excited to welcome some of the world’s leading growth investors to Chime," Chris Britt, founder and CEO of Chime said in the announcement. "Banking should be free, helpful and easy, but traditional banks are reluctant to embrace this reality."

He said the new investment would be used to accelerate growth and launch new products.

The bank raised $70 million in a Series C investment round in May 2018 led by Menlo Ventures, and has raised a total of $300 million from investors to date.

The bank, which previously sat down for an interview with Mobile Payments Today, said it has grown the number of active accounts to 3 million, up from 1 million last summer.

Topics: Financial News, Mobile Banking

Companies: Chime

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