SoftBank helped the digital financial services provider raise a series G round led by Sequoia Capital, reaching a post-money valuation of $25bn.
Chime, a US-based mobile bank operator, has secured $750m in a series G round featuring telecommunications and internet group SoftBank’s Vision Fund 2, at a post-money valuation of $25bn, according to press reports.
The round was led by venture capital firm Sequoia Capital Global Equities and backed by private equity and hedge funds General Atlantic, Tiger Global and Dragoneer Investment Group.
Founded in 2013, Chime offers digital financial services through partnerships with regional banks, providing debit cards, spending accounts, savings accounts and special features such as SpotMe, a service which lets customers make debit card purchases that overdraw their account without paying fees.
The company plans to use the funding to further expand its operations and broaden its business reach, according to press reports. Following this round Chime is likely to consider a potential IPO in the US in the first half of 2022, as reported by Reuters.
Chime raised…
