Search Results for "Chime"
7 results for "Chime"
Deals 6
The Bancorp Bank and Chime Extend Private-Label Banking Partnership
The Bancorp Bank extended its private-label banking services agreement with Chime Financial, renewing its role in holding Chime member deposits and supporting FDIC-insured services. This continuation of one of the largest BaaS relationships in the U.S. underscores the ongoing importance of sponsor bank partnerships for leading neobanks. The deal reinforces The Bancorp's position as a top-tier BaaS provider.
Stride Bank Extends Banking-as-a-Service Partnership with Chime
Stride Bank announced an extension of its long-standing BaaS partnership with neobank Chime. The renewed agreement ensures Stride Bank continues to serve as a banking partner powering Chime's consumer financial products. This reinforces the importance of bank-fintech partnerships in the BaaS ecosystem.
Chime Holds 60% of US Digital Banking Market Without Bank Charter
Chime commanded approximately 60% of the US digital banking market as of May 2020, operating entirely through bank partnerships rather than its own charter. This underscored the dominance of the BaaS partnership model for scaling consumer fintech. The report also noted the broader landscape of fintech charter challenges.
The Bancorp Extends BaaS Relationship With Chime
The Bancorp Bank announced an extension of its Banking-as-a-Service relationship with neobank Chime in February 2020. The Bancorp supports Chime's spending and savings accounts as well as debit services. The extension reinforces The Bancorp's role as a key sponsor bank for major consumer fintechs.
Visa and Mastercard Invest in Plaid's $250M Series C Round
Visa and Mastercard both made strategic investments in Plaid as part of its $250 million Series C round, valuing the fintech infrastructure company at $2.65 billion. Plaid provides APIs that connect fintech apps to users' bank accounts, serving 80% of major fintech firms including Venmo, Robinhood, and Chime. The co-investment by both card networks signals their intent to benefit from the growth of the fintech ecosystem reliant on bank-account connectivity infrastructure.
Mobile Banking Fintech Chime Raises $200M Series D at $1.5B Valuation
Chime, a US mobile banking challenger that relies on bank partners to offer FDIC-insured checking and savings accounts, raised $200 million in Series D funding led by DST Global. The round valued the neobank at $1.5 billion. The raise underscores growing investor appetite for fintechs built on top of chartered bank infrastructure.