Chime, the San Francisco challenger bank, raised $200 million in venture funding, propelling the company’s valuation to $1.5 billion. It was able to surpass 3 million FDIC bank accounts and claims to be the fastest growing U.S. challenger bank. With Americans, particularly millennials, looking for another way to bank, Chime has been benefiting. In May it raised $70 million at a $500 million valuation with Menlo Ventures leading that round. In late April Revolut raised $250 million giving it a valuation of $1.7 billion while N26 raised $300 million in January at a $2.7 billion valuation.

Source: Forbes March 05, 2019 13:52 UTC