CNBC reported that Chime, the San Francisco-based company offering a mobile phone app to help members avoid bank fees and save money automatically, announced a $485 million Series F funding round that values the company at $14.5 billion.
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Comparatively, stock brokerage company Robinhood, which raised $200 million last month, has a valuation of $11.2 billion.
Investment firms participating in Chime’s latest round include Coatue, Iconiq, Tiger Global, Whale Rock Capital, General Atlantic, Access Technology Ventures, Dragoneer and DST Global, according to CNBC. The new funding brings Chime to $2 billion in investment funds raised since its inception in 2013, according to Crunchbase data.
Back in December, we reported that Chime had secured $700 million across two mega-rounds–a Series D and Series E–in 2019, pushing its valuation to $5.8 billion.
Illustration: Li-Anne Dias