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Chime
Fintech
Chime is a publicly traded San Francisco-based neobank offering fee-free checking and savings accounts, early direct deposit access, and other consumer banking features.
$11.8B
-$41.74
56.04%
30 days ago
$74.48
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Chime was founded in 2012 by Chris Britt and Ryan King, entering the neobank category with a mission of providing accessible, low-fee banking to everyday consumers, particularly those who have historically been underserved or charged significant overdraft and other fees by traditional banks, building a mobile-first banking app that generates revenue primarily through interchange fees paid by merchants on debit card transactions rather than charging its own account fees to customers. Chime's most distinctive features have included letting customers access their paycheck up to two days early once their employer initiates a direct deposit, and a fee-free overdraft-style feature called "SpotMe" that lets eligible customers overspend their balance by a modest amount without incurring the punitive overdraft fees traditional banks often charge, both features specifically designed to appeal to consumers living paycheck to paycheck who are particularly sensitive to the cash flow timing and fee structures of traditional banking relationships. Chime completed its initial public offering on the Nasdaq stock exchange in 2025, marking its transition to a publicly traded company after years of substantial private venture funding, and has continued to compete with other digital-first banking apps including Varo Bank and Current in the broader neobank category serving similar demographics of fee-sensitive, often lower-to-middle-income consumers. Chime had raised very substantial venture funding from investors including DST Global and Coatue prior to its public listing, reaching a peak private valuation exceeding $25 billion.
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