Following the recent announcement that app-only banking service Chime raised $485 million through a Series F round, CEO of the company, Chris Britt, sat down to discuss the funding round, as well as Chime’s future plans.
As previously reported, Chime is on a mission to help its members lead to healthier financial lives. The banking startup’s service was created to help customers avoid feeds, save money automatically, and improve their finances. It offers zero-fee mobile banking services, debit cards, and standard features like ATM access.
“We’ve created a new approach to banking that doesn’t rely on fees or profit from members’ misfortune or mistakes. Chime Members get a debit card, a Spending Account, a Savings Account, and a powerful app that makes financial automation simple and keeps members in control. The Chime app is available for iPhone and Android devices and has been featured as one of the best new Money Management apps on the App Store.”
Chime is now valued at $14.5 billion after its latest funding round. Britt recently shared with CNBC:
“Nobody wants to go into bank branches, nobody wants to touch cash anymore, and people are increasingly comfortable living their lives through their phones. We have a website, but people don’t really use it. We’re a mobile app, and that’s how we deliver our services.”
See Britt’s latest interview below.
