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“Debit cards, not credit cards, are the dominant mass market choice for American consumers.” Today this seems like a ‘water is wet’ statement, but when we wrote that line in 2014, “challenger banks” were still a novel concept. Chime, which we funded a year earlier in 2013, always had a focus on the mainstream consumer. From test marketing in cities like Sacramento and Kansas City, to focusing on basics like no fee banking, the startup built a foundation for a durable, large-scale business.
Fast forward to 2019, Chime has surpassed 6.5 million accounts and recently closed a Series E financing to continue building out its banking platform. While Chime is still competing against incumbents worth hundreds of billions of dollars, the gap is closing quickly ;-) (and Chime already leads when it comes to consumer sentiment metrics such as NPS!). We’re thrilled with what the team at Chime is building and the impact that they are having on the financial lives of millions.
Join the Chime team because they’re hiring!