Challenger Banking Picks Up Steam

6. July 2018.

No-fee mobile bank Chime recently announced a $70 million Series C funding round led by Menlo Ventures. With the Series C funding, the company has raised more than $100 million in total funding. Investors seem to have confidence in Chime’s business model because “it’s very clean with extremely low overhead,” remarked Rob Enderle, principal analyst at the Enderle Group. “Chime also appears to be where other banks need to go, and investors tend to invest in the future.”

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