Chime Financial, Inc. was founded in 2012 by Chris Britt and Ryan King with the vision to reinvent banking for everyday Americans by reducing fees and increasing transparency. The app officially launched in April 2014 on the Dr. Phil Show, offering fee-free checking and savings accounts via partner banks The Bancorp Bank and Stride Bank. It quickly gained traction among younger, underserved customers seeking simpler financial tools, scaling to over 38 million users by 2025.
Chime offers core financial services including checking, high-yield savings, peer-to-peer payments, an interest-free secured credit card, fee-free overdraft via SpotMe®, and early wage access through MyPay™—all with no minimum balances or monthly fees. Leveraging card interchange fees and banking partnerships, Chime positioned itself as a trusted alternative to traditional banks . Users especially value early paycheck access, simple credit-building, and budgeting tools embedded in the mobile experience .
Known for shaking up the industry, Chime was the top downloaded U.S. banking app in early 2021 and a pioneer in fee-free banking. It gained visibility through initiatives like stimulus check early access during COVID 19 and the 2018 acquisition of Pinch to support credit-building. Branding updates, FY25 expansions, and a New York office lease further signal its intent to build long-term credibility .
Chime went public in June 2025 under the ticker CHYM, raising around $864 million and achieving a valuation of approximately $11.6 billion. It now aims to deepen its payments infrastructure, expand tax filing and loan offerings, and solidify regulatory compliance while accelerating growth through technology innovation. With a focus on user centric features and sustainable fintech strategies, Chime continues scaling as a leading challenger in American banking.