Chime Revenue and Usage Statistics (2021)

David Curry

Updated: September 30, 2021

The future of banking is being pushed by alternate financial startups, which operate outside of the typical banking infrastructure. Chime, which offers a debit, credit and savings account, aims to do this through a commitment to fee-free mobile banking.

In the U.S., several technology companies are building financial platforms which do away with customer fees. Robinhood pioneered zero-commission stock trading and both Venmo and Square’s Cash App have made sending money to friends easy.

Alongside fee-free mobile banking, Chime also offers a $200 overdraft for free and access to over 60,000 ATMs for free. Other features include receiving a pay-check two days early and a credit builder service.

Instead of applying for a banking charter, Chime relies on two partner banks, The Bancorp Bank or Central National Bank, for FDIC-insured checking services and the procurement of debit and credit cards. It does not have any physical branches, similar to other neobanks.

It generates most of its income through a process called interchange, similar to European neobanks Monzo and Revolut. This is a small percentage that credit and debit cards charge for each transaction, which is typically 0.5 to 2% of the total transaction amount.

Chime is considered the most popular neobank in the U.S., with over 13 million active customers. It has also been able to maintain a lead even with European contenders Revolut, Monzo and N26 all launching in the U.S. over the past two years.

It also raised $750 million in July 2021, at a valuation of $25 billion. Expectations are that Chime will be one of the next fintech startups to IPO, joining Robinhood, Wise and Affirm which have all seen their value increase on the public market.

We have collected data and statistics on Chime. Read on below to find out more.

Chime key statistics

  • Chime generated $600 million revenue in 2020, mostly through a process called interchange
  • Chime has over 13 million customers, 8 million of which use Chime as their primary bank
  • In 2021, Chime was valued at $25 billion

Chime overview

Launch date 15 April 2014
HQ San Francisco, California
People Chris Britt (co-founder, CEO), Ryan King (co-founder, CTO)
Business type Private
Industry Online banking

Chime revenue

Year Revenue
2018 $80 million
2019 $200 million
2020 $600 million

Source: The Information 

Chime users

Year Users
2017 0.5 million
2018 1 million
2019 5 million
2020 10 million
2021 12 million

Source: Company data

Chime valuation

Year Valuation
2018 $0.5 billion
2019 $5.8 billion
2020 $14.5 billion
2021 $25 billion

Source: Forbes, TechCrunch

Chime vs US neobanks: users

Want to learn more about the mobile banking industry? Read our sector profile

Chime FAQ

How many countries is Chime available in?

Chime is only available in the U.S. and has not said if it plans to launch in other countries

What banks work with Chime?

The Bancorp Bank and Central National Bank are both partners with Chime

What is the total value of Chime’s assets?

Chime held $5.8 billion in assets in 2019

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