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Condo – Chime

CHIME

Founded: 2012 Headquarters: San Francisco, USA CEO: Chris Britt

Britt and co-founder Ryan King started Chime with a simple premise: banks shouldn’ t profit from customers’ financial struggles. Their fee-free model targets Americans living paycheck to paycheck, offering early access to wages and automatic savings without traditional banking penalties. With eight million customers and US $ 8bn in monthly transactions, Chime has proven that serving underbanked communities can be hugely profitable. The key insight? Revenue from interchange fees rather than overdraft charges. Chris Britt, CEO, Chime fintechmagazine. com 27