Neobank Chime Raises $485M at $14.5B Valuation

Digital banking startup Chime has secured $485 million in funding, bringing its valuation to $14.5 billion. The round was led by Sequoia Capital Global Equities. San Francisco-based Chime offers fee-free mobile banking services and has grown to over 8 million account holders. The company plans to use the funds to expand its product suite and enhance its technology infrastructure.