TLDR Tech / Fintech
Chime to buy nationally chartered Stride Bank for $590 million
Chime is set to acquire its long-standing banking partner, Stride Bank, for $590 million. This acquisition offers Chime a quicker route to owning its banking infrastructure compared to applying for a new charter. The deal will integrate Stride's balance sheet, support Chime's expansion into lending, and is projected to generate over $100 million in net synergies. Additionally, Chime has increased its full-year revenue outlook to 26%-27% growth.
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