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I knew @Chime was special when my good friend @MatthewSNewcomb went to work there back in 2016
@KateClarkTweets' fantastic profile in @theinformation details just how special:
From initial struggles to attract capital, it's now the most valuable fintech in
@KateClarkTweets' fantastic profile in @theinformation details just how special:
From initial struggles to attract capital, it's now the most valuable fintech in
1/ @Chime provides a fee-free debit card. It makes money taking a cut of every transaction it processes
It was founded in 2012 by @chrisrbritt and @ryanking
The first steps were tough:
- Chris was 40 years old
- Lived through the 2000 tech bubble
- Rejected by over 200 VCs
It was founded in 2012 by @chrisrbritt and @ryanking
The first steps were tough:
- Chris was 40 years old
- Lived through the 2000 tech bubble
- Rejected by over 200 VCs
2/ @Chime eventually raises money from @homebrew and @CrosslinkCap
It's not smooth sailing. They need a "bridge" round, but VCs think it's toxic
Enter rockstar @LaurenKolodny of @AcrewCapital. She leads the $9mm Series A extension. And it's OFF TO THE RACES.
It's not smooth sailing. They need a "bridge" round, but VCs think it's toxic
Enter rockstar @LaurenKolodny of @AcrewCapital. She leads the $9mm Series A extension. And it's OFF TO THE RACES.
3/ @AcrewCapital & @LaurenKolodny are investors in @LaHausCom. She's FANTASTIC. Helped us become Proptech leaders in 
& 
The article doesn't explain how @Chime's fortunes changed so drastically in 2016
The secret: killer combo of Lauren + @MatthewSNewcomb coming on board
& The article doesn't explain how @Chime's fortunes changed so drastically in 2016
The secret: killer combo of Lauren + @MatthewSNewcomb coming on board
4/ That reversal in fortunes was DRASTIC.
- Took @Chime 6 years to get to 1mm users
- By Feb 2020, it had 8mm
That puts it just behind Revolut (UK) and LatAm's darling @nubank (Brazil) ran by my buddy @velez_david
- Took @Chime 6 years to get to 1mm users
- By Feb 2020, it had 8mm
That puts it just behind Revolut (UK) and LatAm's darling @nubank (Brazil) ran by my buddy @velez_david
5/ Today, @Chime is a BEHEMOTH.
- Valued at $14.5 billion
- EBITDA profitable
- 2020 revenue of $600mm (3x YoY Growth)
- Projected 2021 revenue north of $1.2bn
- 600 employees
All thanks to the grit and perseverance of the founders, investors and management team
- Valued at $14.5 billion
- EBITDA profitable
- 2020 revenue of $600mm (3x YoY Growth)
- Projected 2021 revenue north of $1.2bn
- 600 employees
All thanks to the grit and perseverance of the founders, investors and management team
6/ @Chime's success has inspired many
My friend Daniel Autrique started @KlarMexico to provide the banking solutions enjoyed by Chime's customers to my native
It's no surprise that @LaurenKolodny and @AcrewCapital are backing this
https://techcrunch.com/2020/10/20/leading-a-15-million-round-prosus-ventures-makes-the-challenger-bank-klar-its-first-bet-in-mexico/
My friend Daniel Autrique started @KlarMexico to provide the banking solutions enjoyed by Chime's customers to my native
It's no surprise that @LaurenKolodny and @AcrewCapital are backing this
https://techcrunch.com/2020/10/20/leading-a-15-million-round-prosus-ventures-makes-the-challenger-bank-klar-its-first-bet-in-mexico/
7/ If you enjoyed this thread, follow me for more insight into:
- LatAm Tech
- Global Proptech / Fintech
- Scaling an early-stage company
- LatAm living
- LatAm Tech
- Global Proptech / Fintech
- Scaling an early-stage company
- LatAm living
8/ Link to the full article: https://www.theinformation.com/articles/how-14-5-billion-chime-proved-silicon-valley-investors-wrong
