Advances Chime’s vision to become the leading consumer technology company built to bank mainstream America

Bank subsidiary to add foundational piece to Chime’s vertically integrated platform

Expected to be immediately accretive to Chime’s EPS, with more than $100 million in net synergies

Chime® (NASDAQ:CHYM), America’s #1 choice for banking1, today announced that it has entered into a definitive agreement to acquire Stride Bank, N.A. ("Stride") for $590 million in cash.2 Stride is a nationally chartered bank that has been Chime's bank partner for more than seven years. Upon closing, Stride will become Chime Bank, N.A. and operate as a wholly owned subsidiary of Chime.

The transaction marks an important milestone in Chime’s evolution from industry challenger to category leader. Chime’s technology-driven, payments-led model has reshaped the industry and now helps more than 10 million Active Members3 make financial progress. The combination of Chime’s digital core, trusted brand, and primary account relationships with Stride’s national charter and bank infrastructure will create an end-to-end platform built for the AI era. This will strengthen key competitive advantages that have driven Chime’s industry-leading growth:

  • Faster product innovation for the AI era. Integrating ChimeCore, the company’s AI-native, proprietary technology stack, with Stride’s banking infrastructure will unify data, decisioning, and reduce handoffs. AI is allowing Chime to build faster than ever, and a subsidiary bank charter will allow for even more streamlined development of regulatory compliant products.
  • Increased resilience and member trust. Combining Chime’s modern technology with Stride’s scaled banking foundation will make the platform even more reliable and resilient. A direct connection between Chime and the bank behind member accounts will also deepen trust and give more consumers the confidence to make Chime their primary account.
  • Even stronger structural cost advantage. Owning the bank will eliminate partner-bank fees, reduce funding cost, and improve unit economics. The combined entity will be able to serve consumers across all 50 states and expand the addressable market.