Chime Acquires Stride Bank for $590 Million in Cash
Fintech company Chime has agreed to acquire Stride Bank, a nationally chartered bank and long-time partner, for $590 million in cash. The deal is expected to close by the first half of 2027, after which Stride will become a wholly owned subsidiary renamed as Chime Bank. This acquisition marks an important milestone for Chime, aiming to integrate its digital platform with Stride's banking infrastructure and national charter to create a unified AI-focused financial ecosystem. Chime expects the transaction to enhance product development speed through AI integration while reducing operational costs by eliminating partner-bank fees. The combined entity will serve all 50 states and improve unit economics, consumer confidence in primary accounts, and regulatory compliance for new products. Chime also raised its full-year revenue forecast to between $2.76 billion and $2.77 billion with adjusted EBITDA of $481 million to $489 million. The acquisition is subject to approvals from the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board, along with other customary conditions.
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