Chime Acquires Stride Bank for $590 Million

Chime Financial has made a significant move in its quest to become a bank. The fintech company is acquiring Stride Bank for $590 million in cash, with the deal expected to close in the first half of 2027. This acquisition will turn Chime into a bank for the first time.

Chime stock jumped 10% in after-hours trading following the announcement, currently trading at around $32.31. The company has chosen this path over applying for a de novo bank charter, citing a faster and more proven way to achieve full-stack ownership.

Stride Bank will be rebranded as Chime Bank, N.A. and operate as a wholly owned subsidiary after the deal closes. This brings together Chime's consumer technology and its proprietary ChimeCore platform with Stride's national charter, deposit base, and compliance infrastructure.