Chime Sees Boost Due to Wells Fargo Outage

Digital banking startup Chime saw a big boost last week after Wells Fargo reported an outage where customers could not access accounts; the challenger bank saw more than 10,000 new accounts in a 24 hour period during the outage; the company did not specifically say Wells Fargo was the cause but they heard from customers on social media that they were fed up with traditional banks; Chime is also close to closing a $300mn round at a $1.5bn valuation. Source.