US investors throwing money at hottest start-ups

January 6, 2020

The US challenger bank Chime quadrupled its valuation over the past nine months, and investors still offered it about $1.8bn when it decided to raise $500m in December, according to one person with direct knowledge of the process. 

“The momentum of the business is very strong,” said David Yang, an investor at British
billionaire Len Blavatnik’s Access Technology Ventures, the largest new participant in Chime’s
funding round. “Opportunistic is probably a good way to describe it — to continue fuelling
growth.”

 

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