Chime Acquires Salt Labs to Enhance Financial Progress for Hourly Workers
Slice of Finance Team
07/03/2024
Key Highlights:
Quotes
“ “This is a one-of-a-kind opportunity for Chime to acquire an innovative employee rewards company that has key employer relationships, and a founding team that has created some of the most disruptive technology in the enterprise earned wage access space.” ”
Mark Troughton, COO at Chime
Our Take:
Chime's strategic acquisition of Salt Labs is a significant move towards enhancing its enterprise capabilities and supporting hourly workers' financial progress. By integrating Salt Labs' technology and expertise, Chime positions itself to tap into new revenue streams and primary account growth through direct employer partnerships. This acquisition aligns with Chime's mission of empowering everyday people financially, and the creation of Chime Enterprise under Jason Lee's leadership is expected to drive substantial growth and innovation in the earned wage access space.
