Fintech company Chime has signed a definitive agreement to acquire its long-term banking partner, Stride, for $590 million in cash. The transaction is expected to close in the first half of 2027, pending regulatory approvals and customary closing conditions.
Following the acquisition, Stride will be rebranded as Chime Bank, N.A. and will function as a wholly owned subsidiary of Chime. Stride has served as a banking partner for Chime for more than seven years, providing the necessary national bank charter and infrastructure.
Chime leadership expects the integration of Stride’s national charter to accelerate the development of regulatory-compliant products. The company also anticipates structural cost advantages, including the elimination of partner-bank fees and improved unit economics.
CEO and Co-Founder Chris Britt stated that the acquisition aims to strengthen Chime’s position as a primary account provider. Brud Baker, Chairman and CEO of Stride, will continue to lead the entity as it transitions into a subsidiary of Chime.
