Banking App Chime Acquires Rewards Company Salt Labs

Chime is launching a new business unit to accelerate its growth through enterprise partnerships.

Published on Jun. 27, 2024
Banking App Chime Acquires Rewards Company Salt Labs
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Chime, a fintech company offering basic banking services, announced its acquisition of Salt Labs, an enterprise technology company specializing in employee rewards. The acquisition grants Chime access to Salt Labs’ enterprise client relationships, enabling it to fuel account and revenue growth.

Salt Labs offers a savings-oriented employee reward system that has partnered with businesses across various industries including transportation and hospitality. The company’s team and offerings will be integrated into Chime. Jason Lee, CEO and founder of Salt Labs, will spearhead Chime Enterprise, a newly launched business unit aimed at fostering growth through employer partnerships. 

In addition to expanding Chime’s business operations, the acquisition aligns with the company’s mission to empower financial progress among everyday people. Chime works to provide financial solutions that are both beneficial and accessible to a broader audience, reinforcing its business model that avoids reliance on consumer fees.

This article was written by Writer, a generative AI tool, using information from press releases and company blogs provided by our staff. All content was reviewed by a Built In editor and went through a fact-checking process to ensure accuracy. Errors can be reported to our team at [email protected].

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