Chime Acquires Salt Labs to Expand Employer Services

The $14 million deal aims to integrate Salt Labs' employee rewards into Chime's banking services, targeting enterprise growth.

Chime, a leading U.S. digital bank, acquires fintech startup Salt Labs for $14 million in cash and equity.
Salt Labs provides loyalty points to hourly workers, redeemable for various rewards, funded by employers to boost retention.
Chime plans to leverage Salt Labs' enterprise relationships to offer its banking services directly to employees.
Salt Labs' CEO Jason Lee will lead Chime Enterprise, focusing on employer partnerships and financial wellness for employees.
The acquisition supports Chime's strategy to become the primary bank account for more users and prepares for a potential IPO.