US mobile banking startup Chime has raised $200 million at a $1.5 billion valuation in a Series D funding round led by DST Global.
The round sees Chime triple its valuation from June, when it raised $70 million in Series C funding led by Menlo Ventures.
Founded in 2013, San Francisco-based Chime now boasts more than three million account holders for its fee-free, user-friendly banking app, which provides an accompanying debit card - on which the business earns interchange revenue - and auto-savings account.
The firm does not have a bank license, instead protecting accounts through a deal with The Bancorp Bank.
The new funding will be used to increase headcount and introduce new products related to short-term lending and credit building.