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SF-based Chime, the buyer cell banking platform, has acquired NYC-based Salt Labs, a loyalty rewards platform catered in the direction of hourly and frontline staff that enables them to earn rewards based mostly on contributions to their corporations. Phrases of the transaction weren’t disclosed. “We’ve at all times believed that monetary progress begins with employment and needs to be centered across the main monetary account,” remarked Jason Lee, Founder and CEO of Salt Labs. “We’re thrilled to be a part of this subsequent stage of development at Chime and to construct Chime Enterprise alongside the unimaginable crew at Chime.”
We’ve at all times believed that monetary progress begins with employment and needs to be centered across the main monetary account. We’re thrilled to be a part of this subsequent stage of development at Chime and to construct Chime Enterprise alongside the unimaginable crew at Chime. – Jason Lee
Based in 2022 by Lee, Alison Stapleton, Konstantin Getmanchuk, and Robert Regulation, Salt Labs had raised a complete of $18M in whole reported funding. Buyers within the firm embody Third Prime, Logal Allin, Fin Capital, and Anthem Enterprise Companions. AlleyWatch completely lined Salt Labs’ seed spherical earlier this yr – Salt Labs Raises $8M for its Loyalty and Rewards Platforms for Hourly Staff
As part of the transaction, Lee, who additionally based Every day Pay, will be a part of Chime and head up a brand new enterprise unit Chime Enterprise, targeted on integrating Chime into employment channels. This can be a one-of-a-kind alternative for Chime to accumulate an progressive worker rewards firm that has key employer relationships, and a founding crew that has created a few of the most disruptive know-how within the enterprise earned wage entry area,” remarked Chime COO, Mark Troughton. “Via this acquisition, we’ll intention to associate instantly with employers to achieve hundreds of thousands of customers and introduce them to the Chime platform. We stay up for leveraging Salt Labs’ present relationships with employers and constructing upon the Chime MyPay™ earned wage entry platform to additional tackle the wants of on a regular basis folks.”
This can be a one-of-a-kind alternative for Chime to accumulate an progressive worker rewards firm that has key employer relationships, and a founding crew that has created a few of the most disruptive know-how within the enterprise earned wage entry area. Via this acquisition, we’ll intention to associate instantly with employers to achieve hundreds of thousands of customers and introduce them to the Chime platform. We stay up for leveraging Salt Labs’ present relationships with employers and constructing upon the Chime MyPay™ earned wage entry platform to additional tackle the wants of on a regular basis folks. – Mark Troughton
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