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SF-based Chime, the patron cellular banking platform, has acquired NYC-based Salt Labs, a loyalty rewards platform catered in the direction of hourly and frontline employees that permits them to earn rewards primarily based on contributions to their corporations. Phrases of the transaction weren’t disclosed. “We’ve all the time believed that monetary progress begins with employment and must be centered across the major monetary account,” remarked Jason Lee, Founder and CEO of Salt Labs. “We’re thrilled to be a part of this subsequent stage of progress at Chime and to construct Chime Enterprise alongside the unbelievable workforce at Chime.”
We’ve all the time believed that monetary progress begins with employment and must be centered across the major monetary account. We’re thrilled to be a part of this subsequent stage of progress at Chime and to construct Chime Enterprise alongside the unbelievable workforce 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 embrace Third Prime, Logal Allin, Fin Capital, and Anthem Enterprise Companions. AlleyWatch solely coated Salt Labs’ seed spherical earlier this 12 months – Salt Labs Raises $8M for its Loyalty and Rewards Platforms for Hourly Staff
As part of the transaction, Lee, who additionally based Each day Pay, will be a part of Chime and head up a brand new enterprise unit Chime Enterprise, centered on integrating Chime into employment channels. This can be a one-of-a-kind alternative for Chime to amass an revolutionary worker rewards firm that has key employer relationships, and a founding workforce that has created a few of the most disruptive know-how within the enterprise earned wage entry area,” remarked Chime COO, Mark Troughton. “By way of this acquisition, we’ll purpose to accomplice instantly with employers to succeed in thousands and thousands of customers and introduce them to the Chime platform. We look ahead to leveraging Salt Labs’ present relationships with employers and constructing upon the Chime MyPay™ earned wage entry platform to additional deal with the wants of on a regular basis individuals.”
This can be a one-of-a-kind alternative for Chime to amass an revolutionary worker rewards firm that has key employer relationships, and a founding workforce that has created a few of the most disruptive know-how within the enterprise earned wage entry area. By way of this acquisition, we’ll purpose to accomplice instantly with employers to succeed in thousands and thousands of customers and introduce them to the Chime platform. We look ahead to leveraging Salt Labs’ present relationships with employers and constructing upon the Chime MyPay™ earned wage entry platform to additional deal with the wants of on a regular basis individuals. – Mark Troughton
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