Chime, a financial technology company, faced 100 rejections from VCs a decade ago but now boasts a $12 billion valuation. They strategically position themselves as a fintech company, not a bank, allowing them to partner with banks for services like checking and savings accounts without the complex regulations of traditional banks. Chime focuses on a younger, digitally native audience, offering features like early access to paychecks and no hidden fees. Key takeaways include seeing rejection as fuel, differentiation, embracing the “not a bank” mindset, data-driven decisions, and perseverance.
