Chime buys enterprise employee rewards platform Salt Labs

Salt Labs and its team will be at the center of a new “Chime Enterprise” unit that will seek to engage with employers.

Salt Labs was founded in 2022 by the founders of earned wage access giant DailyPay to provide rewards benefits that act like a savings account for everyday Americans. Since its launch, the company has worked with corporate clients in industries such as transportation, call centers and hospitality.

Salt Labs CEO Jason Lee will lead the new Chime Enterprise business, spearheading the digital bank’s move into the employer channel. Chime added an “earned wage” feature earlier this year.

Mark Troughton, COO of < Chime, says: “This is a once-in-a-lifetime opportunity for Chime to acquire an innovative employee rewards company that maintains key relationships with employers, and a founding team that has created some of the most groundbreaking technologies in the employment space. remuneration earned by the enterprise.

“Through this acquisition, we will strive to work directly with employers to reach millions of consumers and introduce them to the Chime platform.”