Mostly metrics
Run the Numbers
E28: The Economics of Consumer Fintech Businesses with Matthew Newcomb, CFO of Chime

E28: The Economics of Consumer Fintech Businesses with Matthew Newcomb, CFO of Chime

Matthew Newcomb, the CFO of Chime, joins host CJ Gustafson to delve into the complex world of the payments ecosystem. Matthew demystifies the business model of neobanks, different types of transactions, as well as how unit economics plays a key role in a neobank's business model and strategy. CJ's intro is about the controversy at Carta. Supercharge financial operations with Maxio. Request a demo at for 10% off your first year.


SPONSORS: Maxio | Tropic

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@matthewsnewcomb (Matthew)

@cjgustafson222 (CJ)

@TurpentineMedia (Turpentine)



(00:00) Intro

(00:40) What happened at Carta?

(12:59) Matt talks about the ways that FinTech companies monetize their business models

(15:40) Making money off of free products

(17:50) Chime and the bank partnership model

(22:10) On user or engagement activity and acquiring banking relations

(23:26) Sponsor: Maxio

(24:50) Innovating to get things to go faster without breaking the rules and stepping on some toes

(27:20) How have the competitive moats either for Chime or in the industry evolved over time?

(33:00) Does fundraising for companies like Chime any different than fundraising for a typical SaaS company?

(35:00) The differences in costs between an ACH, a wire and an instant transfer

(37:35) B2C neobanks and B2B neobanks - are there any key distinctions between the two besides the customer?

(38:24) The lifetime value of a Chime user

(42:44) Chime's North star metric

(45:00) On the qualities that separate a good CFOs from a great CFO

(49:40) Matt's example of something he's screwed up on the job

(51:00) What would Matt tell his younger self knowing what he knows today?

(52:10) Rep Yo Stack sponsored by Tropic 🌴

Mostly metrics
Run the Numbers
Run the Numbers is a twice-weekly podcast about financial metrics and business models, designed for ambitious people operating tech startups. It's a collection of things host CJ Gustafson (CFO at Partstech and writer of Mostly Metrics) has learned and thought about in the trenches as a tech CFO.
This show is meant to serve as a playbook of sorts for the stuff CJ wishes he knew earlier in his career, both from experience and from copying people smarter than himself.
Topics frequently touch upon Startup SaaS Metrics, Annual Budgeting, Financial Forecasting, Headcount, Equity, Dilution, and Fundraising – and how all of these drive business performance and growth.