From Yahoo Finance: 2025-05-14 09:34:00

San Francisco-based fintech company Chime Financial has filed for an IPO of Class A common stock with the US Securities and Exchange Commission. The company plans to list on Nasdaq under the ticker “CHYM.” The details of the offering, including the number of shares and price range, have not been disclosed. Chime intends to use the proceeds for general corporate purposes and potential acquisitions. The lead book-running managers for the IPO are Morgan Stanley, Goldman Sachs & Co., and J.P. Morgan.

Chime’s services include fee-free mobile banking and partnerships with Stride Bank and The Bancorp Bank. The company reported a revenue increase to $1.67bn for 2024 compared to $1.28bn in the previous year. Chime had over 8.6 million active members as of March 31, 2025, with two-thirds using it as their primary financial service provider. In the first quarter of 2025, active members engaged in an average of 54 transactions per month, with three-quarters using Chime-branded cards for purchases.

Chime was valued at $25bn in 2021 and confidentially filed for an IPO in December 2024. The company’s investors include Menlo Ventures, Forerunner Ventures, Sequoia Capital, Coatue Management, and Acrew Capital. The underwriting team for the IPO includes Evercore ISI, UBS Investment Bank, Deutsche Bank Securities, and others. William Blair, Canaccord Genuity, and other companies are co-managers in the offering.



Read more at Yahoo Finance: US fintech firm Chime files for IPO