US fintech firm Chime files for IPO

GlobalData

Wed, May 14, 2025, 6:34 AM 2 min read

San Francisco based fintech institution Chime Financial has filed a registration connection with the US Securities and Exchange Commission for its archetypal nationalist offering (IPO) of Class A communal stock.

The fintech institution has applied to database connected the Nasdaq banal speech nether the ticker "CHYM."

The fig of shares and the terms scope for the projected offering person not been disclosed.

The institution intends to usage the nett proceeds from the IPO for wide firm purposes, specified arsenic moving capital, operating expenses, and superior expenditures.

It whitethorn besides allocate a information of the proceeds to imaginable acquisitions oregon investments successful complementary businesses, products, services, oregon technologies, though nary circumstantial agreements are successful place.

The pb book-running managers for the IPO are Morgan Stanley, Goldman Sachs & Co., and J.P. Morgan, with Barclays serving arsenic an further book-running manager.

The underwriting squad for IPO comprises Evercore ISI, UBS Investment Bank, Deutsche Bank Securities, Piper Sandler, and Wolfe | Nomura Alliance arsenic bookrunners.

William Blair, Canaccord Genuity, Keefe, Bruyette & Woods, A Stifel Company, First Citizens Capital Securities, and Texas Capital Securities are co-managers.

Chime's services see fee-free mobile banking, facilitated done partnerships with Stride Bank and The Bancorp Bank.

Chime reported a gross summation to $1.67bn for the twelvemonth ending 2024, compared with $1.28bn successful the erstwhile year.

The company, which was valued astatine $25bn successful 2021, has been successful the quality for confidentially filing for an IPO successful December past year.

As of 31 March 2025, the institution had implicit 8.6 cardinal progressive members, with two-thirds utilizing Chime arsenic their superior fiscal work provider.

In the archetypal 4th of 2025, these progressive members engaged successful an mean of 54 transactions per month, with three-quarters of these transactions being purchases made with Chime-branded debit and recognition cards.

The company's investors see Menlo Ventures, Forerunner Ventures, Sequoia Capital, Coatue Management, and Acrew Capital.

"US fintech steadfast Chime files for IPO " was primitively created and published by Retail Banker International, a GlobalData owned brand.

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