San Francisco based fintech company Chime Financial has filed a registration statement with the US Securities and Exchange Commission for its initial public offering (IPO) of Class A common stock.
The fintech company has applied to list on the Nasdaq stock exchange under the ticker “CHYM.”
Go deeper with GlobalData
The number of shares and the price range for the proposed offering have not been disclosed.
The company intends to use the net proceeds from the IPO for general corporate purposes, such as working capital, operating expenses, and capital expenditures.
It may also allocate a portion of the proceeds to potential acquisitions or investments in complementary businesses, products, services, or technologies, although no specific agreements are in place.
The lead book-running managers for the IPO are Morgan Stanley, Goldman Sachs & Co., and J.P. Morgan, with Barclays serving as an additional book-running manager.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe underwriting team for IPO comprises Evercore ISI, UBS Investment Bank, Deutsche Bank Securities, Piper Sandler, and Wolfe | Nomura Alliance as 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 include fee-free mobile banking, facilitated through partnerships with Stride Bank and The Bancorp Bank.
Chime reported a revenue increase to $1.67bn for the year ending 2024, compared with $1.28bn in the previous year.
The company, which was valued at $25bn in 2021, has been in the news for confidentially filing for an IPO in December last year.
As of 31 March 2025, the company had over 8.6 million active members, with two-thirds using Chime as their primary financial service provider.
In the first quarter of 2025, these active members engaged in an average of 54 transactions per month, with three-quarters of these transactions being purchases made with Chime-branded debit and credit cards.
The company’s investors include Menlo Ventures, Forerunner Ventures, Sequoia Capital, Coatue Management, and Acrew Capital.
