Chime's IPO Signals a New Era in Fintech
Financial technology firm Chime is eyeing a significant IPO in the U.S. stock market, showcasing robust revenue growth and strong investor backing. With a valuation of $25 billion, Chime signals a promising future amid recovering markets and trade progression, supported by major Wall Street entities.
Chime, a prominent player in the digital banking space, is gearing up for a highly anticipated IPO in the U.S. stock market, according to its latest filing on Tuesday. The fintech firm revealed impressive revenue growth, reaching $1.67 billion in 2024, compared to $1.28 billion the previous year.
This move positions Chime among financial technology companies targeting a larger stake in U.S. lending, traditionally dominated by JPMorgan Chase, Bank of America, and Citigroup. The IPO, driven by a recent market resurgence amid positive trade talks, may pave the way for other tech firms considering public listings.
Co-founded by Chris Britt and Ryan King in 2012, San Francisco-based Chime has attracted substantial private investment, with its latest valuation hitting $25 billion. As the company prepares to list on Nasdaq under 'CHYM', major firms like Morgan Stanley, Goldman Sachs, and J.P. Morgan are leading the underwriting.
(With inputs from agencies.)
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