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.)
ALSO READ
Triveni Engineering Sees Profits Surge Amid Revenue Growth
Samvardhana Motherson's Q4 Profit Decline Despite Revenue Growth
U.S. Stock Markets Subdued Amid Fed Minutes and Nvidia Eagerly Anticipated Results
U.S. Stock Markets Face Volatility Amid Fed Minutes and Trade Tensions
Vipul Organics Reports 45.83% Drop in Q4 PAT Amidst Revenue Growth
Google News