Chime Set to Be One of the Hottest Fintech IPOs of the Year at $11.6B Valuation

Financial technology company Chime Financial is set to begin trading today on the Nasdaq Stock Exchange under the ticker symbol “CHYM.” The neobank is expected to be hailed as the hottest fintech IPO (initial public offering) of the year, with an initial valuation of $9.8 billion and the potential of reaching $11.6 billion on a fully diluted basis. The company successfully priced its stock at $27 apiece, above the proposed range of $24 to $26 per share.

Chime is slated to sell a combined 32 million shares, of which 25.9 million are a fresh issue and the rest are being sold by existing shareholders. Of the total IPO proceeds of $864 million, the company will receive a little under $700 million, while the rest will go to the selling shareholders. At a price of $27 per share, Chime will initially be valued at $9.8 billion, but if stock options are exercised and underwriters buy additional shares, the fully diluted valuation could leap to $11.6 billion. The lead underwriters are Morgan Stanley (MS), Goldman Sachs (GS), and JPMorgan (JPM).

Chime Poised to Test Public Market Reception

Last week, stablecoin issuer Circle Internet Group (CRCL) launched its IPO and saw its shares surge nearly 280% from their initial price. Similarly, defense and space infrastructure company Voyager Technologies (VOYG) made a strong debut on the stock exchange yesterday.

Chime mainly offers its services by partnering with smaller, traditional banks, with most products carrying low or zero fees. Its MyPay service allows customers to access up to $500 of their salary in advance, while its SpotMe service offers overdraft protection. The company boasts an active user base of 8.6 million as of March 31, 2025. Chime originally planned to enter the capital markets in 2021, when it was valued even higher at $25 billion. However, a lukewarm stock market and uncertain economic environment compelled Chime to delay its IPO.

The digital bank earns interest income from offering checking and savings account services, as well as interchange fees from debit and credit card usage. Notably, Chime’s financials are improving gradually, with Q1FY25 sales rising 32% year-over-year and the company recording its first-ever quarterly profit during that period.

Visit the TipRanks’ IPO Calendar to see which companies are scheduled to make their public market debut in the coming week. The table displays the company name, exchange, IPO date, price, and number of shares offered.