US EditionFintech company Chime files for Nasdaq IPO
- Chime, a San Francisco fintech company, filed paperwork on Tuesday to go public on Nasdaq under the ticker symbol CHYM.
- The filing follows a partial IPO rebound and reflects emerging tech firms' interest in testing market appetite for risk this year.
- Chime reported 8.6 million active members at March’s end, with a year-over-year increase of about 23%, and average revenue per user of $251.
- Chime’s prospectus emphasizes that it operates as a tech firm rather than a banking institution and indicates it does not participate in the U.S. Federal Deposit Insurance Corporation.
- The filing suggests Chime may seek to capitalize on investor interest, joining a competitive market against large banks like JPMorgan Chase and Wells Fargo.
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Chime Financial IPO: Digital bank startup reveals revenue as it gears up for stock offering
Digital banking fintech firm Chime disclosed a rise in 2024 revenue in its IPO filing on Tuesday for a long-awaited U.S. stock market launch. Financial technology companies have increasingly entered the U.S. lending space, aiming to wrest market share from major players such as JPMorgan Chase, Bank of America and Citigroup. Chime’s revenue rose to $1.67 billion in the fiscal year ended 2024, up from $1.28 billion, a year earlier. The IPO window …
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