US fintech Chime reportedly submits confidential filing for potential 2025 IPO
Chime Financial has reportedly confidentially filed for an initial public offering (IPO) in the US, according to a report by Bloomberg.
Chime is reportedly aiming to go public in 2025
The Bloomberg report, citing sources familiar with the matter, says that Chime is targeting 2025 for its public debut, but its sources add that the timing has yet to be confirmed and plans may change.
Founded in 2012, Chime provides digital-first mobile banking solutions to more than 22 million users in the US, offering services such as cashback rewards, checking and high-yield savings accounts, a Visa-powered credit and debit card, earned wage access services, and more.
The company, now employing 1,500 people across three offices, reached a valuation of $25 billion after securing $750 million in a Series G funding round led by Sequoia Capital in 2021.
Chime acquired Salt Labs, a New York-headquartered employee rewards start-up, for an undisclosed sum earlier this year.
The news comes after Klarna, the Swedish BNPL firm, revealed in November that it had submitted an application to the US Securities and Exchange Commission (SEC) for the “proposed initial public offering of its ordinary shares”.
