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The company aims to go public in 2025, said familiar with the matter. Chime provides a digital-first mobile banking offering, though it does not operate as a bank itself, and is among a wave of such companies that have emerged around the world in recent years. The company has raised $2.65b to date. Investors include Menlo Ventures, Forerunner Ventures, Sequoia Capital, Coatue Management and Acrew Capital.
Chime scored a $25 billion valuation in 2021 at the peak of a technology boom that then faded as interest rates and inflation rose. Bloomberg previously reported that Chime hired Morgan Stanley for the lead underwriter position on its IPO, targeting 2025. The IPO market has shown signs of revival and optimism heading into next year, with companies in part buoyed by the positive stock market reaction to Donald Trump’s election as president.
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