Chime shares jump 66% after US$864m Nasdaq IPO
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The news: Chime Financial’s shares jumped as much as 66.4% in its trading debut after raising USD864 million ($1.32 billion) in an initial public offering priced above the marketed range at USD27.
The numbers: The shares opened at USD43 and rose as high as USD44.94, valuing the company at USD16.4 billion, with a fully diluted valuation of USD19.1 billion.
Chime and its investors sold 32 million shares, with orders exceeding 20 times the available shares, according to Bloomberg.
The context: Founded in 2012, Chime almost collapsed in 2016 while trying to raise a Series A extension, pitching more than 100 investors without success before landing a single term sheet.
The San Francisco-based fintech that offers bank-like services without a banking licence was later valued at USD25 billion in 2021 and only became profitable in early 2025.
It had 8.6 million active users as of 31 March, handled USD121 billion in transactions over the prior year, and posted USD13 million in net income on USD519 million revenue in Q1 2025.
The sources: Reuters, TechCrunch
