Chime, a leading fintech startup last valued privately at approximately $25 billion, has set an ambitious range for its forthcoming initial public offering, aiming for a valuation of up to $11.2 billion. On Monday, the company announced a price range for its shares at between $24 and $26 each, signaling it could raise as much as $800 million in fresh capital for itself and selected existing investors.
Among the investors planning to sell shares in this IPO is the European venture capital firm Cathay Innovation. However, notably absent from the group of sellers are several of Chime’s largest stakeholders, including DST Global, Crosslink Capital, Access Industries, General Atlantic, Menlo Ventures, and Iconiq, according to company filings. Their choice to maintain their holdings could reflect confidence in the fintech company’s future potential on public markets.
Although a significant IPO by most measures, Chime’s anticipated market capitalization falls considerably short of the $25 billion valuation it secured during its last private funding rounds—a potential sticking point. Nevertheless, valuation discrepancies are hardly uncommon in current market conditions. Should investor demand prove strong, Chime could price its listing above the specified range or experience substantial share price gains on its debut trading day.
Financially, Chime continues to exhibit impressive growth momentum, coupled with narrowing losses. The company’s revenue soared from roughly $1.3 billion in 2023 to around $1.7 billion the following year. Significantly, in just the first quarter of 2025, revenues have already reached over $518 million. Moreover, its net losses have significantly decreased, shrinking from $203 million in 2023 to a mere $25 million last year.
While Chime’s IPO is poised to generate considerable interest, it will likely not secure 2025’s single largest public offering designation—that title currently goes to Coreweave, which previously raised $1.5 billion at a $23 billion valuation. Nonetheless, Chime’s offering is being closely watched as a rare bright spot amid relatively tepid IPO market conditions.
The IPO roadshow is set to commence imminently, with the company’s market debut anticipated sometime during the week of June 9.
