Fintech investment platform Chime has filed an S-1 indicating its intent to launch an initial public offering (IPO).
Chime is seeking to trade shares on the Nasdaq under the ticker symbol CHYM.
Chime reports approximately 8.6 million users and 82% active member growth since the first quarter of 2022. Of their users, 67% of them rely on Chime as their primary financial services provider.
“Even if traditional banks were to focus on serving the core needs of everyday Americans, they are structurally limited due to rigid, high-cost business models, driven by their physical branch infrastructure and in-person delivery approach.”
Founded in 2012, as of March 31, 2025, Chime says it enabled $121 billion in “purchase volume.”
Chime is a neobank (a non-chartered Fintech providing bank-like services) that partners with The Bancorp Bank or Stride Bank, which are members of the FDIC.
Chime was created under the philosophy that the majority of citizens are not wealthy with approximately 75% earning up to $100,000 a year. As more services are focusing on the affluent, Chime wanted to provide a service that serves the masses.
Chime founders see a huge market in front of them, as most banking is antiquated, and they have only tapped into 5% of their core target market. The company claims to have a “radical cost-to-serve advantage and greater innovation velocity compared to traditional banks.”
In the 2025 fiscal year for the three months ending March 31st, Chime reported $518 million in revenue and a net income of $13 million.
For the full year 2024, ending December 31st, Chim registered $1.67 billion and a net loss of $$25 million.
More details on the offering, including valuation, will be available as it nears its listing date.
