Overview

• Chime sold 32 million shares at $27 apiece in its Nasdaq offering, raising $864 million.
• Its stock opened at $43 on debut, climbing 59% to value the company at roughly $18.4 billion.
• Iconiq Capital, one of Chime’s earliest backers, opted not to sell any stake after a two-year investment courtship.
• The digital bank earns most of its revenue from interchange fees on debit-card transactions and focuses on low-cost services for younger and underserved consumers.
• The strong market reception has renewed investor interest in fintech and may encourage other high-growth firms to pursue IPOs.