Overview

• Chime priced its IPO at $27 per share, above the expected $24 to $26 range, raising $864 million and valuing the company at $11.6 billion.
• Shares opened at $43 and closed at $37.11 on debut day, marking a 37% gain from the IPO price and a market capitalization of $12.3 billion.
• The fintech generates most of its revenue through interchange fees and reported $518.7 million in quarterly revenue, up 32% year-on-year.
• Chime serves 8.6 million active members, 67% of whom use it as their primary bank, supported by $1.4 billion in marketing spend from 2022 to 2024.
• The strong market reception has renewed investor confidence in fintech IPOs and could prompt other high-growth players to follow suit.