Chime Files for IPO After Tariff-Induced Delay

Chime, a digital neobank, will be going public on the Nasdaq under the ticker CHYM, according to a regulatory filing. The company had reportedly pushed its IPO plans following tariff-induced market volatility; it is among a growing list of financial technology startups with ambitions of going public soon.

While it notes that it’s a “technology company, not a bank” in its filing, Chime operates as a so-called neobank, offering services like checking and savings accounts digitally without access to physical branches. The company touts its lack of fees and points to traditional banks like Wells Fargo and Chase as major competitors.

In the first quarter of this year, Chime generated a profit of $12.9 million on $518.7 million in revenue, though it had not been profitable in the prior three years. In 2022, it had net losses of $470.3 million, which fell to $203.3 million in 2023 and $25.3 million in 2024. However, Chime has seen consistent revenue growth. From 2022 to 2024, its revenue increased 54% from $1.08 billion to $1.67 billion. It also grew its active members 23% year over year, reaching 8.6 million in the first quarter of this year.

The fintech company’s largest investors include Menlo Ventures, Iconiq Growth, and General Atlantic, according to the IPO document. Chime’s most recently disclosed funding round was a $750 million Series G in August 2021, which valued the company at $25 billion.

It’s a hot time for fintech IPOs. Chime’s filing comes on the heels of the stock and crypto trading platform eToro going public. The Swedish buy now, pay later service Klarna filed its IPO in March but delayed its plans in April, as did the ticketing platform StubHub, after President Donald Trump announced sweeping new tariffs.