visimoney
TLDR:
- Chime, the largest consumer-facing fintech in the country, is planning a potential IPO in 2025.
- Chime has more primary accounts than Chase, with over 38 million customers, which is more than the other top five fintech companies combined.
In a recent article, Bloomberg reported that Chime, the largest consumer-facing fintech in the country, is planning a potential IPO in 2025. The blockbuster IPO has been anticipated ever since Chime’s massive funding round in 2021 that valued the firm at $25 billion. With over 38 million customers, Chime has more primary accounts than Chase, outpacing the other top fintech companies combined. While Chime has not hired investment bankers yet, CEO Chris Britt mentioned in an interview in December that the company is IPO-ready.
Despite the scale that Chime has reached, the company is in no hurry to go public due to the checkered history of other fintech IPOs. Going public provides a level of gravitas and stability for fintech companies, allowing them to become large national brands. Additionally, it offers employees and investors an opportunity for liquidity. The IPO is expected to add depth and value to the fintech market and transform the financial landscape.
Related News:
- Latin America’s Banking as a Service Market expected to reach $2 billion in 2024.
- Mastercard partners with Alipay to connect digital wallets for cross-border payments.
- Irish fintech funding saw a 94% decline in 2023.
Overall, the potential IPO of Chime in 2025 represents a significant milestone in the fintech industry, highlighting the company’s growth and dominance in the market. This move could have far-reaching implications for the financial sector, signaling a shift towards more fintech-focused investments and opportunities for innovation.
