Neobank Chime has filed for a U.S. initial public offering, a Securities and Exchange Commission filing showed on Tuesday.
Chime’s IPO filing signals a potential reopening of the IPO window for the U.S. market, which is sharply rising after news of a
The startup will trade on the Nasdaq Stock Exchange under the ticker symbol “CHYM.” The number of shares to be offered and the price range for the proposed offering have not yet been determined.
Morgan Stanley, Goldman Sachs & Co. LLC and J.P. Morgan will act as the lead book-running managers for the proposed offering. Morgan Stanley was previously
AFM Consulting principal Aaron McPherson believes that recent market changes bode well for Chime.
“I think they’ve been wanting to do this for a while, but delayed when the markets got roiled by the tariff uncertainty,” McPherson told American Banker. “That hasn’t necessarily gone away, but the mood does seem to be more positive. They are reliant on interchange for their business model, so anything like a court settlement that affects interchange would hurt them. That’s probably the biggest risk.”
Since its founding, Chime has taken the stance that the banking system doesn’t work for many ordinary Americans.
“Traditional banks rely on a net interest margin-based business model, with nearly 70% of their revenue coming from customer deposits and lending,” the fintech stated in the prospectus filing. “This approach is effective for the most affluent customers with higher credit scores, who have high deposit balances and large borrowing needs. However, this approach is ineffective for everyday Americans, most of whom live paycheck-to-paycheck and often have more modest account balances and limited credit histories.”
Chime currently has 8.6 million active members, defined by the company as users who have initiated a money movement in the past month. About 67% of those active members rely on Chime to serve as their primary financial relationship as of March 31, 2025.
Chime posted $519 million in revenue through the first three months of 2025, an increase of 32% from the same reporting period last year, according to its prospectus filed with the U.S. Securities and Exchange Commission. By another measure, that is also over half of the fintech’s full-year 2022 revenue.
The IPO filing comes hot on the heels of Chime’s announced office space expansion. The fintech announced on Thursday that it is signing a long-term lease for a flagship office in the Flatiron district of New York City, in the same office building that hosts Microsoft’s Manhattan office.
The San Francisco-based fintech currently has two primary offices, one in San Francisco and one in Chicago, as well as an assortment of smaller offices and co-working spaces across New York City. Chime’s New York flagship office space is set to open in late 2026 after construction is completed.
Chime’s other offices in New York City, including a downtown office space currently located at 101 Greenwich Street, will close once the 122 Fifth Avenue office space opens, according to a Chime spokesperson. The employees currently working at those spaces will subsequently move to the new location.
Chime currently employs a hybrid policy for both local and remote employees, who the company refers to as “Chimers.”
“Today, we embrace a hybrid work policy,” a Chime spokesperson said. “Our policy combines in-office days and trips to team and company-wide events depending on each Chimer’s location. Local Chimers come in a few days a week, while Chimers who live further away visit twice a year. The primary goal of our hybrid work policy is to ensure we all stay connected to our work and teammates, whether we’re local to a Chime office or remote.”
Last year, Chime was ordered by the CFPB to pay out