Chime Files Nasdaq IPO, Highlights Growth and Risks

Chime Financial, a leading U.S. neobank, has filed for an IPO on the Nasdaq under the ticker 'CHYM', aiming to capitalize on renewed market optimism. As of March 2025, Chime reported 8.6 million active members, a 23% increase year-over-year, and disclosed net income of $12.9 million on revenue of $518.7 million in the first quarter of 2025, up from $15.9 million on $392 million in revenue a year earlier. The IPO will be underwritten by Morgan Stanley, Goldman Sachs, and J.P. Morgan, though details on the number of shares and price range remain undisclosed. Chime distinguishes itself by focusing on technology-driven no-fee banking services and generates most of its revenue from interchange fees rather than traditional banking sources. The company faces potential regulatory risks due to its reliance on payment processing rules. The offering comes amid improved market sentiment following eased tariff tensions but highlights ongoing challenges for fintech companies navigating changing regulations.