Chime IPO: Stock price today as financial services startup makes closely watched Nasdaq debut
If it performs well, it could signal positive investor appetite for technology public offerings and the IPO market as a whole. Here's what to know about Chime's IPO.
What is Chime?
Chime Financial, Inc. is a fintech company. It was founded in 2012 and is based in San Francisco. The company offers banking products without the associated fees that traditional banks tack onto accounts.
For example, many of Chime's online banking services don't have a minimum balance, or monthly service or overdraft fees. These fees are major drivers of revenue at traditional banks.
So how does Chime generate revenue without them? The company says its business model is primarily based on interchange fees, which are the fees that merchants pay when they accept a card payment.
Chime's services can be accessed on the web and also via iPhone and Android apps. Chime is not a bank but rather offers banking services. It has partnerships with Bancorp Bank and Stride Bank.
A diminished market cap
With Chime's IPO, the company is now valued at approximately $11.6 billion, according to CNBC. However, that is less than half of its peak private valuation of $25 billion in 2021. In that year, Chime received a funding round of $750 million.
One reason for Chime's high private valuation in 2021, relative to its valuation today, was the pandemic. As Fast Company previously noted, in the early 2020s, fintech companies experienced a surge in service usage from consumers and garnered significant attention from investors as the pandemic unfolded.
Much of that excitement for companies operating in the fintech space has subsided in subsequent years. The market turmoil of 2025 has also made investors more cautious about companies operating in the finance sector and initial public offerings in general.
In May, another fintech company, the online brokerage firm eToro Group (Nasdaq: ETOR), went public for $52 per share. As of yesterday's close, ETOR shares are trading at $62.96 per share.
Chime by the numbers
On May 13, Chime filed a Form F-1 with the U.S. Securities and Exchange Commission (SEC). In the F-1 filing, Chime reported the following metrics as of March 31, 2025:
Active Chime members: 8.6 million
Active member growth rate since Q1 2022: 82%
Purchase volume: $121 billion
Average revenue per active member (ARPAM): $251
Gross margin: 88%
Transaction margin: 67%
When is Chime's IPO?
Chime priced its shares on Wednesday and is expected to begin trading today: Thursday, June 12, 2025.
What is Chime's stock ticker?
Chime's stock ticker is 'CHYM.'
What exchange will Chime shares trade on?
Chime shares trade on the Nasdaq Global Select Market.
What is the IPO share price of CHYM?
Chime's IPO price is $27 per share. That's higher than the expected IPO price of between $24 and $26.
The higher IPO price of $27 per share suggests that Chime believes there is a greater appetite for its shares than previously thought.
How many CHYM shares are available in its IPO?
According to a company press release, a total of 32 million CHYM were made available in its IPO.
Of those shares, Chime offered 25,900,765 Class A shares directly to the public. Existing company shareholders put up the remaining 6,099,235 shares.
How much did Chime raise in its IPO?
Chime raised approximately $700 million in its initial public offering. That consists of the proceeds from the 25.9 million shares the company sold directly.
Chime did not benefit from the sale of the 6 million shares sold by its existing shareholders.
How much is Chime worth?
At its $27 IPO price, Chime's market cap is now valued at approximately $11.6 billion.
What else is there to know?
Chime is the latest in a number of closely watched tech-focused IPOs this year. In addition to the aforementioned eToro, stablecoin company Circle Internet Group went public earlier this month. Both stocks have performed well since their debut, raising hopes for the IPO market more broadly.
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