Chime Shares Surge in Successful Nasdaq IPO

Chime Financial debuted strongly on the Nasdaq, with shares soaring up to 59% above the $27 IPO price and closing at $37.11, giving the company a post-IPO valuation between $12.3 billion and $17 billion—still well below its 2021 private peak. The neobank raised $864 million and reported $1.7 billion in 2024 revenue, achieving profitability in Q1 2025 after years of significant losses. Chime focuses on low-cost, fee-free banking for younger and lower-income Americans and partners with FDIC-backed banks. The IPO's success is seen as a positive signal for the broader fintech sector and may encourage other high-profile companies to pursue public listings. Chime's journey has included early funding challenges, regulatory scrutiny, and rapid growth during the pandemic, highlighting its resilience in a volatile market. Strong investor demand suggests renewed optimism in the U.S. IPO market.