Chime Shares Rise 37% in $864M Nasdaq IPO Debut

Chime Financial Inc., a digital neobank offering consumer-friendly banking services, made a strong debut on the Nasdaq after its initial public offering (IPO), raising approximately $864 million by pricing shares at $27 each. The company's shares opened at $43 and soared as high as $44.94 during its first day of trading, before closing at $37.11, representing a 37.44% increase over the IPO price and giving it a market capitalization of around $12.33 billion. Founded in 2012, Chime partners with FDIC-insured banks to provide fee-free checking accounts, high-yield savings, and credit-building products, attracting 8.6 million active customers, with 67% using Chime as their primary bank. The fintech's strong growth trajectory includes $1.67 billion in revenue for 2024 and a profitable first quarter in 2025, with an emphasis on transparency, low fees, and digital-first services. Investors and executives highlight the company's mission to promote financial progress and its sticky user base driven by innovative offerings like early paycheck access and overdraft protection without fees. Chime's successful IPO follows a wave of fintech listings, suggesting strong market interest in digital financial services.