Chime, the US neobank focused on underserved consumers, priced its initial public offering on the Nasdaq on 11 June 2025 at $27 per share, above its marketed range of $24 to $26, raising approximately $864 million in proceeds including $165 million from selling shareholders. The deal values the company at roughly $11.6 billion on a fully diluted basis.
The company is backed by DST Global, General Atlantic, and ICONIQ.
COMPARISON WITH 2021 VALUATION
Chime's IPO valuation of $11.6 billion compares with the $25 billion valuation assigned to the company during its final private funding round in 2021.
Of the proceeds, $165 million was raised on behalf of selling shareholders. The company itself retains the majority of the gross proceeds for corporate purposes.
BUSINESS MODEL
Chime's core proposition has centred on fee-free accounts and early access to direct deposit paydays, delivered through a smartphone application.
The company works through bank partners rather than holding its own banking charter.