Chime plans to go public in the US in 2025

Chime Financial The company reportedly plans to launch its initial public offering (IPO) in 2025.

The FinTech company is aiming to do so in the US, but has not yet hired any banks for the IPO, according to Bloomberg reported Friday (March 22), citing unnamed sources.

Chime did not immediately respond to PYMNTS' request for comment.

According to the report, Chime has been considered an IPO candidate for years. The company was worth $25 billion in 2021, but then the tech boom faded as interest rates and inflation rose.

Chris BrittCo-founder of Chime, said in December the company was “as ready to go public as a company can be” and was monitoring economic and stock market conditions, the report said.

Now the IPO market is recovering after two weak years, and tech companies are likely looking to accelerate IPO plans that they had previously postponed, the report said.

In January 2022, it was reported that Chime was preparing for one initial public offering that should arrive the following spring.

However, the company presented its initial public offering The plan was put on hold in February 2022 as the industry entered a “FinTech winter,” PYMNTS reported in November 2022.

At the time of this report, Chime announced that it would cut 12% of its spending staff to ensure the long-term success of the company.

In an emailed statement to PYMNTS at the time, the company said it was aligning its organization with priorities based on current market dynamics.

“As a result, we are eliminating some positions while continuing to hire for select others,” Chime said. “We remain very well capitalized and these steps will continue to position us for sustained success.”

Recently, on March 4, Chime announced that it had partnered with the company Above start free of charge Cashback Special feature. With the new Chime Deals, Chime members can take advantage of cashback opportunities on everyday spending.

On March 14, the company expanded the availability of free access to its in-app tax declaration Pilot program. This feature allows eligible Chime members to file both state and federal taxes directly through the Chime app.