Media reports that Chime Financial Inc., which specializes in financial technology and focuses on providing free services, has tapped Morgan Stanley to lead its initial public offering (IPO) of shares.
The mentioned information was published by journalists with reference to insiders who were aware of the details of the intentions of the specified fintech company. The informants of the media representatives used the right of anonymity, noting that in this case, it meant an issue that is discussed exclusively within the corporate space and does not belong to the category that can be conditionally described as publicly available news.
Insiders claim that Chime intends to go public next year. At the same time, the relevant plans are preliminary and may change.
Representatives of Chime, based in San Francisco, and Morgan Stanley declined to comment to the media on insider information about the intentions related to the listing.
The fintech company offers banking services to consumers through the app, including checking accounts and high-yield savings accounts. This year, Chime provided customers with the opportunity to access their paychecks for up to $500 before they arrive.
The fintech company has long been the subject of intense scrutiny in the context of its potential IPO. In 2021, the firm was valued at $25 billion. It is worth noting that the corresponding indicator was recorded at a time when the market capitalization of fintech companies showed growth characterized by what can be called ultra-fast rates. In 2021, there was a kind of financing boom in the fintech sector. The corresponding state of affairs was associated with low interest rates.
As we have reported earlier, Klarna Considers Possible 2025 US IPO.
