Finally, Consumer Bank Chime finally progressed with his IPO by depositing his S-1 documents on Tuesday. Chime would have filed S-1 confidential documents in December.
S-1 deposits generally reveal all kinds of information, covering financial, legal and other risk factors. But the S-1 documents of Chime still have a lot of empty space. We do not know how many actions he hopes to sell or at what price. The chime could aim to raise $ 1 billion, according to the specialist in the IPO Renaissance Capital.
Nor do we know how many initiates by shares plan to sell as part of the IPO. This includes its main donors, a list that includes the global DST of the billionaire Yuri Milner, Crosslink Capital of Michael Stark, the access companies of the billionaire Len Blavatnik, as well as the companies of VC General Atlantic, Menlo Ventures (led by the member of the board of directors Shawn Carolan), the Sino French Innovation Fund and Iconiq, according to documents.
Chime raised $ 2.65 billion in total as a private company, including his latest increase in 2021 which estimated him at 25 billion dollars, said Pitchbook. As a result, there are many more VCs on his cap table. They too could be in big wages. For example, the forecast of Kirsten Green and Homebrew by Hunter Walk both claim a chime as a portfolio company.
Chime offered a detail that suggests that the company thinks that it will be a huge IPO. Chime has enlisted an army of large names investment bankers, including Morgan Stanley, Goldman Sachs and JP Morgan.
Finances show why investors can become excited. The company finished 2024 with $ 1.67 billion in revenues and $ 25 million in losses, compared to nearly $ 1.3 billion in revenues and $ 203 million in losses in 2023. Its turnover in the first quarter of 2025 was already $ 519 million. Thus, by Silicon Valley Math, it places it on the right track for $ 2 billion this year and almost profitability.
Chime offers verification, savings, debit and consumer credit cards and 8.6 million active users.
An interesting revelation in the documents. Its member of the Board of Directors, Cynthia Marshall, was CEO of Dallas Mavericks from 2018 to December 2024. Chime became a Mavericks sponsor during this period. He paid about $ 33 million over three years (2022-2024), which won him the Carillon logo on the team’s jersey, among other marketing advantages. Without this agreement, it could already have been profitable.
