Chime lines up Goldman Sachs for IPO

Tuesday 25 January 2022 13:51 CET | News

Digital banking provider Chime has asked Goldman Sachs to help it with preparations for an initial public offering in New York, according to Reuters.

The financial technology startup will likely be valued at a substantial premium to its valuation of USD 25 billion from an August 2021 funding round led by Sequoia Capital.

Other banks will be added to the roster of underwriters in the run-up to its IPO, which could come as early as the spring of 2022.

Chime offers its services through partnerships with brick-and-mortar banks, including branded checking accounts with user-friendly features such free overdrafts. It makes money by earning a fee from payment processors such as Visa every time a customer uses a Chime debit or credit card.

Chime competes with other digital banking services such as Revolut, Current, and Varo.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: banks, Goldman Sachs, IPO, digital banking, startup
Categories: Banking & Fintech
Companies: Chime, Goldman Sachs
Countries: United States
This article is part of category

Banking & Fintech



Goldman Sachs

Discover all the Company news on Chime and other articles related to Chime in The Paypers News, Reports, and insights on the payments and fintech industry: