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.
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