SAN FRANCISCO, May 14, 2025 — Chime, the digital consumer banking startup headquartered in San Francisco, has officially filed to go public, submitting its S-1 registration to the Securities and Exchange Commission on Tuesday. The move ends years of speculation and follows a confidential filing reported in December.

Despite the long lead-up, the S-1 lacks key information. It does not disclose the number of shares to be offered or the expected pricing. Renaissance Capital estimates Chime could be targeting a $1 billion raise, though this remains unconfirmed by the company.

There’s also no word yet on how many shares existing stakeholders plan to sell. Chime’s major investors include DST Global, Crosslink Capital, Access Industries, General Atlantic, Menlo Ventures, the Sino French Innovation Fund, and Iconiq. The company has raised $2.65 billion in total private funding, with its last round in 2021 pegging its valuation at $25 billion, according to PitchBook.

Additional backers such as Forerunner Ventures and Homebrew are also in position for substantial returns, depending on IPO pricing and secondary market activity.

The company has aligned with top-tier underwriters—Morgan Stanley, Goldman Sachs, and JP Morgan—indicating confidence in the IPO’s potential scale and investor appeal.

Chime’s financials offer a clearer picture of its momentum. The bank closed 2024 with $1.67 billion in revenue and a loss of $25 million, a marked improvement over its $203 million loss on $1.3 billion in revenue the year prior. First-quarter 2025 revenue reached $519 million, which puts Chime on a projected $2 billion annual revenue pace, nearing profitability by Silicon Valley standards.

Currently, Chime offers consumer banking services including checking and savings accounts, debit and credit cards, and reports 8.6 million active users.

Among the more unusual disclosures in the filing is a sponsorship deal tied to board member Cynthia Marshall, former CEO of the NBA’s Dallas Mavericks. During her tenure, Chime became a prominent team sponsor, paying approximately $33 million from 2022 to 2024 in exchange for branding on team jerseys and other marketing benefits. The expense may have delayed profitability, the filing implies.

Chime’s IPO timing will test both public investor appetite and the broader fintech sector’s resilience. If successful, it will be one of the largest digital banking IPOs in recent memory.

Chime’s decision to file amid continued market volatility reflects a broader trend of late-stage startups finally making their public moves after extended private growth. The sparse details in the filing suggest a careful approach, likely meant to allow flexibility in pricing and timing. Whether investors respond enthusiastically may depend less on hype and more on the clarity of its financial trajectory in the quarters ahead.