Investing.com -- Today’s IPO for fintech Chime (NASDAQ:CHYM) opened for trading at $43 after pricing at $27, representing a 59% jump. Shares last traded at $39.03, representing a 45% increase.
The company priced 32 million shares in the offering, raising a total of $864 million for the company and selling shareholders. The company sold 25,900,765 shares, and existing shareholders sold the other 6,099,235 shares.
Morgan Stanley (NYSE:MS), Goldman Sachs&Co (NYSE:GS). LLC, and J.P. Morgan led the offering. The underwriters will have the option to purchase up to an additional 4,800,000 shares.
Chime, which offers unique financial products designed to help members achieve financial success, has 8.6 million active members and $121 billion in annual purchase volume. It has seen 82% active member growth since the first quarter of 2022.
The company posted revenue of $1.673 billion in 2024, up from $1.278 billion in 2023. In the first quarter of 2025, revenue was $518.7 million, versus $392 million in the first quarter of 2024. Adjusted EBITDA was $25.09 million in the first quarter of this year, versus $15.44 million in the same quarter last year.