Anthony Hughes, Paige Smith and Katie Roof

Thu, Jun 12, 2025, 3:08 PM4 min read

(Bloomberg) -- Chime Financial Inc. rose 37% in its trading debut after pricing its shares above the marketed range to raise raising $864 million in the year’s sixth-biggest US initial public offering.

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The financial technology firm’s shares opened trading Thursday at $43 after selling for $27 in the IPO, rising as much as 66%. The shares closed at $37.11 in New York trading, giving the company a market value of $13.5 billion.

Accounting for employee stock options and restricted stock units, Chime has a fully diluted value of about $15.8 billion based on its filings with the US Securities and Exchange Commission. That fully diluted value is a sharp drop from Chime’s $25 billion valuation in a 2021 funding round at the peak of the tech boom.

“We don’t focus on short-term fluctuation of the stock — even if it goes up today, I’m sure there’s going to be other days that won’t be as great,” Chime Chief Executive Officer Chris Britt said in an interview with Bloomberg Television. “We remain focused on the long term.”

There’s been a modest rebound in US IPOs in the wake of President Donald Trump’s April 2 tariff announcement that spurred several companies to hit the pause button on their listing plans.

The average first-day jump for new offerings has been about 25% this year for US IPOs that raised at least $100 million — the most since 2020. In all, almost $27 billion has been raised in 156 IPOs on New York exchanges since Jan. 1, compared with $19 billion in 92 listings at this point last year, according to data compiled by Bloomberg.

At least two other significant IPOs are set to price next week before what is shaping up to be a summer lull in the US. Caris Life Sciences Inc. is seeking to raise as much as $423.5 million, while Slide Insurance Holdings Inc. is planning an offering of up to $340 million.

Chime’s investors include affiliates of DST Global, Crosslink Capital, Len Blavatnik’s Access Industries, General Atlantic, Menlo Ventures, Cathay Innovation and Iconiq, the filings show. After the IPO, Chime co-founders Britt and Ryan King will continue to hold more than 70% of shareholder voting power in aggregate.

Shawn Carolan, a Menlo Ventures partner and Chime board member, said he’s relieved there was a reprieve in the markets following the tariff-induced volatility in April.