Chime, Holders Seek $832 Million in IPO at Reduced Valuation

Chime Financial Inc. and some of its shareholders are seeking to raise as much as $832 million from an initial public offering, which could give the San Francisco-based fintech a fully diluted valuation of as much as roughly $11 billion, a significant drop from its peak valuation in 2021.

The company plans to market 32 million shares, including 6.1 million shares from selling shareholders, for $24 to $26 each, according to its filing Monday with the US Securities and Exchange Commission. At the top of that range, Chime would have a market value of $9.47 billion based on the outstanding shares listed in the filing.