Fintech company chime files for NASDAQ IPO

On Tuesday, the company of financial technology presented the documentation to the public in NASDAd. The company intends to document under the symbol of “Chym” ticker.

“Chime is a technology company, not a bank,” he said. His prospectusIt is not a member of the US Federal Savings Insurance Corporation. Again, the company showed the American, Capital One, Citibank, JPMorgan Chase, PNC Bank and Wells Fargo.

Most new members of the new members who organize a direct deposit in advance, “with the most common banks,” said direct deposits in another place, “he said.

Due to the issuance of the file, Chime takes revenue from changers related to purchases related to Chime Debit cards and credit cards. Banks generally collect a number of amounts for a certain transaction for each transaction depending on the rate of card networks as a percentage of the operating value, as well as a visa. Banks then transmit money to money.

In the March quarter, Chime earned $ 12.9 million in revenue, earned $ 12.9 million. The income combed 32%, earnings from $ 15.9 million.

At the end of March, Chime had 8.6 million active members, about 23% during the year. The average income per active member was above $ 251 and above $ 231. All 50 states have members – do not operate outside the United States – and 55% of them are women. According to Chime, the average member age is 36.

Two-thirds of the members are looking for noise for “Primary Financial Relations”. Using the Term Card, which causes at least 15 purchases, or at least $ 200 in the former calendar month, applies to direct deposit areas. Members can use more than 45,000 anthammes without payment, which is a larger network than the highest US banks.

Chime, in addition to cards, offers high-income savings accounts, free tax documents and other services that have access to $ 500 without payment within 24 hours or immediately in $ 2.

Eligible members with direct deposit can borrow up to $ 500 to $ 500 for $ 500 for $ 500. The company does not pay late fees or ink interest. Chime’s SpotMe allows members to over $ 200, and the SpotMe allows matching members to increase overdraft overdraft to 20 temporarily each month.

“Since 2019 launched the SpotMe, the overdraft fee landing industry has reduced the expansion,” he said.

After the expanded drought, the initial public sacrifices seemed to be prepared again when President Donald Trump returned to the White House in January. Coreweave’s March its debut made a little urgent. However, Trump’s Tariff announcement of Trump in April, as well as a complaint, as well as trade platform, both online lender clarna and ticket market stubhub delay their plans.

Now this week’s debut tunti and digital health company Hinge health its price range For iPo on Tuesday, an expected offer will come soon. Chime’s social film, technical companies are the most developing sign, which is preparing to test the appetite of technical companies for the risk of the market. Last month, the design program said the starting figma Was introduced in secret for an IPO.

Chris Britt, Chime’s co-founder and CEO explained to CNBC in 2020 would be ready For an IPO within the next 12 months. However, in late 2021, the markets were selected in inflation, the central bankers became negative technology as wanting to raise interest rates.

Chime was established in 2012 and 965 employees from 1465 employees in San Francisco. It is 22nd in CNBC Chapter 2024 50 List of personalized companies.

Investors include Crosslink Capital, DST Global, General Atlantic, Iconiq and Menlo enterprises.

– CNBC’s Ari Levy contributed to this report.

Follow: We do not trust the fees, instead of making money, Chime CEO Chris Britt says