Chime, a financial technology company valued at $25 billion, has filed for an initial public offering (IPO) as it continues to expand its footprint in the digital banking sector. Last week, the San Francisco-based company got everyone buzzing with its recent partnership with the Dallas Mavericks. It will be investing upwards of $33 million into the next three years! This sponsorship deal gave Chime the right to display its logo in huge letters across the Mavericks’ jersey fronts, along with many other marketing perks.
Cynthia Marshall, a board member at Chime, played a crucial role during her tenure as CEO of the Dallas Mavericks from 2018 until December 2024. Under her leadership, Chime became an official sponsor of the team, aligning itself with a prominent brand and increasing its visibility in the sports industry. This partnership greatly accelerated Chime’s market presence support. It showcased Chime’s commitment to help fund community programs related to the Mavericks.
In addition to consumer checking and savings accounts and debit cards, Chime has developed consumer credit cards and additional financial products. The company recently announced it has 8.6 million active users, a reflection of the increasing demand from consumers for convenient and affordable banking solutions. As it nears profitability, Chime is forecasting $2 billion in revenue this year.
In 2024, Chime claimed $1.67 billion in revenue while earning losses of $25 million. We believe the continued losses largely result from increased investments in future growth and customer-acquisition efforts. In 2023, the company’s revenues came close to $1.3 billion. It was losing ground with losses of $203 million in that span. The first quarter of 2025 was an encouraging picture, with revenues recovering to $519 million.
Chime has now raised a grand total of nearly $2.65 billion and remains a private company. In its most recent funding round in 2021, investors valued Chime at a staggering $25 billion. That’s run by notable investors, like Kirsten Green’s Forerunner Ventures and Hunter Walk’s Homebrew. Both firms continue to boast Chime as a portfolio company.
The strategic decision to file for an IPO comes as Chime positions itself for continued growth in the competitive fintech landscape. The firm is particularly interested in using its first-mover advantage and expanding its user network. The centerpiece of its marketing strategy has been the deal with the Dallas Mavericks.
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