Chime, a US-based neobank, is in talks with investment banks about an initial public offering (IPO) according to Reuters, which would give it a $30 billion valuation.

The San Francisco based company, founded in 2013, provides fee-free financial services through a mobile app, as well as an accompanying debit card and an auto-savings account.

The bank raised $485 million via a Series F funding round in September 2020, which valued the company at $14.5 billion, making it the most valuable US consumer FinTech company ahead of Robinhood.

In September, chief executive Chris Britt said he was open to different ways to go public including: a traditional initial public offering (IPO), a direct listing, or a Special-purpose acquisition company (SPAC).

As of February 2020, Chime reported 8 million account holders and had no physical branches.
“I probably get calls from two SPACs a week to see if we’re interested in getting into the markets quickly,” Britt said in September. “The reality is we have a number of initiatives we want to complete over the next 12 months to put us in a position to be market-ready.”

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