US digital bank Chime ‘seeks IPO’

US digital banking firm Chime has asked Goldman Sachs to assist with an initial public offering (IPO), according to sources reported by Reuters.

The news organisation’s sources said that the value of the IPO is likely to be around $40 billion and to be on the New York Stock Exchange (NYSE).

The digital bank, founded in 2013, does not charge monthly or overdraft fees and has no physical branches.

In June 2021, market research firm eMarketer estimated that Chime had 13.1 million US users.

The news comes after the US digital bank raised $750 million in a Series G funding round that valued the FinTech firm at $25 billion in August 2021.

"While Chime intends to be a publicly listed company someday, we have not made any decisions on underwriters and have no immediate plans for an IPO," a Chime spokesperson told Reuters in a statement.

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