Market: The “fintech” Chime is preparing an IPO with Goldman Sachs

by Krystal Hu, Anirban Sen and David French

(Reuters) – U.S. fintech firm Chime Financial has approached Goldman Sachs Group for a major IPO on the New York Stock Exchange, people familiar with the matter said.

This “fintech” could be valued at nearly 40 billion dollars (35 billion euros), the sources added, while on the basis of its last round of financing carried out in August by Sequoia Capital its value was estimated at around 25 billion. of dollars.

Asked, a spokesperson for Chime denied being advised by Goldman Sachs Group, which itself declined to comment.

A Chime spokesperson said in a statement on Friday: “While Chime intends to one day be a publicly traded company, we have not made any underwriter decisions and have no immediate plans for an IPO.”

Created in 2012 by Chris Britt and Ryan King, respectively former executives at Visa and Comcast, Chime offers services, including free discoveries, through partnerships with physical banks. The fintech is paid in particular by Visa when customers use their Chime credit and debit cards.

(Report Krystal Hu and David French in New York and Anirban Sen in Bangalore; French version Claude Chendjou)

Copyright © 2022 Thomson Reuters

Source link -84