Chime will be ‘IPO ready within the next 12 months’
Britt confirmed that Chime will be ready to launch its IPO within the next 12 months, although it hasn’t locked in an exact date as of yet.
Big investors have become increasingly interested in pre-IPO companies, a prime example being JPMorgan Chase’s newly minted trading team that focuses on cutting-edge companies like SpaceX, Airbnb, and Robinhood.
A range of firms participated in the latest Chime investment round, including Iconiq, Access Technology Ventures, and Whale Rock Capital just to name a few.
“Having folks who invest in public markets making high-conviction bets in your company is a great signal to future investors that these savvy guys who have great track records are investors in the business,” Britt said.
Chime was co-founded by Britt in 2013 and offers no-fee mobile banking services to customers with debit cards, ATM access, and banking accounts. Britt described Chime as “… a transaction-based, processing-based business model that is highly predictable, highly recurring and highly profitable.”
