Chime Monetary Inc., a monetary expertise enterprise centered on fee-free companies, has tapped Morgan Stanley to guide its preliminary public providing, in keeping with folks acquainted with the matter.
The corporate is aiming to go public in 2025, in keeping with the folks, who requested to not be recognized as a result of the data is non-public. Nonetheless, the plans might change.
Representatives for San Francisco-based Chime and Morgan Stanley declined to remark.
The corporate provides bank-like companies to customers by way of an app, together with checking and high-yield financial savings accounts. Earlier this yr, Chime rolled out the choice for purchasers to entry as a lot as $500 of their paychecks earlier than they arrive.
Chime has been a intently watched potential IPO candidate. It had been valued at $25 billion in 2021, when fintech friends have been scoring sky-high valuations amid a funding increase pushed by low rates of interest.
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