Chime’s Stunning Comeback: Once Left for Dead, Now a $14.5B Wall Street Star
June 12, 2025 – New York, NY — In one of the most remarkable turnarounds in fintech history, Chime, the San Francisco-based neobank that nearly shuttered its doors in 2016 after being rejected by more than 100 venture capitalists, made its public debut on the New York Stock Exchange today with a stunning $14.5 billion valuation.
Just nine years ago, Chime’s founders Chris Britt and Ryan King were scrambling to keep their fledgling banking startup alive. Their idea — to reinvent banking for the mobile-first generation and eliminate fees — was widely dismissed as idealistic and unscalable. With limited user growth, meager revenue, and a crowded digital banking market, few believed Chime could compete with traditional banks or better-funded fintech rivals.
“We were running on fumes,” Britt said in an interview this morning. “We’d been turned down so many times that we started joking we were trying to set a rejection record.”
But the founders didn’t quit. Instead, they doubled down on their vision, improved the app experience, expanded customer support, and quietly built a loyal user base through word-of-mouth and a no-fee approach that resonated with younger Americans tired of overdraft penalties and rigid banking hours.
Chime’s big break came in late 2017, when the app’s early direct deposit feature — allowing customers to get paid up to two days early — went viral on social media. Growth skyrocketed. By 2020, Chime was the most downloaded banking app in the U.S.
Now, after years of steady momentum and pandemic-era tailwinds that pushed millions toward digital banking, Chime has finally made its Wall Street entrance — and investors are cheering. Shares surged 18% in early trading, giving Chime a market cap of over $17 billion.
Analysts see the IPO as a milestone not just for Chime, but for the entire fintech sector.
“This is a classic Silicon Valley comeback story,” said Amanda Lee, a senior fintech analyst at JP Morgan. “Chime was counted out — now it’s defining the future of consumer banking.”
The IPO marks a significant moment for founder-led, mission-driven startups — especially those outside the traditional mold of venture darlings. Chime never leaned heavily into crypto hype or risky loans, instead focusing on simplicity, transparency, and customer service.
As part of today’s listing, Britt and King rang the opening bell at the NYSE, visibly emotional as they addressed employees and long-time supporters.
“We’re proof that the best ideas don’t always win right away,” Britt told the crowd. “Sometimes, you have to fight for them — and wait for the world to catch up.”
With over 20 million account holders and $1 billion in annualized revenue, Chime now faces the challenge of operating under public market scrutiny. But if the company’s improbable rise is any indicator, they’re ready for the next chapter.
“People thought we were crazy,” King added. “Turns out, we were just early.”
