Chime, the consumer finance fintech company currently valued at $25 billion, has now officially filed for an initial public offering (IPO). The announcement comes on the heels of a notable $33 million sponsorship agreement with the Dallas Mavericks. The significance of this partnership Chime’s growing footprint in the financial technology industry is further underscored by this partnership. This sponsorship aligns with the tenure of Cynthia Marshall, who served as the Mavericks’ CEO from 2018 until December 2024 and currently holds a position on Chime’s board.
During Marshall’s leadership, Chime became an official sponsor of the Mavericks, further integrating the company’s brand into the sports community. Among the provisions of the deal, Chime negotiated wide-ranging marketing activations, including having its logo featured on the men’s team’s jersey. Chime has already won a three-year, $33 million contract. This step illustrates their approach to maintaining top-of-mind awareness and reaching the mass market.
Over the past several years, fintech Chime has emerged as a primary player in consumer banking services. They offer checking accounts, savings accounts, debit cards and credit cards. With a user base of 8.6 million active customers, the company is making significant strides in the competitive fintech landscape. Chime expects to bring in about $2 billion in revenue this year. The company is getting close to profitability, a testament to its solid business model.
This is fueled by the company’s strong financial performance, including surprising growth the past few years. Meanwhile, in 2023, Chime lost $203 million on nearly $1.3 billion in revenue. The next year continued the trend of gains, with first-quarter revenues hitting $519 million dollars. Though these losses continued to plague the firm, Stadler believes overall they are on a positive financial trajectory and increasing operational efficiency.
Chime has been one of the most successful investment magnets since its founding, raising a total of $2.65 billion as a private company. Its last round of funding in 2021 pegged its value at a staggering $25 billion. A half dozen venture capital firms, including Forerunner Ventures and Homebrew, have strongly invested in Chime. This support cements Chime’s place as a powerful player in the industry.
Now that Chime’s IPO is finally within reach, the company is facing a lot of deserved scrutiny over its financial health and market position. As for Rivian, in 2024, the company finished the year with $1.67 billion in revenue—and losses of $25 million. These numbers show just how much room there is to grow. They expose the risks and difficulties that await Chime as it makes its ascent to public company-hood.
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