Chime, the US-based financial technology company, has raised $864 million in its initial public offering after pricing shares at $27, above its marketed range of $24 to $26.
The IPO gives Chime a valuation of around $11.6 billion on a fully diluted basis and is one of the largest US fintech listings in recent years.
Founded in 2012, Chime partners with traditional banks to offer user-friendly digital banking products, including no-fee overdrafts.
The company, which had been valued at $25 billion in 2021, delayed its IPO earlier this year amid market turbulence.
With 8.6 million active users as of March, Chime earns most of its revenue from interchange fees and reported a narrower annual loss of 39 cents per share.