Chime, the consumer fintech powerhouse, just filed to go public on the NYSE. On this podcast we’ll cover everything you need to know before they hit Wall Street👇
This is a fintech that:
→ Doesn’t take deposits
→ Doesn’t lend off its balance sheet
→ Still did $1.67B (+31%) in revenue last year, mostly from swipe fees
It’s built for the 70% of Americans who live paycheck to paycheck — and earns their trust (and interchange) by becoming the #1 card in their wallet.
But here’s the tradeoff:
✅ 88% gross margin
✅ 54 transactions per member per month
⚠️ MyPay credit losses nearly wiped out its new revenue stream
⚠️ Margins are getting squeezed (transaction margin dropped from 79% to 67% YoY)
The IPO math?
📉 Valuation whispers = $8B–$9B (down from their $25B Series G, 2021)
📈 Forward revenue multiple = ~4x–5x
💡 Which makes Chime one of the most interesting public fintech comps in years.
I unpack the full story — swipe economics, platform risk, and all — in this S-1 breakdown on Mostly Metrics.
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