American digital banking firm Chime has been talking to investment banks about an initial public offering that would value it at $30 billion, according to Reuters.
The listing could happen by the end of the year, says Reuters, citing sources. This is in line with public comments from the company's CEO, Chris Britt, who said in September that a listing could happen within 12 months.
At the time, Britt said he would look into the best option to go public, including a traditional IPO, a direct listing or the increasingly popular Spac method.
Founded in 2013, Chime offers a fee-free, user-friendly banking app, which provides an accompanying debit card - on which the business earns interchange revenue - and auto-savings account.
The firm has taken advantage of the rise in digital banking during the pandemic and hit a $14.5 billion valuation in September off the back of a $485 million Series F funding round.