Chime has called in Goldman Sachs to help it prepare for an initial public offering that could value the digital banking giant at up to $40 billion, according to Reuters.
Chime picked Goldman Sachs after interviewing investment banks about a New York listing over the last few weeks, says Reuters, citing sources
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, racking up users. In August it raised $750 million at a $25 billion valuation.