Chime Financial Inc., a fintech company that offers free banking services, made its public debut on the stock market, sending its shares soaring. The company generates revenue through interchange fees and does not charge customers for checking accounts. However, concerns arise about whether Chime can sustainably grow in this competitive space.
The IPO comes amid growing interest in fintech companies among investors, following successful listings from Circle Internet Group Inc. and eToro Group Ltd. Chime’s debut is seen as a positive sign for the sector, with Wall Street eager to invest in innovative financial technology firms.
Source: https://www.marketwatch.com/story/chime-built-a-business-on-free-banking-and-the-stock-is-soaring-in-its-debut-2473ca20