Chime Financial Inc. filed publicly for an initial public offering, joining a growing number of candidates looking to go public in the brief window before the typical summer lull.

The no-fee banking services company disclosed net income of $12.9 million on revenue of $518.7 million for the first three months of 2025. That compares with net income of $15.9 million on revenue of $392 million a year earlier, according to its filing Tuesday with the US Securities and Exchange Commission. 

The company had filed its IPO plan confidentially last year, Bloomberg News reported. Chime gives users bank-like services via an app, including checking and high-yield savings accounts, though it doesn’t operate as a bank itself. Chime instead relies on banking services provided by Bancorp Bank and Stride Bank, it said in the filing.

The company had 8.6 million active users as of March 31, 82% more than it had three years earlier, according to the filing. During the year ended March 31, Chime handled $121 billion in transactions.

The company’s marketing includes a deal with the NBA’s Dallas Mavericks for its logo to appear on the team’s jerseys.

San Francisco-based Chime was valued at $25 billion after raising $750 million in a funding round in 2021, according to an announcement at the time.

Tuesday’s filing comes as companies resume IPO plans they paused when President Donald Trump’s tariff announcements roiled markets in April. The S&P 500 Index has climbed back most of the way since then to its all-time high in February, buoyed by an agreement between the US and China to de-escalate their trade dispute for 90 days.

Also on Tuesday, trading and investment platform EToro Group Ltd. is planning to price its IPO, likely above a marketed range, Bloomberg News reported. Earlier, Hinge Health launched its first-time share sale, which could raise as much as $437 million for the company and some of its investors.

The timing of Chime’s filing sets the company up for a listing as soon as in early June.

Chime’s largest investors include affiliates of DST Global, Crosslink Capital, Len Blavatnik’s Access Industries, General Atlantic, Menlo Ventures, Sino French (Innovation) Fund and Iconiq Strategic Partners, the filing shows.

Unlike traditional banks that rely heavily on the interest they earn on customer deposits and account fees, Chime makes most of its revenue from interchange fees on its branded debit and credit credit cards, according to the filing. Founders Chris Britt and Ryan King said in the prospectus that they see growth opportunities as Americans seek to escape paying bank fees.

“Banking remains one of the largest and most analog industries to be disrupted,” they said. “Like so many other categories, the winner will be a digital-first platform that relentlessly innovates and becomes indispensable in the lives of our customers.”

The offering is being led by Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. The company plans for its shares to trade on the Nasdaq Global Select Market under the symbol CHYM.