Chime, which is anticipated to have one of the most notable initial public offerings (IPOs) of 2025, announced a share price range of $24 to $26 on Monday.

This announcement implies a potential market capitalization of up to $11.2 billion. At the midpoint of the proposed range, Chime and several of its investors, including European venture capital firm Cathay Innovation, are expected to raise $800 million through the sale of shares in the IPO.

Although the current IPO market is relatively slow, Chime’s offering is not expected to be the largest of 2025. That distinction belongs to CoreWeave, which raised $1.5 billion and achieved a valuation of $23 billion. Notably, CoreWeave had initially anticipated a more substantial outcome from its IPO.

Chime’s IPO is noteworthy due to the company’s rapid revenue growth and declining expenses. In 2023, Chime reported $1.3 billion in revenue, which increased to $1.7 billion in 2024. Furthermore, the company has already generated over $518 million in revenue during the first quarter of 2025. Its losses have also decreased significantly, from $203 million in 2023 to $25 million in 2024.

One potential concern for Chime is that its last known private valuation, estimated by PitchBook to be $25 billion, exceeds the current target valuation. However, this disparity may not be a significant issue, as investor demand for the stock could lead to a higher IPO price. If retail investors express strong interest in the stock on its first day of trading, the company’s valuation could increase substantially.

A positive indication of the company’s potential is that several major shareholders, including Cathay Innovation, are not selling their shares at this time, according to Chime’s latest filing. Other significant investors, such as DST Global, led by billionaire Yuri Milner, Crosslink Capital, led by Michael Stark, and Access Industries, led by billionaire Len Blavatnik, as well as venture capital firms General Atlantic, Menlo Ventures, and Iconiq, are also holding their stakes.

The IPO is currently scheduled to take place during the week of June 9.