Chime is set to launch its initial public offering (IPO) on Thursday, targeting an impressive valuation of $11 billion. The fintech company aims to leverage its strong user base and financial technology solutions to attract investors in the competitive IPO market.

Chime Financial successfully went public with a $16.1 billion valuation, marking a significant moment for the fintech sector as the IPO market reopens. Despite a 36% decline from its 2021 valuation, Chime's shares rose 59% on their debut, signaling renewed investor interest in fintech IPOs after a period of stagnation. The company aims to establish itself as a leading financial services provider for lower-income consumers in the U.S.