The fintech IPO window has reopened in 2025, with three highly watched listings: Klarna, Lendbuzz, and Chime. Together, they showcase how fintech continues to disrupt traditional financial services, each targeting different pain points across consumer banking, payments, and credit access.
Klarna: Scaling Consumer Payments Globally
Klarna, the Swedish-born pioneer of “buy now, pay later,” came to market with strong momentum. The company now serves 111 million active consumers and 790,000 merchants, generating $823 million in Q2 2025 revenue — up 20% year-over-year. Its U.S. growth has been particularly striking, with GMV accelerating 37% YoY in Q2 and 41% in June alone. Klarna is moving beyond BNPL into full-stack payments and financial services, including savings accounts, a global debit card, and installment financing. The IPO underscores investor demand for scaled consumer platforms that blend payments, credit, and retail partnerships.
Lendbuzz: AI-Powered Credit for the Underserved
Boston-based Lendbuzz went public with a mission to expand fair access to credit using AI-driven underwriting. Its core market is auto finance for consumers with thin or no credit files — a group representing roughly 119 million U.S. adults, or 46% of the population. By partnering with over 2,100 dealerships and leveraging machine learning models, Lendbuzz has delivered 74% CAGR in loan originations (2019–2024) and consistent profitability. Its IPO highlights how alternative data and AI are carving new niches in lending, especially in segments underserved by traditional banks.
Chime: Redefining Consumer Banking
Chime, long one of the most anticipated fintech IPOs, finally listed this summer. The company positions itself as the #1 destination for U.S. consumers earning up to $100,000 annually — a group often frustrated by fees and friction in traditional banking. Chime has rapidly converted millions of members into primary account relationships, with active users transacting 55 times per month on average. In its first quarter as a public company, Chime reported $528 million in Q2 revenue, beating estimates, and turned a surprise profit. The IPO reflects a broader market trend: consumer fintechs gaining scale by embedding themselves into everyday financial lives.
What These IPOs Signal for Fintech
These three offerings tell us a lot about where fintech is heading:
Scale matters. Klarna and Chime show that investors reward platforms with broad consumer adoption and brand recognition.
AI is unlocking new markets. Lendbuzz demonstrates how technology can profitably expand credit access in segments banks have overlooked.
Consumer trust is central. Each company emphasizes transparency, low fees, or alternative structures — a sharp contrast to legacy institutions’ reliance on overdraft and credit card fees.
The TAM remains massive. From Klarna’s push into U.S. payments to Chime’s ambition to become the largest provider of primary accounts, fintech’s runway for growth is still long.
2025’s fintech IPO class suggests the sector is entering a new phase of maturity. The days of “growth at all costs” are giving way to sustainable, scaled business models with clear paths to profitability.
💡 Want to dive deeper into fintech market dynamics, strategic trends, and company profiles? Check out our SeventhBiz Fintech Report for investor-ready insights into neobanking, embedded finance, BNPL, crypto infrastructure, and more.