The fintech sector continues to evolve rapidly, transforming how consumers and businesses manage money, access credit, and invest. In 2025, several high-profile fintech startups are preparing to go public, offering investors a chance to buy into the future of finance. From digital banking to payment infrastructure and AI-powered tools, here are the top fintech IPO candidates and closely watched companies in 2025.
1. Stripe
Stripe, the global payments giant powering transactions for companies like Amazon, Shopify, and Google, remains one of the most closely watched IPO candidates in fintech. Although the company reached a $95 billion valuation in 2021, it conducted a successful internal share sale in February 2025 valuing it at $91.5 billion, signaling renewed investor confidence after a temporary decline in earlier years.
As of April 2025, Stripe has not publicly confirmed any IPO plans. Despite persistent industry speculation, the company continues to operate profitably and with ample liquidity, reducing the urgency for a public listing. Nonetheless, when Stripe does eventually go public—whether via IPO or direct listing—it is expected to be one of the most significant market events in fintech history.
2. Klarna
Swedish buy-now-pay-later (BNPL) leader Klarna has signaled its intention to go public in the near future. The company was once valued at $45.6 billion in 2021 but saw its valuation drop to $6.7 billion in 2022 amid tightening credit markets. As of late 2024, Klarna was working with banks to explore a potential IPO in 2025.
Klarna’s growing user base and entry into AI-powered shopping assistance have helped it recover momentum. It continues to dominate the European BNPL market and is expanding rapidly in the U.S. A successful IPO could help Klarna access fresh capital while strengthening its position in the highly competitive alternative lending landscape.
3. Chime
Chime, a U.S.-based neobank, has established itself as a major player in digital banking, boasting over 22 million customers. Known for its no-fee accounts, early paycheck access, and mobile-first approach, Chime has gained significant popularity among younger users. In late 2024, the company submitted a confidential filing for an IPO, aiming for a public debut in 2025.
However, due to a global trade war, recent market volatility, and a downturn in U.S. stocks, Chime has decided to delay its IPO plans. The company was previously valued at $25 billion in 2021 after a significant funding round led by Sequoia Capital. While Chime remains a strong contender in the neobank sector, its IPO timeline is now uncertain, contingent on more favorable market conditions.
4. Brex
Brex provides corporate credit cards and financial services for startups and SMBs. The company has pivoted from serving small businesses to focusing more on venture-backed startups and enterprise clients. It was last valued at $12.3 billion in early 2022.
In recent years, Brex has expanded into expense management and spend control solutions, positioning itself as a financial OS for fast-growing companies. An IPO in 2025 would give Brex the capital to scale its infrastructure and fend off competition from players like Ramp and Airbase.
5. Revolut
UK-based Revolut has evolved into a global financial super app, offering services ranging from banking and investing to cryptocurrency trading and international payments. As of early 2025, the company boasts over 50 million users across 38 countries. In March 2025, Schroders Capital Global Innovation Trust increased its stake in Revolut, elevating the company’s valuation to approximately $48 billion, up from $45 billion in a previous secondary share sale.
Revolut has been actively expanding its product offerings, including the launch of a commercial real estate lending unit and a private lending business. The company is also pursuing a full UK banking license, a critical step toward a potential IPO.
While there is no confirmed IPO date, industry insiders anticipate that Revolut may go public in 2025 or 2026. The company has expressed interest in listing on the Nasdaq, citing greater liquidity and the absence of stamp duty in the U.S. as key factors influencing this preference.
Revolut’s impressive growth trajectory, coupled with its expanding suite of financial services and strong financial performance, positions it as a formidable contender in the fintech space. Investors and market watchers alike will be keenly observing its next moves, as a potential IPO could mark a significant milestone in the company’s journey.
Not Going Public in 2025 – But Still Worth Watching
Plaid
Plaid, the financial infrastructure platform enabling applications like Venmo, Robinhood, and Coinbase to connect with users’ bank accounts, has experienced significant changes in its valuation and strategic direction. After a failed acquisition attempt by Visa in 2020 due to antitrust concerns, Plaid continued to grow independently, raising $425 million in 2021 at a valuation of $13.4 billion.
In April 2025, Plaid completed a $575 million funding round, resulting in a reduced valuation of approximately $6.1 billion—less than half of its 2021 valuation. This down round reflects broader market adjustments in fintech valuations amid higher interest rates and investor caution. The funds are primarily allocated to address employee tax obligations related to expiring restricted stock units and to provide some liquidity to current employees.
Despite earlier speculations about a potential IPO, Plaid has confirmed that it does not plan to go public in 2025. The company remains focused on expanding its product offerings, including services in lending, identity verification, credit reporting, anti-fraud, and payments. With a return to positive operating margins and a revenue growth exceeding 25% in 2024, Plaid continues to solidify its position as a critical infrastructure provider in the fintech ecosystem.
Conclusion
Fintech continues to be one of the most dynamic sectors in the global startup ecosystem, and 2025 is shaping up to be a breakout year for IPOs. Companies like Stripe, Klarna, and Chime are not just leading in innovation—they’re setting the pace for financial transformation.
For investors, these IPOs represent a chance to participate in the future of money. As always, due diligence is key—each company faces unique risks and market conditions. But for those looking to gain exposure to next-generation finance, these IPOs are worth a close watch.