Resurgence of IPOs in Fintech and Payment Industries
The aftermath of Trump’s trade war and the fintech slump of 2022 and 2023 has seen a resurgence in initial public offerings (IPOs) within the financial technology and payment sectors. The number of IPOs across all industries in the U.S. has surged, with 254 listings up until September 26, according to Stock Analysis 2025. This represents a 75% increase compared to the same period in 2024.
According to Forge Global’s recent investor outlook, the fintech IPO market has entered a new phase of revitalization. The firms in Forge’s fintech basket saw significant gains in the summer of 2025, reflecting renewed momentum in the sector.
High Standards for Going Public
David Roos, a partner at Core Innovation Capital, highlights that the bar for going public has been raised. Unlike the 2021 SPAC boom, which allowed less mature businesses to access public markets, the standards today are significantly higher. Fintech businesses have spent the last few years focused on profitable growth, streamlining unit economics, and building defensible brands. It’s no surprise that investors are keen to own these names, Roos said.
Increase in Private-Market Demand
Forge Global also noted the investor momentum outside of publicly traded companies. The recent fundraising rounds of fintech platforms Ramp and Kraken highlight the sustained private-market demand for scalable fintech platforms. The revitalization of the fintech IPO market is evident in the successful listings of Circle and Chime.
Fintechs are Here to Stay
Ben Prade, a partner at Bullhound Capital, believes that today’s fintechs are resilient, agile, and profitable. They understand their target customers, and their customers trust them. The AI revolution will allow fintechs to reduce costs and improve their service using the proprietary customer data they have built up. No longer challengers, fintechs have established a permanent place in the finance sector, Prade said.
Recent and Upcoming Fintech IPOs
Several payment and financial technology companies have recently priced their IPOs, or are planning to list soon. These include Circle, Klarna, Chime, Wise, Lendbuzz, Wealthfront, and SumUp.
Circle
Circle, a cryptocurrency company that issues the USDC stablecoin, went public in June. Circle’s successful IPO is seen as a bellwether for the digital asset industry.
Klarna
Klarna, a Swedish financial institution known in the U.S. for its buy now/pay later products, began trading on the New York Stock Exchange in September. This signals the strength of the broader fintech market.
Chime
Chime Financial’s shares surged 59% in its Nasdaq debut in June, valuing the digital bank at $18.4 billion. Chime has launched several consumer and back-end technology products in the past year.
Wise
Wise, a London-based company, plans to list in the U.S. while keeping its London listing as a secondary location. This will help accelerate the company’s expansion and provide access to the world’s most liquid capital markets.
Lendbuzz
Auto lender Lendbuzz filed for an IPO in September, testing the market for AI-powered auto lending.
Wealthfront
Wealthfront, a provider of wealth management and digital financial services, confidentially filed with the Securities and Exchange Commission for an IPO in June.
SumUp
London-based SumUp is reportedly planning an IPO for early 2026, aiming for a valuation of about $18 billion. The company provides point of sale technology to small businesses and has recently expanded into consumer payments.
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