Chime Financial experienced a stellar Nasdaq debut, with shares surging by 59%, valuing the company at $18.4 billion. The successful IPO holds potential to rebuild confidence in the fintech industry and may pave the way for other high-growth firms to consider public listings.

New listings in the U.S. have bounced back sharply in recent weeks, with some eye-popping debuts stoking hopes of a sustained revival after a dry spell since April. On Thursday, fintech firm Chime climbed 59% in its debut,

Chime IPO has officially hit the stock market, raising $864 million by pricing shares at $27, slightly above expectations. Now trading under the ticker CHYM on Nasdaq, Chime's listing values the fintech at $11.