Chime’s IPO is more like a secure base camp than a flag planted atop Everest. The IPO will renew VC interest in fintech—but the money won’t go to new neobanks.

Chime Financial Inc. rose 37% in its trading debut after pricing its shares above the marketed range to raise raising $864 million in the year’s sixth-biggest US initial public offering.Most Read from BloombergShuttered NY College Has Alumni Fighting Over Its FutureTrump’s Military Parade Has Washington Bracing for Tanks and WeaponryNYC Renters Brace for Price Hikes After Broker-Fee BanDo World’s Fairs Still Matter?

Online banking company Chime (NASDAQ: CHYM) finally went public after years of stagnation in the fintech IPO p