The news: Fintech firm Chime is aiming for a valuation of up to $11.2 billion in its upcoming IPO—a significant drop from its $25 billion private valuation in 2021, per Reuters.

What it means for fintechs: After a lull in fintech IPOs due to rising interest rates and inflation, Chime’s offering is a bellwether for a potential sector revival.

Analysts believe Chime’s more modest valuation may attract more buyers. This could set a tone and trend when competitors seek to go public.