With Klarna preparing for its public offering, many are wondering: Which fintech companies will follow suit?

There is a strong pipeline of venture-backed fintech startups that meet the key criteria for an IPO. Many of the top candidates are familiar names that have held off on going public until now.

To identify these potential IPO contenders, we used Crunchbase’s new forecasting tools and compiled a list of 12 fintech startups that have made waves in the industry.

Stripe and Chime: Leading the Pack
The list includes several international players, but the largest funding rounds belong to U.S.-based companies. Stripe, for example, is the top fundraiser and has long been under pressure to go public. Despite being the highest-valued private fintech company, Stripe is not in a rush to raise capital through an IPO. The company raised $6.5 billion two years ago in a Series I financing and recently set a $91.5 billion valuation with a tender offer for shares.

Chime, another U.S.-based digital bank, is closer to going public. Founded in 2012, Chime has raised $2.3 billion and offers free accounts to its users. The company is reportedly in the process of filing confidentially for an IPO.

Crypto and Blockchain Companies
Some crypto and blockchain companies are also in the mix. Circle, the developer of the USDC digital currency, has raised $1.1 billion and recently moved its headquarters from Boston to New York in preparation for an IPO. Another crypto company on the radar is MoonPay, a Miami-based payments provider for crypto. The company has raised over $650 million and recently acquired stablecoin startup Iron. San Francisco-based blockchain company Ripple is also frequently mentioned as a potential IPO candidate.

Global IPO Candidates
While many of the top fintech IPO candidates are U.S.-based, the list also includes several international companies. Airwallex, an Australian payments platform for businesses, has raised over $900 million in funding. In Southeast Asia, Jakarta-based Akulaku Group and Xendit are regional payment platforms making waves. From the Philippines, Mynt has also garnered significant investor interest.

Could 2025 Be the Year for Fintech IPOs?
So, will 2025 be the year we finally see a surge in fintech IPOs?

After a quiet period in the market since 2021 and early 2022, a wave of fintech public offerings would be a welcome development. However, the current market conditions aren’t ideal, with leading tech stocks experiencing a downturn in recent weeks.

The timing may be as good as it gets for unicorns eager to go public. The fintech space is growing, and the next big IPOs could be just around the corner.