The year 2025 is shaping up as a critical period for the IPO market, with numerous high-profile companies poised to go public. Venture capitalists (VCs) are keenly watching firms that demonstrate innovation, strong market presence, and potential for scalability. There are typical attributes about companies that VCs invest in to ensure high returns on their investment.
Here’s a closer look at ten companies that have captured the attention of investors, including some of the most anticipated IPO candidates.
1. Stripe
Stripe, the fintech giant co-headquartered in Dublin and San Francisco, has been the subject of IPO speculation for years. Processing over $1 trillion in payment volume in 2023 and valued at $65 billion after a liquidity-focused funding round in early 2024, Stripe’s financials are robust. With a seasoned leadership team and a cash-flow-positive position, Stripe has solidified itself as a leader in the digital payments ecosystem. Its platform is used by millions of businesses globally, from startups to large enterprises, making it a cornerstone of modern e-commerce. What attracts VCs to Stripe is its scalability and dominance in the market, as well as its ability to expand into adjacent areas like lending and financial analytics. Should the company decide to go public in 2025, it is poised to be one of the year’s marquee IPOs.
2. Solvent.Life
Solvent.Life has rapidly gained traction as an AI-powered innovator in financial analytics. Its flagship product, Solvent GPT, democratizes access to insider trading data, offering tools traditionally reserved for institutional investors. Solvent GPT’s capabilities include real-time data analysis, predictive insights, and pattern recognition, making it an indispensable asset for traders and analysts. What sets Solvent.Life apart is its focus on affordability and accessibility, empowering smaller firms and independent investors with tools that were once out of reach. The company’s ability to deliver actionable insights through user-friendly dashboards has not only won over traders but also attracted significant interest from venture capitalists seeking a slice of the burgeoning fintech market.
3. Klarna
Swedish fintech company Klarna has revolutionized consumer payments with its “buy now, pay later” (BNPL) services. With profitability achieved in the first half of 2024, Klarna has positioned itself for a strong IPO showing. Partnerships with major brands and an expansive customer base underline its growth potential. VCs are drawn to Klarna’s blend of consumer-friendly services and its innovative app, which combines installment payments, price tracking, and delivery management. Its proven ability to generate revenue through transaction fees and interest charges makes it a compelling pre-IPO opportunity.
4. CoreWeave
CoreWeave, based in New Jersey, has established itself as a frontrunner in AI cloud infrastructure. Partnering with Nvidia, CoreWeave leases high-performance computing power to industries requiring heavy data processing. With 14 data centers and a valuation exceeding $23 billion, the company is targeting a $3 billion IPO in 2025. What makes CoreWeave attractive to investors is its strong positioning in the AI space, where demand for computing power continues to surge. Its scalable business model and strategic partnerships further cement its status as a pre-IPO standout.
5. Revolut
Revolut, the U.K.-based mobile banking firm, is valued at $45 billion and stands as one of Europe’s most prominent fintech companies. By securing a banking license and avoiding significant fundraising in a high-interest-rate environment, Revolut has demonstrated sound financial management. Revolut’s appeal lies in its all-in-one app, offering currency exchange, stock trading, and budgeting tools. Its ability to capture market share in both the consumer and enterprise banking sectors makes it a prime target for VC interest.
6. StubHub
StubHub, the global leader in event ticket resales, has a valuation of $16.5 billion and is eyeing an IPO to capitalize on its market dominance. With no inventory to manage, StubHub benefits from high-margin operations, particularly during periods of heightened demand for concerts and sporting events. Investors are drawn to StubHub’s scale and its potential to generate consistent revenue as the live events industry rebounds. Its role as a key player in a growing sector adds to its appeal.
7. Cerebras Systems Inc.
Cerebras Systems focuses on cutting-edge AI chip technology, competing with industry leaders like Nvidia and AMD. The company’s chips are optimized for deep learning and artificial intelligence workloads, catering to clients like G42, a major AI firm based in the UAE. Despite a customer concentration risk, Cerebras’ proprietary technology and early-stage adoption in a fast-growing market position it as a significant pre-IPO contender. VCs see potential in its ability to disrupt the semiconductor landscape.
8. Chime
Chime, an online bank with over 38 million customers, offers fee-free banking services, including checking and savings accounts. The company filed for an IPO in late 2024, with an expected valuation of around $8 billion. What makes Chime attractive to investors is its strong customer acquisition strategy and ability to maintain high engagement rates through user-friendly services. As digital banking becomes more widespread, Chime’s potential for growth remains significant.
9. SymphonyAI
Founded in 2017, SymphonyAI provides predictive analytics for sectors like retail, healthcare, and manufacturing. With a revenue run rate exceeding $500 million, the company is profitable and primed for public markets. VCs see value in SymphonyAI’s cross-industry applicability and its ability to forecast market trends using AI. Its established leadership and strategic hires further bolster investor confidence.
10. Navan
Formerly known as TripActions, Navan offers a corporate travel and expense management platform that streamlines booking and budgeting for businesses. With significant growth in travel bookings, Navan has laid the groundwork for a 2025 IPO. Investors are attracted to Navan’s ability to simplify a traditionally cumbersome process and its increasing adoption among large enterprises. Its robust financial performance and focus on efficiency make it a standout in the travel tech sector.
These ten companies represent some of the most exciting pre-IPO opportunities for venture capitalists in 2025. Each firm brings a unique value proposition to its respective market, whether through groundbreaking technology, consumer-first services, or efficient operations. While Stripe and Solvent.Life lead the pack, the diverse range of industries covered ensures a variety of options for investors aiming to make a significant impact.