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Like a fintech heavyweight stepping onto a global stage, PicS has formally filed for a U.S. initial public offering, signaling its ambition to bring Brazil’s fast-growing digital banking story to Nasdaq investors.

The Brazilian digital banking platform, operating under the PicPay brand, submitted its registration statement to the U.S. Securities and Exchange Commission on Monday, seeking to list its Class A common shares on the Nasdaq Global Select Market. The offering is being guided by White & Case LLP, with Davis Polk & Wardwell LLP advising the underwriters.

Deal Details Still Taking Shape

Price and Share Count Undisclosed

The filing leaves key numbers open-ended for now. PicS has not yet set the number of shares to be sold or the anticipated price range, according to the SEC documents.

Still, one cornerstone has already been laid. Bicycle Management Company LLC, a Latin America-focused growth equity firm, has stepped forward as an anchor investor, signaling its intention to purchase $75 million worth of PicS Class A shares in the offering.

Under the terms disclosed, Bicycle Management’s shares will be locked up for six months following the IPO’s closing, aligning it with long-term investors. The filing also notes that underwriters, as a group, will receive the same discount on shares.

A Digital Banking Giant at Home

PicPay’s Reach Across Brazil

In a press release issued Monday, the company said PicPay ranks as Brazil’s second-largest digital bank by customer count. The platform offers a broad menu of financial services, from digital wallets and credit cards to “buy now, pay later” options and insurance products.

PicPay reports serving more than 66 million customers nationwide — a scale that underscores why its Nasdaq bid is drawing attention beyond Latin America.

Growth Plans Behind the IPO

The SEC filing says proceeds from the proposed offering would be used to expand PicPay’s product lineup, roll out new services and further diversify its business model, reinforcing its position in Brazil’s competitive fintech market.

PicPay declined to provide additional comment on Monday.

Banks and Advisors Line Up

According to the announcement, Citigroup, BofA Securities and RBC Capital Markets are acting as joint global coordinators for the IPO. Mizuho and Wolfe Nomura Alliance are serving as joint bookrunners, with FT Partners named as co-manager.

PicPay is represented by White & Case LLP, while the underwriters are advised by Davis Polk & Wardwell LLP.