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.
