Brazil’s Digital Bank PicPay Is Heading for Wall Street
Hey Digital Banking Fanatic,
One of Brazil’s biggest mobile banks is dusting off its IPO dreams.
PicPay, yes, the same FinTech backed by the billionaire Batista family (of JBS fame), is reportedly preparing a $500 million U.S. IPO, working with Citi, RBC, and Bank of America.
After pulling its first listing attempt in 2021 (back when it aimed for an $8B valuation), the timing now looks far better: the company doubled revenue year-on-year to R$4.5B and turned a solid profit of R$208M ($38M) in the first half of 2025.
If successful, this could mark the biggest Latin American digital bank listing since Nubank’s blockbuster debut, and another sign that public markets are warming up to FinTech again.
But with the SEC still dealing with a partial shutdown, timing could be everything.
Scroll down👇 to read what else is happening across the digital banking world today.
Cheers,
INSIGHTS
📈 Revolut 🆚 Nubank
The numbers tell a fascinating story👇
NEWS
🇺🇸 Brazilian FinTech PicPay is reportedly seeking $500 million in a US IPO. PicPay offers financial services including digital wallets, cards, loans, and investments, and reported 208.4 million reais in profit on 4.5 billion reais in revenue in the six months through June 30.
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