Brazilian fintech Agibank files for US IPO, seeks to raise $1B

Investing.com -- Brazilian fintech Agibank filed for an initial public offering on the New York Stock Exchange on Wednesday, reportedly planning to raise as much as $1 billion.

The company, which intends to list under the ticker "AGBK", describes itself as a mission-driven financial services provider targeting underserved segments of Brazil’s population, including social security beneficiaries and private and public sector workers.

The fintech has reported strong growth in recent years. From 2022 to 2024, its active client base grew at a compound annual rate of 34.9%, while total revenues increased at 48.1%, reaching R$7,284.4 million for the year ended December 31, 2024. By September 30, 2025, Agibank’s active client base expanded to 6.4 million, a 77.2% increase compared to the same period in 2024.

Founded in 1999 by Marciano Testa as a banking correspondent called Agiplan in Caxias do Sul, the company operates 1,101 retail locations called Smart Hubs across 723 Brazilian cities with a combined population of more than 146 million. These locations are strategically positioned in high-traffic areas, often near competitors’ bank branches to attract customers frustrated with long wait times and poor service.

Agibank’s market share of benefits and payroll-related loans in Brazil stood at 3.6% as of September 30, 2025.

According to a Bloomberg report on Wednesday, the company is seeking to raise as much as $1 billion in this offering.

Goldman Sachs, Morgan Stanley and Citigroup will serve as lead underwriters for the offering, with Bradesco BBI, BTG Pactual, Itaú BBA, Santander, Societe Generale, and XP Investments also participating.

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