Brazilian fintech PicPay parent files for Nasdaq IPO

Investing.com -- Brazilian digital wallet provider PicS N.V. filed for an initial public offering in the U.S. on Monday.

The company, which operates PicPay, one of Brazil’s largest digital wallet providers, has named Citigroup, BofA Securities, and RBC Capital Markets as lead underwriters for the offering. Mizuho and Wolfe | Nomura Alliance will also serve as bookrunners.

PicPay has reported significant growth, with 42 million quarterly active consumers as of September 30, 2025, a 12.0% increase from 37 million in the same period of 2024. The company’s consolidated total payment volume (TPV) reached R$141 billion for the three-month period ended September 30, 2025, up 29.1% from R$109 billion a year earlier.

The fintech describes its mission as empowering consumers and businesses across Brazil with innovative solutions to redefine traditional daily finances. PicPay aims to break down barriers to financial services and create a more accessible financial ecosystem.

The company noted that out of its 42 million quarterly active consumers as of September 30, 2025, just 13.45% were users who only opened the app at least once during the quarter, an improvement from 15.00% in the same period of 2024.

PicS intends to list on Nasdaq under the ticker "PICS". No additional details about size or timing of the proposed offering were disclosed.

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