PicPay Files Registration Statement With SEC for Proposed U.S. Initial Public Offering
PicPay, Brazil’s second-largest digital bank by number of customers, announced today that it has confidentially filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of its Class A common shares.The number of shares to be offered and the expected price range for the proposed offering have not yet been determined. The completion of the offering will be subject to market conditions, regulatory approvals, and the completion of the SEC review process.Upon completion of the proposed IPO, PicPay intends to list its Class A common shares on the Nasdaq Global Select Market under the ticker symbol “PICS.”
Founded in Brazil, PicPay has rapidly grown into one of Latin America’s leading digital financial services platforms, offering a broad range of products including digital payments, peer-to-peer transfers, banking services, credit products, and merchant solutions. The company serves tens of millions of customers and continues to expand its ecosystem to support both consumers and businesses across Brazil.
Underwriters and Offering Structure
Citigroup, BofA Securities, and RBC Capital Markets are acting as joint global coordinators for the proposed offering. Mizuho and Wolfe | Nomura Alliance are serving as joint bookrunners, while FT Partners has been appointed as co-manager.
In connection with the proposed offering, Bicycle Capital, a growth equity investment firm focused on long-term, market-leading businesses across Latin America and other global markets, has provided PicPay with a non-binding indication of interest to purchase Class A common shares in the IPO.
Regulatory and Legal Disclosures
A registration statement relating to the proposed offering has been filed with the SEC but has not yet become effective. The securities described may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective under the U.S. Securities Act of 1933, as amended.This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations, or sales of securities will be made only by means of a prospectus and in accordance with applicable securities laws.
Availability of Prospectus
Once available, copies of the preliminary prospectus related to the proposed offering may be obtained from:
About PicPay
PicPay is the second-largest digital bank in Brazil by number of customers. PicPay began its operations with instant payments and the use of QR codes and has since evolved into a digital bank offering financial products and services such as digital wallets, credit cards, loans, “Buy Now Pay Later” (BNPL), investments and insurance to consumers and businesses. PicPay serves more than 66 million customers across Brazil, 42 million of whom were active in the third quarter of 2025, and reported an annualized return on equity (ROE) of 17.4% in the third quarter of 2025. In the first nine months of 2025, PicPay recorded total revenue and financial income of R$7.3 billion (approximately US$1.37 billion) and net profit of R$313.8 million (approximately US$59 million), with deposits held by consumers of R$27 billion (approximately US$5 billion) as of September 30, 2025.
