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Brazilian fintech PicPay has filed with the U.S. Securities and Exchange Commission for an initial public offering of its Class A common shares, aiming to list on Nasdaq under the ticker “PICS.” The filing does not yet specify the number of shares or price range, and the deal remains subject to market conditions and completion of the SEC review process.
Key IPO details
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PicPay plans to list its Class A common shares on the Nasdaq Global Select Market under the symbol PICS.
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Citigroup, BofA Securities and RBC Capital Markets are named as joint global coordinators/lead underwriters, with Mizuho and Wolfe | Nomura Alliance among the joint bookrunners and FT Partners as co‑manager.
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Analysts at Renaissance Capital estimate the IPO could raise up to around 500 million dollars, though official pricing terms are not yet disclosed.
Company snapshot
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PicPay operates one of Brazil’s largest digital banking and wallet platforms, offering services such as payments via Pix and QR codes, credit cards, loans, BNPL, investments and insurance.
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The company reported about 42 million quarterly active consumers as of September 30, 2025, up roughly 12% from 37 million a year earlier.
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For the 12 months ended September 30, 2025, PicPay (PicS N.V.) booked approximately 1.7 billion dollars in revenue, and its SEC filing highlights strong recent revenue and profit growth.
Ownership and investors
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PicPay is controlled by J&F Participações, the investment holding company of Brazil’s Batista family, who also control meatpacker JBS and are expected to retain control after the IPO.
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A growth‑equity fund called Bicycle, led by former SoftBank executives including Marcelo Claure, plans to buy up to 75 million dollars’ worth of shares at the IPO price, according to the filing.
Use of proceeds and timing
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PicPay states that net proceeds will be used for general corporate purposes, including working capital, operating expenses, regulatory capital requirements and capital expenditures.
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The filing does not give a precise timetable for pricing or listing beyond noting that the IPO will occur after SEC review and subject to market conditions.
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