PicPay, a Brazilian financial technology company, has filed paperwork for an initial public offering (IPO) in the United States. This is a new attempt to list on a U.S. exchange after the company pulled out of a planned IPO in 2021 because of market conditions. The fintech asked U.S. regulators to let it register so it could list on Nasdaq under the ticker “PICS.”
In the filing, PicPay said that its finances grew a lot in the first nine months of 2025. The company made a profit of 313.8 million reais (about $58 million) during that time, which is more than it made the year before (172 million reais). Its total revenue and financial income almost doubled from 3.78 billion reais the year before to 7.26 billion reais.
PicPay offers a range of digital financial services, such as mobile payments, digital wallets, savings, credit, and other tools that let you make payments using Brazil’s Pix system and QR codes. J&F, which also owns major meat producer JBS, controls the São Paulo-based fintech, which was founded in 2012.
The company looked into going public in the U.S. in 2021 with a much higher valuation, but they decided against it because tech stocks were having a hard time in the global market. The new filing comes after the U.S. IPO market started to pick up again in late 2025, but there was still some volatility because of macroeconomic factors and market selloffs.
PicPay plans to use the money from the offering for general business needs, such as working capital, operating costs, capital expenditures, and meeting regulatory capital requirements. Citigroup, Bank of America Securities, and RBC Capital Markets are some of the big investment banks that are helping to coordinate the proposed offering around the world.
This is part of a larger trend of international fintech companies looking to U.S. exchanges to get more capital and make their businesses more visible around the world. As market conditions change, competitors like Revolut, Kraken, and other fintech platforms have also said they want to go public in the U.S.
If PicPay’s IPO goes well, it will be a big step forward for the Brazilian fintech sector and will make investors more interested in digital finance companies in emerging markets.
Source: https://www.reuters.com/business/finance/digital-bank-picpay-files-us-ipo-2026-01-05/
