PicPay, a leading digital bank in Brazil, has filed a registration statement with the U.

S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of its Class A common shares. The company intends to list its Class A common shares on the Nasdaq Global Select Market under the symbol “PICS.”

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is contingent on market and other conditions, as well as the completion of the SEC review process.

Citigroup, BofA Securities, and RBC Capital Markets are serving as joint global coordinators for the proposed offering. Mizuho and Wolfe | Nomura Alliance have been appointed as joint bookrunners, with FT Partners acting as co-manager. Bicycle Capital, a growth equity firm focused on Latin American businesses, has provided a non-binding indication of its intent to purchase Class A common shares in the offering.

PicPay operates as the second-largest digital bank in Brazil by customer count. The company initiated its operations with instant payments and QR codes, subsequently evolving into a comprehensive digital bank. Its current offerings include digital wallets, credit cards, loans, Buy Now Pay Later (BNPL) services, investments, and insurance for both consumers and businesses.

The platform serves over 66 million customers across Brazil, with 42 million active users recorded in the third quarter of 2025. In the same quarter, PicPay reported an annualized return on equity (ROE) of 17.4%. For the first nine months of 2025, the company generated R$7.3 billion (approximately US$1.37 billion) in total revenue and financial income, alongside a net profit of R$313.8 million (approximately US$59 million). Consumer deposits held by PicPay totaled R$27 billion (approximately US$5 billion) as of September 30, 2025.