Jan 5 (Reuters) - Brazilian digital bank PicPay revealed a surge in nine-month revenue in its filing for an initial public offering in the United States on Monday, as it renews efforts to list its shares in New York.
The Sao Paulo, Brazil-based company disclosed a profit of 313.8 million reais ($58.05 million) for the nine months ended September 30, compared with 172 million reais a year earlier. Its total revenue and financial income stood at 7.26 billion reais for the period, compared with 3.78
billion reais a year ago.
PicPay, controlled by holding company J&F, which also owns meatpacker JBS, is making a second attempt to go public in the U.S. after scrapping its IPO plans in 2021 amid weak market conditions.
The U.S. IPO market regained momentum in 2025 after nearly three years of sluggish activity, but hopes for a stronger rebound were tempered by tariff-driven volatility, a prolonged government shutdown and a late-year selloff in artificial intelligence stocks.
Analysts expect the IPO market to resume its long-awaited recovery in 2026, with more crypto and fintech firms signaling plans to go public, including UK-based neobank Revolut, crypto exchange Kraken and Japan's payments app PayPay.
PicPay plans to list on the Nasdaq under the symbol "PICS".
Founded in 2012, the company operates a fintech platform to help people and small businesses pay, save, borrow and manage money. It allows users to send and receive funds via mobile devices, using tools such as Pix and QR codes.
PicPay intends to use the net proceeds from the IPO for general corporate purposes, including working capital, operating expenses, meeting regulatory capital requirements and capital expenditures.
Citigroup, BofA Securities and RBC Capital Markets are the global coordinators for the offering.
($1 = 5.4057 reais)
(Reporting by Prakhar Srivastava in Bengaluru and Fernando Cardoso in Sao Paulo; Editing by Shilpi Majumdar)
