PicPay Targets $2.46 Billion Valuation in US IPO

The company aims to raise up to $434.3 million in its initial public‍ offering (IPO) by providing nearly 22.9 million ⁤shares priced at ‌$16 to‍ $19 each, according to a‍ filing with the Securities​ adn Exchange Commission.

PicPay filed‌ for its IPO earlier this month and has become one of the most closely​ watched ⁤Brazil-linked FinTech listings since the⁤ region’s ⁢equity-capital-markets pipeline cooled following Nubank’s debut⁢ in 2021.

Meanwhile, investors are keeping a close watch on the role that Pix, Brazil’s central bank-supported instant payments system, plays ⁤in reshaping⁣ the country’s consumer finance ⁣and merchant ​payments space.

PYMNTS examined the popularity of pix in November as the system⁣ marked its fifth anniversary. What ​began as a ‌push “to modernize the national payments ​infrastructure has⁣ moved beyond any initial peer-to-peer activity.”