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Brazilian digital bank PicPay will start hiring financial firms to carry out a planned initial primary offering in New York next year. The fintech sees 2025 as a promising year for a New York IPO in as the Federal Reserve has already began cutting rates and the U.S. election will soon be in the rearview mirror.
PicPay has grown fast in recent years as Brazil's central bank has encouraged more competition in retail banking with new technologies making it easier for challenger banks. At the end of the second quarter, Picpay said its net income for the first half of 2024 totaled $11.3m, nearly twice its net income in all of 2023.
https://www.reuters.com/markets/deals/brazilian-digital-bank-picpay-eyes-nasdaq-ipo-2025-2024-10-02/
