Leading the digital wallets market in Brazil, PicPay has now more available capital as the country’s Central Bank approved on Friday a capital increase of BRL 259 million in the fintech.
Led by the holding company Grupo J&F which in charge of Banco Original and PicPay, the contribution will support the company’s investment plans, which expects to maintain accelerated growth in 2021, the company informed Valor Econômico newspaper.
With over 38 million users, the Brazilian fintech reached the milestone of 2 million credit cards issued in January.
