Business

Brazilian PicPay's capital rises to BRL 841 million

Brazil's Central Bank approved a capital increase of BRL 259 million in the fintech, led by J&F holding

PicPay IPO
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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.

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With over 38 million users, the Brazilian fintech reached the milestone of 2 million credit cards issued in January.

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