PagBank PagSeguro has finished the second quarter with a net revenue of BRL 2.4 billion, a growth of 75% compared to the same period last year. According to the company, it was the highest quarterly revenue achieved by the fintech.
PagBank surpassed BRL 100 billion in Total Payment Volume – BRL 46 billion from PagBank, a rise of 341%; and BRL 54 billion from PagSeguro, a rise of 89% – which is an increase of 154% over the same period in 2020. Adjusted EBITDA jumped 64%, reaching R$629 million.
According to the company, the positive results were a consequence of the greater recurrence of resources in digital accounts, the higher sales volume at POS and the new growth avenues, especially the service to small and medium entrepreneurs, and the greater exposure to online sales.
PagBank’s app was downloaded 10 million times in the second quarter, reaching 58 million downloads. The digital bank also reported having added 2.1 million new customers between April and June and having surpassed the mark of 11 million active customers. In the acquiring vertical, PagSeguro already has 7.6 million active merchants.
The company attributes the growth of the base to its service ecosystem, which includes cards, loans, unlimited free transfers, payments, cell phone recharging, PIX, investments, insurance, and a virtual mall.
Last quarter, the company also expanded its offer of investment funds through partnerships with investment managers and launched its first proprietary fund with a minimum application of R$ 1. The digital bank has also invested in insurance, with the launch of personal, home, and cell phone insurance.