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Brazilian fintech PicPay is looking to raise up to $500 million in a US initial public offering, according to Bloomberg.
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The firm is working with Citigroup, Royal Bank of Canada, and Bank of America on a listing that could happen later this year, says Bloomberg, citing sources.
PicPay first filed for a US IPO in 2021, targeting an $8 billion valuation, but the firm withdrew its plan amid volatile market conditions.
Founded in 2012, PicPay offers users payments, investments, and shopping services to millions of users.
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