Latam fintechs expected to grow into lending in 2024, as a more benign economic environment favors greater risk-taking.
Latin America's neobanks showed growing profits and robust customer acquisition in the quarter, a sign of resilience amid economic troubles.
Picpay was expecting to break even only in the middle of 2024 and could prepare again to go public on the New York Stock Exchanges.
Low multiples could lead to strategic fintech M&A as companies with abundant capital take the opportunity to scoop deals.
Last month, PicPay launched peer-to-peer lending for companies, a major innovation in a bid to enhance the product suite.
As the crypto wave continues to sweep Latin America, both banks and fintechs are crafting an expanding crypto offering in Brazil.
PicPay stated that, before reaching the market, the solution went through tests for eight months with 10,000 company and partner employees.
This capital increase reinforces the confidence of shareholders in the development of PicPay's business plan.
This week, PicPay, one of the leading digital wallets in Brazil, announced a new acquisition in a bid to gain ground in Brazil's trillion-dollar loan market.
Despite the sharp drop in value seen in the past weeks, financial technology players that have drawn millions to their wallets are now doubling down their bets on crypto.