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Bloomberg:
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Heartspace News Desk
•Source: Bloomberg.com, Bloomberg.com
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Key takeaways
- Bloomberg reports that the Batista family, through their J&F holding company, will continue to provide financial support to Brazilian fintech firm PicPay, following the postponement of its planned Nasdaq IPO
- PicPay CEO Eduardo Chedid confirmed this ongoing investment, stating that the shareholder's commitment underscores their confidence in the company's performance
- He characterized the investment as a strategic bridge, designed to sustain PicPay until market conditions become more favorable for a public offering
Bloomberg reports that the Batista family, through their J&F holding company, will continue to provide financial support to Brazilian fintech firm PicPay, following the postponement of its planned Nasdaq IPO.
PicPay CEO Eduardo Chedid confirmed this ongoing investment, stating that the shareholder's commitment underscores their confidence in the company's performance. He characterized the investment as a strategic bridge, designed to sustain PicPay until market conditions become more favorable for a public offering.
Chedid anticipates PicPay will achieve self-sufficiency within three years, projecting that the company will then be able to fund its growth through internally generated profits. This news and Chedid's statements were featured in multiple Bloomberg.com articles, including a Portuguese-language report.
Related Topics
FintechIPOFundingInvestmentNasdaqBrazilFinancial Technology
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