Fintech Leaders Eduardo Chedid, CEO of PicPay: 60M Users, $1B Revenue, From Brazil’s Digital Wallet to a Banking Giant
Miguel Armaza travels to Sao Paulo for an interview with Eduardo Chedid, CEO of PicPay, a Brazilian fintech giant that has quietly become one of the most important financial companies in Latin America.
With 60 million customers and handling 11% of all Pix payments transactions in Brazil, PicPay has achieved profitability while maintaining hyper-growth—posting 61% revenue growth and 7× higher profits in 2024.
In this episode, we discuss:
- How PicPay transformed from a digital wallet into a multi-product financial platform
- The power of business unit autonomy and prioritizing top talent acquisition
- Building a two-sided ecosystem that serves both consumers and businesses with separate monetization strategies
- Why Brazilian market volatility creates resilient managers and how to avoid the "incumbent trap"... and lots more!
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Miguel Armaza is Co-Founder and General Partner of Gilgamesh Ventures, a seed-stage investment fund focused on fintech in the Americas. He also hosts and writes the Fintech Leaders podcast and newsletter.
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