# Agibank Seeks Up to $1 Billion in NYSE IPO

*Brazilian Digital Bank urns to Wall Street after clearing a key regulatory hurdle in Brazil.*

- Published: 2026-01-14
- Updated: 2026-01-15
- Section: Insights
- Tags: Agibank, Brazilian fintech, Capital Markets, Digital Banking, INSS, Latin America, NYSE IPO, payroll loans, picpay
- URL: https://brazilstockguide.com/insights/agibank-seeks-up-to-1-billion-in-nyse-ipo/

![](https://i0.wp.com/brazilstockguide.com/wp-content/uploads/2026/01/Agibank.jpg?fit=800%2C533&ssl=1)

**By Brazil Stock Guide –** **Agibank** has filed for an initial public offering in the United States, targeting a listing on the New York Stock Exchange and a capital raise of up to **$1 billion**, according to Bloomberg. The move follows the resolution of a key regulatory setback in Brazil related to government-backed payroll loans, a core revenue product for the lender.

The IPO plan had been under review since 2024 but was delayed after Brazilian authorities imposed restrictions on the bank’s payroll-deducted lending tied to **INSS**, Brazil’s public pension system that pays retirement and social security benefits to tens of millions of workers and retirees. The recent reinstatement of the product removed a central obstacle, allowing the fintech to restart preparations for a U.S. listing, the people said.

Agibank is **controlled by its founder,** **Marciano Testa**, who remains the company’s main shareholder and strategic decision-maker, according to people familiar with its ownership structure.

Agibank ended the third quarter of 2025 with strong profitability and rapid balance-sheet expansion. **Net income reached R$875.5 million in the first nine months**, up **35.4% year on year**, as the **loan book grew 54.3% to R$33.8 billion**. The bank posted an average **ROE of 40.9%** over the past 12 months.

The lender had **6.4 million active customers**, a **77.2% annual increase**, and held **8.8% of Brazil’s INSS payroll-loan market**, up **3 percentage points** from a year earlier. Capital ratios remained comfortable, with a **Basel ratio of 14.8%** and **CET1 of 13.5%**, both above regulatory requirements.

In its most recent private funding round in December 2024, Agibank was valued at around **R$9.3 billion**, or roughly **$1.7 billion** at the time. The bank operates a hybrid model combining a digital platform with about **1,100 physical service hubs** nationwide.

**Goldman Sachs** is leading the transaction, alongside **Morgan Stanley, Citigroup, BTG Pactual, Itaú BBA, Bradesco BBI, Santander and XP**.

Agibank’s filing comes as other Brazilian fintechs also test investor appetite in the U.S. capital markets. **PicPay**, backed by J&F, has also filed confidentially for an IPO in the United States, pointing to early signs of a reopening window for Brazilian financial companies seeking offshore listings.

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Source: Brazil Stock Guide, https://brazilstockguide.com/insights/agibank-seeks-up-to-1-billion-in-nyse-ipo/