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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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