QI Tech, a licensed FinTech and Direct Credit Company (SCD) endorsed by the Brazilian Central Bank, has recently made headlines with its latest funding announcement.
The FinTech secured $200m in its Series B round, which was led by General Atlantic. Additionally, existing QI Tech investor Across Capital participated in the round, doubling its initial investment into the company.
Established in 2018 by visionaries Pedro Mac Dowell, Marcelo Bentivoglio, and Marcelo Buosi, QI Tech aims to revolutionise the credit market. Its primary goal is to simplify loan procedures and shift credit accessibility away from dominant banks. Their comprehensive suite of APIs allows businesses to extend financial products to their consumers, ensuring they’re equipped with digital tools for registration, data validation, credit scoring, and more. To bolster their service offering, QI Tech also manages a brokerage license, facilitating the structure and safeguarding of investment funds in credit rights.
QI Tech has ambitious plans for the newly acquired capital. They aim to amplify their product leadership, scout for strategic M&A opportunities, and solidify their foothold in Brazil’s competitive market while eyeing potential local prospects.
QI Tech CEO Pedro Mac Dowell said, “This new partnership lays the foundation for the size of the opportunity we are pursuing. We plan to use the new capital to strengthen our leadership position in Brazil, keeping an eye on potential local opportunities and executing an aggressive growth strategy for each business unit.”
Marcelo Bentivoglio, co-founder and CFO of QI Tech, said, “QI Tech is a unique company; we have cutting-edge technology, solid fundamentals, and an experienced, ambitious team operating in a high-performance culture. We do everything with purpose, ensuring that our clients receive the highest level of support and our community gets the best product.”
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