QI Tech, a leading financial services infrastructure provider based in Brazil, has announced an extension to its Series B funding round, securing additional equity from current investor General Atlantic, a renowned global growth investor, along with Across Capital.
This extension comes just six months after the company’s significant $200m Series B raise in October 2023.
Founded in 2018, QI Tech operates a robust financial infrastructure platform that offers a range of services including financial, credit, banking, and anti-fraud solutions aimed at decentralising these services away from major banks. The platform enables any business to offer financial products to its customers through an extensive set of APIs.
QI Tech stands out with its one-stop-shop solution which encompasses digital onboarding tools, facial recognition, data validation, credit scoring, digital account opening, wire transfers, Pix, bank slips, and credit underwriting for various economic sectors. Additionally, the company holds a brokerage license (DTVM), enabling it to structure, administer, and safeguard investment funds. As the first Direct Credit Company (SCD) approved by the Brazilian Central Bank, QI Tech also boasts a top-tier Fitch rating of A+ (bra) and has been profitable since its inception.
QI Tech founder and CEO Pedro Mac Dowell commented, “QI Tech is taking intentional, strategic steps to support our expansion and create a comprehensive suite of financial infrastructure products that better address client needs. Achieving unicorn status is reflection of the hard work and collaboration of every member of our team, and we deeply appreciate the continued trust and support of General Atlantic and our investor base.”
General Atlantic’s Managing Director and Co-Head of the Brazil office, Luiz Ribeiro, said, “General Atlantic is pleased to deepen our partnership with QI Tech and support the Company in its long-term development. We believe QI Tech is uniquely positioned as a challenger to existing incumbent solutions, with the momentum to become a leading, diversified player in Brazil’s financial infrastructure ecosystem as opportunities for digital payments and credit adoption continue to emerge. We look forward to continued partnership with QI Tech’s driven and execution-focused management team.”
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