QI Tech becomes unicorn with extended Series B funding from General Atlantic and Across Capital
QI Tech, a titan in the financial services infrastructure sector in Brazil, has just scaled new heights, achieving the coveted unicorn status following an extension to its Series B funding round. This significant milestone comes just six months after the company raised a whopping $200 million in its initial Series B in October 2023. General Atlantic, a global powerhouse in growth investing, alongside Across Capital, played pivotal roles in this latest funding surge, underscoring their confidence in QI Tech’s revolutionary financial platform.
A Revolutionary Financial Platform for Brazil
Founded in 2018, QI Tech has rapidly established itself as a key player in Brazil’s financial ecosystem, offering an expansive range of services from banking to anti-fraud solutions. The platform is designed to decentralize financial services traditionally dominated by major banks, providing businesses of all sizes with the tools they need to offer financial products directly to customers. QI Tech’s comprehensive suite of APIs marks a significant leap forward in making financial services accessible to a broader audience.
What Makes QI Tech a Unicorn?
Pedro Mac Dowell, the visionary founder and CEO of QI Tech, expressed his pride in the company’s journey, stating, “Achieving unicorn status is a 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.” This sentiment is a testament to the strategic and intentional steps QI Tech has taken to expand its offerings and enhance its infrastructure, further solidifying its position in the market.
The Impact of Strategic Partnerships
Luiz Ribeiro, Managing Director and Co-Head of the Brazil office at General Atlantic, also commented on the deepening partnership, noting, “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.” This partnership not only bolsters QI Tech’s capabilities but also aligns with emerging opportunities in digital payments and credit adoption across Brazil.
QI Tech’s Comprehensive Financial Solutions
QI Tech’s platform is a true “one-stop-shop” for digital financial services, featuring cutting-edge tools such as digital onboarding, facial recognition, and credit scoring. Additionally, with a brokerage license (DTVM) and the status of the first Direct Credit Company (SCD) approved by the Brazilian Central Bank, QI Tech is well-equipped to handle a wide range of financial transactions securely and efficiently.
With J.P. Morgan Securities LLC acting as the exclusive financial advisor, QI Tech’s future looks incredibly promising. The company’s commitment to innovation and regulatory compliance ensures that it will continue to offer secure and customized payment and credit services, perfectly tailored to meet the evolving needs of its clients.