Financial infrastructure platform QI Tech secures $63 million in Series B extension funding
In a significant move for the Brazilian fintech industry, QI Tech has secured fresh funding to fuel its strategic acquisitions and expansion. The company, which already boasts a strong portfolio that includes Singulare, Zaig, and Builders Bank, is set to bolster its offerings further[1][2].
The funding round, led by General Atlantic, marks the second time the venture capital firm has invested in QI Tech, having also led its $200 million Series B in 2023[1]. The exact amount of the latest investment was not disclosed.
Pedro Mac Dowell, CEO and founder of QI Tech, emphasized that the new investment will enable the company to accelerate the development of solutions aimed at modernizing Brazil's financial infrastructure[1]. He also highlighted that the funds will be used for new client solutions, strengthening QI Tech's leadership in Brazil's digital banking, and supporting acquisitions[1][2].
QI Tech's strategic M&A moves focus on acquiring companies that enhance its capabilities in core areas like custody, credit scoring, anti-fraud, and banking platforms, while preparing to enter new segments such as foreign exchange infrastructure[1][2]. The company is developing a foreign exchange infrastructure for fast, secure, automated transactions, aiming to replace traditional FX delays in Brazil with a fully digital experience, often bypassing SWIFT.
In addition to acquisitions, QI Tech is also focusing on product diversification and building an integrated financial ecosystem[1][2]. The company has already launched an insurance-as-a-service platform that issued over $27 million in six months, and it has developed QI Fatura, enabling Pix installment payments before the official product.
QI Tech's solutions are designed to deliver impactful financial solutions, with a focus on scalability, tech-driven innovations, and expert support[1][2]. The company processes over 20 million anti-fraud transactions monthly and protects about $13 million from fraud each month[1][2].
Following the acquisition of Singulare, QI Tech is now the leading FIDC custodian with $17 billion in assets under custody and a total of $25 billion in assets under management across all fund types[1]. The company serves over 400 clients, including brands like 99, Shopee, and QuintoAndar.
Across Capital participated for the fourth time in QI Tech's funding round[1]. With this new investment, QI Tech is well-positioned to continue its focus on modernizing Brazil's financial infrastructure and solidifying its position as a leader in Brazil's digital banking sector.
[1] - Source: TechCrunch [2] - Source: Reuters
The funding secured by QI Tech, predominantly led by General Atlantic, will empower the company to propel its growth in the financial sector, particularly in the domains of digital banking and technology. With the fresh capital, Pedro Mac Dowell, the CEO, aims to accelerate the development of innovative solutions for modernizing Brazil's financial infrastructure, strengthen client solutions, and support acquisitions.
