TechDogs-"Leading Financial Technology Platform QI Tech Becomes New LatAm Unicorn In Series B Extension Round Led by General Atlantic"

Financial Technology

Leading Financial Technology Platform QI Tech Becomes New LatAm Unicorn In Series B Extension Round Led by General Atlantic

By Business Wire

Business Wire
Overall Rating

Brazilian fintech QI Tech achieves unicorn status six months after raising its US$200M Series B round

SÃO PAULO--(BUSINESS WIRE)--QI Tech (the “Company”), a leading financial services infrastructure provider in Brazil, today announced it has extended its Series B round, raising additional equity with current investor General Atlantic, a leading global growth investor, as well as Across Capital. Following the extension, QI Tech has achieved unicorn status, six months after raising its US$200M Series B round in October 2023.

Founded in 2018, QI Tech is a financial infrastructure platform spanning financial, credit, banking, and anti-fraud solutions, with a focus on decentralizing these services from major banks. The Company offers a comprehensive set of APIs that allows any business to provide financial products to its customers.

Pedro Mac Dowell, founder and CEO of QI Tech, 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.”

QI Tech’s “one-stop-shop” solution includes digital onboarding tools, facial recognition, data validation, credit scoring, digital account opening, wire transfers, Pix, bank slips, and credit underwriting for various sectors of the economy. To complete the range of services offered, QI Tech also maintains a brokerage license (DTVM), used to structure, administer, and safeguard investment funds. QI Tech is the first Direct Credit Company (SCD) approved by the Brazilian Central Bank and holds a top-tier Fitch rating of A+ (bra). The Company has been profitable since its first year of operation.

Luiz Ribeiro, Managing Director and Co-Head of the Brazil office at General Atlantic, 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.”

J.P. Morgan Securities LLC (“J.P. Morgan”) acted as exclusive financial advisor to QI Tech.

About QI Tech

QI Tech is a one-stop-shop platform for financial, credit, banking, and anti-fraud services. With both SCD and DTVM licenses granted by the Brazilian Central Bank, it provides all the technological infrastructure for its clients and partners to monetize and engage their ecosystem of stakeholders. The company combines an intelligent platform with all regulatory compliance, so its clients can offer payment and credit services securely and in a way that best fits their business model. For more information: www.qitech.com.br.

About General Atlantic

General Atlantic is a leading global growth investor with more than four decades of experience providing capital and strategic support for over 520 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has approximately $84 billion in assets under management inclusive of all products as of March 31, 2024, and more than 300 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.


Contacts

Media:

QI Tech
Ludmilla Amaral
ludmilla@vcrp.com.br

General Atlantic
Emily Japlon & Sara Widmann
media@generalatlantic.com

First published on Thu, Apr 25, 2024

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