Brazilian financial infrastructure fintech QI Tech has raised $63 million in a Series B extension funding led by General Atlantic.
Founded in 2018 by Pedro Mac Dowell, Marcelo Bentivoglio, and Marcelo Buosi, QI Tech offers a set of APIs that allows any business to offer financial products to its customers, providing digital registration tools, data validation, credit scoring, digital account opening, wire transfers, Pix, bank slips, and credit underwriting.
General Atlantic led QI Tech's $200 million Series B in 2023, which supported the fintech's acquisition of brokerage firm Singulare which has also seen it secure its position as the largest custodian of FIDCs (Investment Funds for Private Credit) in Brazil.
QI Tech has also bought other firms in recent years, snapping up anti-fraud and credit engines specialist Zaig and white label banking platform Builders Bank.
The latest funding will be used for further acquisitions as well as product diversification, starting with foreign exchange infrastructure.
"This new investment enhances our ability to accelerate the development of solutions aimed at modernizing Brazil's financial infrastructure. We remain focused on expanding our portfolio with reliability, compliance, and scalability. The additional capital also positions QI Tech for strategic M&A moves aligned with our long-term vision," says Pedro Mac Dowell, CEO, QI Tech.