Brazilian Fintech QI Tech Raises $200M for Acquisitions, Product Development, and Potential IPO; Funding Led by General Atlantic
QI Tech Eyes Strategic Mergers and Acquisitions, Expanding its 'One-Stop-Shop' Financial Service Offerings and an IPO, Building on Successful Profitability Since Inception and Recent 89% Increase in Net Revenues.
- QI Tech, a Brazilian fintech firm, has secured $200 million in a Series B funding round led by New York-based General Atlantic, raising its total capital to $262 million since its inception in 2018.
- Founded by Pedro Mac Dowell, Marcelo Bentivoglio, and Marcelo Buosi, QI Tech provides an infrastructure platform for the development of credit, payment, and banking solutions enabling companies to function like banks. Their platform is used by over 300 clients and offers digital registration, data validation, credit scoring, and more.
- The firm, which received an SCD (Direct Credit Society) license from the Brazilian Central Bank, intends to utilize the new capital towards exploring strategic mergers and acquisitions, and an aggressive growth strategy. The company previously acquired Zaig and Builders Bank.
- QI Tech has been consistently profitable since its first year of operation with net revenues increasing by 89% in the first half of 2023 to reach $21.2 million. The company charges its customers via a pay-as-you-go model.
- In additon to General Atlantic, Across Capital also participated in the investment round doubling its previous investment. Other investors have included the Sovereign Investment Fund of Singapore.
CNA 