Latest Latin American Unicorn Emerges from Series B Funding Round, Competing with Established Solutions in the Fintech Industry

QI Tech, a Brazil-based financial services infrastructure provider, has officially achieved unicorn status after extending its Series B round. The fintech company raised additional equity from current investor General Atlantic and investment firm Across Capital. This milestone comes six months after QI Tech raised 0 million in its Series B round in October 2023.

Pedro Mac Dowell, the founder and CEO of QI Tech, expressed his excitement about the achievement of unicorn status. He stated, “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 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.”

Established in 2018, QI Tech offers a financial infrastructure platform that includes financial, credit, banking, and anti-fraud solutions. The company focuses on decentralizing these services from major banks and provides a range of APIs to enable businesses to offer financial products to their customers.

Luiz Ribeiro, managing director and co-head of the Brazil office at General Atlantic, praised QI Tech’s potential as a challenger in Brazil’s financial infrastructure ecosystem. He believes the company has the momentum to become a leading player in the industry and looks forward to continued partnership with its management team.

QI Tech’s solution includes digital onboarding tools, facial recognition, credit scoring, digital account opening, wire transfers, Pix, bank slips, and credit underwriting for various sectors of the economy. The company is the first Direct Credit Company approved by the Brazilian Central Bank and has been profitable since its first year of operation.