QI Tech's $200 Million Series B Funding: A Leap Forward in Brazil's Fintech Evolution

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QI Tech's $200 Million Series B Funding: A Leap Forward in Brazil's Fintech Evolution



In a remarkable development in Brazil's fintech sector, QI Tech, a Sao Paulo-based startup, has secured a historic $200 million in Series B funding. This significant event, led by New York-based General Atlantic, marks a new chapter in Brazil's burgeoning fintech landscape, signifying both investor confidence and the strategic vision of QI Tech.

QI Tech: Pioneering Brazil's Fintech Innovation

Founding and Growth

Founded in 2018 by Pedro Mac Dowell, Marcelo Bentivoglio, and Marcelo Buosi, QI Tech set out to revolutionize Brazil's financial services through a robust infrastructure platform. The startup's journey from bootstrapping to securing substantial venture capital, totaling $262 million, highlights its consistent growth and the trust of global investors​​​​.

The Infrastructure Platform

QI Tech's platform enables the development of various financial services, such as credit, payment, and banking solutions, through a modular API. This innovative approach allows any company to function like a bank, offering financial products to its customers, employees, or suppliers​​​​​​.

Impact of the Series B Funding

Strategic Use of Funds

The latest funding is poised to propel QI Tech's future acquisitions and prepare for a potential IPO. The company plans to leverage the funds for market opportunities, emphasizing strategic acquisitions and IPO preparations, in line with market conditions​​​​​​.

Significance for the Brazilian Fintech Domain

This investment is a testament to the growing investor confidence in fintech solutions that bridge the gap between traditional banking and modern digital infrastructure. It also reflects the collaborative synergy between traditional financial institutions and fintech firms in Brazil, driving a mutually beneficial financial ecosystem​​​​​​.

QI Tech's Services and Performance

Comprehensive Financial Solutions

QI Tech's suite of financial services solutions enables businesses to perform various transactions, from digital registration to credit underwriting, catering to diverse sectors of the economy​​​​​​.

Financial Mettle and Clientele

Despite its relative newness in the market, QI Tech has shown impressive financial strength, with a commendable $21.2 million in net revenues during the first half of 2023, marking an 89% increase from the previous year. The firm's client base includes over 300 customers, such as Shopee, Vivo Telefonica, and 99 (Didi)​​​​​​.

Future Prospects and Expansion

Strategic Growth and MA Opportunities

QI Tech plans to explore strategic MA opportunities, aiming to enhance its product offerings and consolidate its market presence. Recent acquisitions, such as Zaig and Builders Bank, showcase the company's aggressive growth strategy and its vision to become a pivotal player in the fintech landscape​​​​​​.

Workforce and Market Adaptability

To support its growth, QI Tech maintains a 120-member workforce, up from 50 a year ago. The diverse skill set and expertise within the team enable the company to adapt to new technologies and innovations, ensuring its competitive edge in the industry​​​​.


QI Tech's $200 million Series B funding round is more than a financial milestone; it's a clear indicator of the vibrant potential of fintech innovations in Brazil. This development not only boosts QI Tech's growth trajectory but also signifies a promising outlook for the fintech sector in Brazil, emphasizing the critical role of financial technology in fostering economic growth and financial inclusion in emerging markets​