After QI Tech prolonged its Sequence B spherical, the Brazil-based monetary companies infrastructure supplier has formally achieved unicorn standing.
QI Tech opted to lift extra fairness with its present investor Basic Atlantic, a world progress investor, in addition to funding agency Throughout Capital. Following the extension, the fintech achieved unicorn standing, six months after elevating its $200million Sequence B spherical in October 2023.
Pedro Mac Dowell, founder and CEO of QI Tech, commented: “QI Tech is taking intentional, strategic steps to assist our enlargement and create a complete suite of monetary infrastructure merchandise that higher deal with consumer wants. Attaining unicorn standing is a mirrored image of the laborious work and collaboration of each member of our staff, and we deeply respect the continued belief and assist of Basic Atlantic and our investor base.”
Based in 2018, QI Tech is a monetary infrastructure platform spanning monetary, credit score, banking, and anti-fraud options, with a deal with decentralising these companies from main banks. The fintech additionally gives a complete set of APIs, with a view to enabling companies to supply monetary merchandise to their clients.
Luiz Ribeiro, managing director and co-head of the Brazil workplace at Basic Atlantic, additionally added: “We consider QI Tech is uniquely positioned as a challenger to present incumbent options, with the momentum to develop into a number one, diversified participant in Brazil’s monetary infrastructure ecosystem as alternatives for digital funds and credit score adoption proceed to emerge. We sit up for continued partnership with its pushed and execution-focused administration staff.”
QI Tech’s ‘one-stop-shop’ answer consists of digital onboarding instruments, facial recognition, knowledge validation, credit score scoring, digital account opening, wire transfers, Pix, financial institution slips, and credit score underwriting for varied sectors of the financial system. It is the primary Direct Credit score Firm (SCD) permitted by the Brazilian Central Financial institution, and has been worthwhile since its first yr of operation.
