FinTech: Brazilian Fintech QI Tech Lands $200M Series B Round

November 6, 2023 | FinTech, News, Venture Capital

QI Tech seeks to make the availability of credit and loans more inclusive in Brazil.

QI Tech, a licensed FinTech and Direct Credit Company endorsed by the Brazilian Central Bank, recently secured $200 million in its Series B round, led by General Atlantic. Existing investor Across Capital also doubled the size of its initial investment. Founded in 2018 by Pedro Mac Dowell, Marcelo Bentivoglio, and Marcelo Buosi, QI Tech aims to revolutionize the credit market. The company’s goal is to simplify loan procedures and make credit more accessible beyond traditional banks.

The company offers a comprehensive suite of APIs for businesses, enabling them to provide digital tools for registration, data validation, credit scoring, and more to their consumers. Additionally, the company holds a brokerage license, facilitating investment funds in credit rights. (Fintech Global)

With the new capital, the company has ambitious plans, intending to enhance product leadership, explore strategic M&A opportunities, and strengthen its position in Brazil’s competitive market while considering local prospects. Pedro Mac Dowell, the CEO, emphasized the significant opportunity this funding represents and the company’s intention to focus on growth.

Marcelo Bentivoglio, the co-founder and CFO, highlighted QI Tech’s unique qualities, including cutting-edge technology and a high-performance team committed to delivering top-notch support and products.

Related Story: JPMorgan Chase Hikes Stake In Brazilian Digital Bank C6 To 46%

Photo by Michael lima on Unsplash

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