QI Tech, a financial services infrastructure fintech, has received authorization from the Central Bank of Brazil to complete the acquisition of brokerage firm Singulare. The transaction between the companies was signed in November 2023, 15 days after the BRL 1 billion investment led by General Atlantic. Following approval from CADE — Brazil’s Administrative Council for Economic Defense — in January 2024, this was the final step required to complete the transaction.
With the transaction completed, QI Tech consolidates its position as Brazil’s leading technology infrastructure fintech for financial services and products, accelerating innovation in the market. The current priority is to keep all clients informed about each stage of the process. Approval from the Central Bank was the main requirement for beginning the integration of the companies’ operations.
The company now strengthens its position as Brazil’s largest FIDC administrator and custodian by number of transactions, according to the 2024 Uqbar ranking, with BRL 81.9 billion in assets under administration across more than 650 Receivables Investment Funds. In total, the company administers more than 1,000 funds and BRL 121 billion in assets.
“We are preparing to provide all our clients with access to a broader and more comprehensive product offering. Nothing will change immediately. We remain committed to providing the best technology infrastructure for building financial products, and over the coming cycles, our clients will begin to see the improvements ahead,” said Pedro Mac Dowell, CEO and founder of QI Tech.
According to Daniel Doll Lemos, “clients will benefit from the quality of our service and support while gaining access to QI Tech’s entire portfolio, which offers a complete ecosystem for developing financial products for the country’s largest companies.”
A complete financial ecosystem
QI Tech provides end-to-end technological and regulatory infrastructure for the development of financial and banking products. Through a single provider, any company can build its own digital bank and access a complete journey encompassing onboarding, transactional fraud prevention, credit issuance, and even the creation of a Receivables Investment Fund (FIDC).
The acquisition will not only expand the range of solutions available to existing clients but will also enable QI Tech to serve an even larger market, delivering the evolution required by the market and the regulatory environment.
“Fund administration was the missing piece that QI Tech’s clients needed to structure a financial service without relying on any other provider. By combining this acquisition with our ability to develop technology, we will be able to offer a fully integrated end-to-end experience and deliver a standard of service far superior to that of any other market player,” added Emílio Moreira, QI Tech’s CTO at the time and the executive responsible for leading the integration.