QI Tech, a Brazilian fintech specializing in technology infrastructure for financial services, has achieved unicorn status after reaching a valuation of more than US$1 billion — BRL 5.1 billion — in its latest funding round.
The milestone followed an additional investment of US$50 million — BRL 256.3 million —, through an extension of the US$200 million — BRL 1 billion — Series B completed in the previous year, with participation from General Atlantic and Across Capital. QI Tech has therefore become Brazil’s first unicorn of 2024.
Founded in 2018, the fintech provides an infrastructure platform offering credit, banking, and fraud prevention solutions. The company has a portfolio of APIs that enables any business to offer financial products to its customers and currently serves more than 400 clients, including Vivo and QuintoAndar.
In 2023, credit rating agency Fitch assigned the fintech a National Long-Term Rating of “A+(bra)”, with a Stable Outlook.
General Atlantic representatives highlighted the company’s unique position in the market and its ability to offer innovative and differentiated solutions. They believe the fintech is on track to become a leader in Brazil’s financial infrastructure ecosystem, particularly amid growing opportunities for the adoption of digital payments and credit solutions.