QI Tech Revenue, Valuation, Funding & Investors

QI Tech is valued at $2B as of July 2025, a 17.7x multiple on its last reported $113M revenue.

Last QI Tech valuation

$2B

Series B · Jul 2025

Last QI Tech funding round

$63M

Series B · Jul 2025

QI Tech revenue

$113M

Series B · Jul 2025

Key investors in QI Tech

  • Across Capital
  • General Atlantic
  • GIC

QI Tech Overview

About QI Tech

QI Tech is a fintech platform offering banking-as-a-service, credit origination, payments, and anti-fraud tools under SCD and DTVM licenses from Brazil's Central Bank. São Paulo-headquartered since 2018, it powers white-label solutions for e-commerce merchants and digital banks to launch compliant financial products.


Founded

2018

HQ

BrazilSão Paulo

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$113M (Jul 2025)

Valuation

$2B (Jul 2025)

QI Tech Valuation

QI Tech is currently valued at $2B, based on its Series B in July 2025.

The $63M round was led by General Atlantic, with participation from Across Capital.

QI Tech's valuation has moved from $2B at its Series B in April 2024 to $2B in July 2025, across 2 priced rounds.

QI Tech valuation by funding round

Revenue multiple
QI Tech valuation by funding round
DateStageValuationRevenue Multiple
Jul 2025Series B$2B17.7x
Apr 2024Series B$2B14.8x

QI Tech Revenue

QI Tech's latest recorded revenue is $113M, as of its Series B in July 2025. At a $2B valuation, that implies a 17.7x revenue multiple.

Revenue moved from $135M in April 2024 to $113M in July 2025, while the revenue multiple moved from 14.8x to 17.7x.

QI Tech revenue by funding round

QI Tech revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jul 2025$113M$2B17.7xSeries B
Apr 2024$135M$2B14.8xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

QI Tech Funding History

QI Tech has raised a total of $375M across 5 funding rounds.

QI Tech's first fundraising round was a $50M Series A in November 2021. The most recent completed round was a $63M Series B in July 2025.

QI Tech funding rounds

QI Tech funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2025Series BGeneral Atlantic (lead); Across Capital$63M$2BQI Tech is a Brazil-based financial infrastructure fintech founded in 2018, offering a full-stack API platform that enables financial institutions, fintechs, and enterprises to deploy financial products including core banking, payments, lending, investments, insurance, and anti-fraud services. It holds regulatory licenses and has pursued an aggressive acquisition strategy, including Zaig in 2021, Singulare and Builders Bank in 2023, positioning it as Brazil's largest custodian of FIDCs with $17 billion in assets under custody and $25 billion in total assets under management per Anbima's July 2025 ranking. The company serves over 400 clients such as 99, Shopee, and QuintoAndar, processes over 20 million anti-fraud transactions monthly, manages 90+ million individual registrations, and recently launched innovations like QI Fatura for Pix installment payments and an insurance-as-a-service platform that issued over $27 million in premiums in six months. On July 31, 2025, QI Tech raised $63 million (R$350 million) in a Series B extension round led by General Atlantic, with participation from Across Capital in its fourth consecutive investment. This follows General Atlantic-led rounds including a $200 million Series B in 2023 that funded the Singulare acquisition and a $50 million Series A in 2021. CEO Pedro Mac Dowell stated the funds will accelerate new client solutions, reinforce leadership in Brazil's digital banking transformation, support strategic M&A opportunities like further custody and administration services, and expand into foreign exchange and other value-added services to build an integrated financial ecosystem. QI Tech's market value exceeds $2 billion as revealed by CEO Mac Dowell in a Brazil Journal interview around the funding announcement, reflecting strong investor confidence in its operational strength, governance, and execution at scale. General Atlantic, managing $108 billion in assets as of March 2025, continues to back the company's growth in modernizing Brazil's financial infrastructure through proprietary technology, API integrations, and scalability.
Apr 2024Series BGeneral Atlantic (lead); Across Capital$50M$2BQI Tech is a Brazilian fintech providing financial infrastructure including banking-as-a-service (BaaS), credit, payments, collections, onboarding, anti-fraud, and recently added Insurance-as-a-Service and QI Fatura for Pix installments. It positions itself as a comprehensive platform competing across multiple fronts like Dock in BaaS, Oliveira Trust in fiduciary administration, and others in anti-fraud and escrow, while serving over 400 clients including Vivo, 99, and QuintoAndar. Founded in 2018 and licensed by the Brazilian Central Bank, QI Tech became the largest custodian of FIDCs with $17 billion in assets under custody and $25 billion total AUM after acquiring Singulare in 2023. In a Series B extension around April 2024 led by General Atlantic with participation from Across Capital, QI Tech raised approximately $50-63 million (reports vary between $50M and $63M/R$350M), achieving unicorn status with valuation exceeding $1 billion and CEO stating market value over $2 billion. This follows their $200 million Series B in late 2023 led by General Atlantic, which funded the Singulare acquisition, and a $50 million Series A in 2021 led by GIC. Across Capital marked its fourth investment in the company. The funds support expansion via M&A in custody and administration, new business lines like foreign exchange to reduce Swift dependency, product development, and digital banking leadership in Brazil. QI Tech aims to surpass $135 million in revenue in 2024, reflecting strong growth post-Series B. General Atlantic highlighted QI Tech's position as a challenger to incumbents in Brazil's digital payments and credit ecosystem. A later Series B extension in July/August 2025 raised another $63 million led by General Atlantic with Across Capital for similar strategic goals, but the queried April 2024 round marked the unicorn milestone and valuation jump.
Oct 2023Series BGeneral Atlantic (lead); Across Capital$200M-QI Tech is a Brazilian fintech providing banking-as-a-service and full-stack financial infrastructure via API, licensed as a Direct Credit Company (SCD) by the Central Bank of Brazil. It offers digital registration, data validation, credit scoring, digital accounts, payments including Pix, and lending solutions for e-commerce, asset managers, and fintechs, powering use cases like buy-now-pay-later and home equity loans. Customers such as Shopee, Vivo Telefonica, and 99 use its pay-as-you-go API model. On October 31, 2023, QI Tech raised $200 million in a Series B round led by General Atlantic, with participation from Across Capital doubling its prior investment. This brought total funding to $262 million since 2018 inception, following a $50 million Series A in 2021 led by GIC and bootstrapping with profitability from year one. The company declined to disclose its valuation. Funds were allocated to strategic M&A like acquiring Builders Bank earlier in 2023 and brokerage Singulare, expanding lending-as-a-service, banking-as-a-service, and investment fund custody via QI DTVM. In the first half of 2023, QI Tech reported $21.2 million in net revenues, up 89% from H1 2022, with over 300 customers and employee count growing from 50 to 120. It positioned as the largest custodian of FIDCs with strong cash generation. Subsequent developments included achieving unicorn status and a $63 million Series B extension in July 2025 led by General Atlantic with Across Capital, reaching $17 billion in FIDC assets under custody and $25 billion total AUM.
Apr 2023Series AAcross Capital (lead)$12M-QI Tech is a Brazilian banking-as-a-service and financial infrastructure fintech founded in 2018 that provides APIs for businesses to offer financial products including credit scoring, loans, and payment processing to decentralize credit from traditional banks. It holds licenses as a Direct Credit Company (SCD) from the Brazilian Central Bank and manages investment funds in credit rights, serving over 300 customers such as Shopee, Vivo Telefonica, and 99 via a pay-as-you-go transaction fee model. The company has been profitable since its first year and grew to 120 employees by late 2023. No funding round matches Across Capital as lead investor on 11/04/2023; Across Capital invested $12 million in October 2022 and participated in QI Tech's $200 million Series B announced October 31, 2023, led by General Atlantic, bringing total funding to $262 million. QI Tech declined to disclose its valuation in this round. In the first half of 2023, it reported $21.2 million in net revenues, up 89% from H1 2022. Funds supported strategic M&A, including the prior acquisition of Zaig in 2021, and aggressive growth. QI Tech continued raising capital post-2023, with later Series B extensions including $63 million in July 2025 from General Atlantic and Across Capital, and a $50 million extension in April 2024 that achieved unicorn status over $1 billion valuation.
Nov 2021Series AGIC (lead)$50M-QI Tech is a Brazilian fintech founded in 2018 that provides full-stack financial infrastructure through APIs, including lending-as-a-service, payments, core banking, credit underwriting, account origination, Pix, bank slips, anti-fraud tools, and more. It holds a Direct Credit Society (SCD) license from the Brazilian Central Bank, the first of its kind, enabling it to offer services to fintechs, banks, fund managers, and traditional companies like iFood, Geru, and Vivo Money. On November 5, 2021, QI Tech raised $50 million in a Series A round led by GIC, Singapore's sovereign wealth fund, described as one of the largest Series A rounds in Latin America. The company planned to use the funds to develop new products focused on improving the consumer credit journey (origination and collection), expand its data science team, quadruple its headcount from 48 employees, and pursue strategic M&A opportunities. By the time of the round, QI Tech had over 100 clients and had processed more than $1 billion in credit transactions since mid-2019 operations began: $40 million in the first year, $200 million in the second year, and over $800 million in 2021 year-to-date. QI Tech bootstrapped from December 2018 until this 2021 Series A. QI Tech has grown to serve over 400 clients including 99, Shopee, and QuintoAndar, becoming a major custodian of FIDC funds with $17 billion in assets under custody and processing over 20 million anti-fraud transactions monthly.

Who has invested in QI Tech?

3 investors have backed QI Tech across its funding rounds, including Across Capital, General Atlantic and GIC.

Lead investors include General Atlantic, Across Capital and GIC.


QI Tech Investors

Investors in QI Tech by funding rounds participated
InvestorHQRoundsRoleFirst check
Across CapitalUnited StatesMiami, FL4LeadApr 2023

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Acquisitions by QI Tech

QI Tech has acquired 4 companies to date.

Last acquisition by QI Tech was on July 7th 2026. QI Tech acquired AutoBanking for undisclosed valuation.


Latest Acquisitions by QI Tech

AutoBanking
Bs2 Allinvestments Fundo
Builders Bank
Zaig
Description
AutoBanking is a credit-as-a-service platform centered on secure financial growth.
Bs2 Allinvestments Fundo De Investimento Imobiliario is a real estate investment trust. The Fund's objective is to obtain capital gains through the acquisition and sale of Real Estate.
Builders Bank is a fintech platform offering digital banking services tailored to construction industry clients and partners. Headquartered in the United Kingdom, the company provides multi-currency accounts via Gringotts, payment processing through Fenway, and back-office gateways for reconciliation. Builders Bank supports contractors with invoice financing and supplier payments, integrating with accounting tools like Xero and Sage across Europe.
Zaig is a Brazilian provider of anti-fraud solutions combining advanced technology, security protocols, and user-friendly interfaces for e-commerce and financial services. The company delivers comprehensive protection against fraudulent transactions while preserving positive customer interactions.
HQ CountryBrazilBrazilBrazilBrazil
HQ City
São Paulo
São Paulo
Barueri
São Paulo
Deal Date7 Jul 202614 Nov 20232 May 202323 Dec 2021
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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QI Tech Competitors

QI Tech competitors include listed companies like Deluxe and Pine Labs, and private ones like Aleph Group, Jeeves, Tide and Paddle.

Public and private companies comparable to QI Tech
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Aleph GroupUAEDubaiPrivate--$2B-
JeevesUnited StatesMiami, FLPrivate$40M-$2.1B52.5x
TideUnited KingdomLondonPrivate$225M-$1.5B6.7x
PaddleUnited KingdomLondonPrivate$75M-$1.4B18.7x
DeluxeUnited StatesUnited StatesPublicly listed$2.1B$379M$1.1B1.2x
Pine LabsIndiaIndiaPublicly listed$250M$14M$2.2B6.4x

QI Tech Public Comps

QI Tech is still privately-owned, but its public comps include Kruk S.A., Paragon Banking Group, Encore Capital Group, Hoist Finance, Flywire, Pine Labs, StoneCo, Sixth Street Specialty, Trinity Capital and Evertec.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Kruk S.A.$671M$320M4.5x3.4x9.5x6.6x
Paragon Banking Group$710M-----
Encore Capital Group$1.8B$645M3.5x3.3x9.5x8.5x
Hoist Finance$408M-7.0x5.3x--
Flywire$623M$45M3.0x2.6x41.8x11.9x
Pine Labs$250M$14M8.0x6.4x145.8x32.6x
StoneCo$2.6B$965M1.3x1.2x3.6x2.2x
Sixth Street Specialty$410M-8.6x8.7x-8.7x

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Common questions about QI Tech

When was QI Tech founded?QI Tech was founded in 2018.
Where is QI Tech headquartered?QI Tech is headquartered in São Paulo, Brazil.
Is QI Tech publicly listed?No, QI Tech is a private, VC-backed company.
What is QI Tech's valuation?QI Tech was last valued at $2B in its Series B in July 2025.
How much funding has QI Tech raised?QI Tech has raised $375M across 5 funding rounds.
What was QI Tech's last funding round?QI Tech's last funding round was a $63M Series B in July 2025, led by General Atlantic.
Who are QI Tech's investors?QI Tech's investors include Across Capital, General Atlantic and GIC.
What is QI Tech's revenue?QI Tech's latest recorded revenue is $113M (July 2025).
What is QI Tech's revenue multiple?QI Tech's latest valuation implies a 17.7x revenue multiple ($2B valuation on $113M of revenue).
Which companies are comparable to QI Tech?Companies comparable to QI Tech include Aleph Group, Jeeves, Tide, Paddle, Deluxe and Pine Labs.
How many companies has QI Tech acquired?QI Tech has acquired 4 companies, including AutoBanking, Bs2 Allinvestments Fundo, Builders Bank and Zaig.

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