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- QI Tech
QI Tech Revenue, Valuation, Funding & Investors
QI Tech is valued at $2B as of July 2025, a 17.7x revenue multiple. QI Tech revenue was $113M, as disclosed with its latest round.
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
About QI Tech
QI Tech is a Brazilian financial infrastructure company that gives businesses the technology to launch banking, lending, payments and anti-fraud products through application programming interfaces. It was founded in 2018 by Pedro Mac Dowell, who is chief executive, and describes itself as the first direct credit company (SCD) approved by the Brazilian Central Bank. Its product lines include banking as a service, lending as a service, risk solutions for onboarding and fraud prevention, and the administration and custody of investment funds. Its website reports R$494 billion in Pix payments processed, more than R$107 billion in credit issued and R$181 billion under administration. Clients include 99, Shopee and QuintoAndar. The company raised a Series A led by GIC in 2021, a Series B led by General Atlantic in 2023 and two extensions of that round in 2024 and 2025, and it has grown through acquisitions including Zaig, Builders Bank, Singulare and Autobanking.
Founded
2018
HQ
Website
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. Read the announcement ↗
The $63M round was led by General Atlantic, with participation from Across Capital.
QI Tech's valuation has grown 2.0x from $1B at its Series B in April 2024 to $2B in July 2025, across 2 priced rounds.
QI Tech valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2025 | Series B | $2B | 17.7x |
| Apr 2024 | Series B | $1B | 7.4x |
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 7.4x to 17.7x.
QI Tech revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2025 | $113M | $2B | 17.7x | Series B |
| Apr 2024 | $135M | $1B | 7.4x | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2025 | Series B | General Atlantic (lead); Across Capital | $63M | $2B | QI Tech raised US$63 million, about R$350 million, on 31 July 2025 as a further extension of its Series B, led by General Atlantic with participation from Across Capital, which made its fourth consecutive investment in the company. General Atlantic had led the US$200 million Series B in 2023 that supported the purchase of the brokerage Singulare, and GIC led the Series A in 2021. The chief executive said the market value of the company exceeded US$2 billion, and the company reported revenue of R$700 million in 2024. The funds were intended to accelerate new client solutions, reinforce leadership in digital banking in Brazil and support strategic acquisitions. QI Tech is a Brazilian financial infrastructure platform founded in 2018 that offers banking as a service, lending as a service, anti-fraud and risk tools and the administration and custody of investment funds. Its acquisitions include Zaig in 2021 and Builders Bank and Singulare in 2023. |
| Apr 2024 | Series B | General Atlantic (lead); Across Capital | $50M | $1B | QI Tech raised a further US$50 million in April 2024 as an extension of its Series B, led by General Atlantic with participation from Across Capital, at a valuation of more than US$1 billion. The round made the company Brazil's first fintech unicorn of 2024. The original Series B of US$200 million had closed in October 2023, and the Series A of US$50 million led by GIC came in 2021. In 2023 QI Tech reported revenue of R$220 million and EBITDA of about R$150 million, a margin of 68%, and it targeted revenue of R$700 million in 2024. The company is a Brazilian financial infrastructure provider licensed by the Central Bank as a direct credit company, offering banking as a service, lending as a service, anti-fraud tools and the administration and custody of investment funds. Its clients include Vivo, 99 and QuintoAndar, and it had become the largest custodian of receivables funds in Brazil after buying the brokerage Singulare in 2023. The chief executive said the capital would support further acquisitions and new products. |
| Oct 2023 | Series B | General 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 2023 | Series A | Across 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 2021 | Series A | GIC (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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Apr 2023 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by QI Tech
QI Tech has acquired 5 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
| Description | AutoBanking is a credit-as-a-service platform centered on secure financial growth. | G5 Cidade Nova Fundo Investimento Imobiliario objective is to invest in real estate projects, primarily through the acquisition of a commercial or residential real estate. The objective of the Fund is investment in real estate projects, primarily through the acquisition of commercial real estate or residential including but not limited to autonomous units object of residential and commercial real estate development, participation in company whose sole purpose falls within the activities allowed to the Fund. | Singulare is a Brazilian securities brokerage (DTVM) and fiduciary administrator for investment funds. It serves about 140 asset managers and administers around 960 funds, including receivables funds (FIDCs), and it was led by its founding partner and chief executive Álvaro Vidigal. The firm provides custody, administration and distribution services that investment managers use to launch and run their funds. In November 2023 the credit-infrastructure fintech QI Tech agreed to acquire 100% of Singulare, which it planned to operate alongside its own brokerage-as-a-service unit while keeping the Singulare brand. The record previously carried the name of a real estate investment fund administered through the same domain, which is not the business that was bought. | 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. | |
| HQ Country | |||||
| HQ City | São Paulo | São Paulo | São Paulo | Barueri | |
| Deal Date | 7 Jul 2026 | 14 Nov 2023 | 14 Nov 2023 | 2 May 2023 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $2B | - | ||
| Private | $40M | - | $2.1B | 52.5x | ||
| Private | $225M | - | $1.5B | 6.7x | ||
| Private | $75M | - | $1.4B | 18.7x | ||
| Publicly listed | $2.1B | $379M | $1B | 1.2x | ||
| Publicly listed | $252M | $14M | $1.9B | 2.7x |
QI Tech Public Comps
QI Tech is still privately-owned, but its public comps include Federal Agricultural, Evertec, Encore Capital Group, OSB Group, Pine Labs, PagSeguro, StoneCo, Lakala, Paragon Banking Group and Hoist Finance.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $408M | - | 85.5x | 74.4x | - | - | |||
| $932M | $330M | 3.2x | 2.8x | 9.2x | 7.2x | |||
| $1.8B | $645M | 3.5x | 3.2x | 9.5x | 8.4x | |||
| $893M | - | 1.5x | 1.5x | - | - | |||
| $252M | $14M | 3.4x | 2.7x | 62.4x | 13.5x | |||
| $3.8B | $1.6B | 2.6x | 2.6x | 6.2x | 12.2x | |||
| $2.5B | $919M | 1.2x | 1.1x | 3.3x | 2.0x | |||
| $834M | $220M | 1.1x | 1.0x | 4.3x | 8.4x | |||
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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 5 companies, including Autobanking, G5 Cidade Nova Fundo, Singulare, Builders Bank and Zaig. |
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