← State of Embedded Finance 2026

QI Tech

Can Brazil's first SCD-licensed fintech become the all-in-one regulated infrastructure powering every non-bank company that wants to offer financial products?

Founded2018
HQSão Paulo, Brazil
FoundersPedro Mac Dowell, Marcelo Bentivoglio, Marcelo Buosi
Total raised$250M+
Latest roundSeries B extension, April 2024
Valuation~$1.5B (unicorn, 2024)
IndustryInfrastructure / BaaS
The story

Founded 2018 as the first SCD-licensed fintech in Brazil, QI Tech built a regulated infrastructure layer for non-bank companies to issue credit (CCBs, notas comerciais). Expanded into BaaS, KYC/antifraud, and Pix infrastructure as embedded finance demand grew in Brazil. The 2024 acquisition of Singulare added DTVM capabilities (fund administration/custody), making it the only end-to-end 'as-a-service' player covering banking, credit, capital markets, and fund administration under one roof.

Last 12 months
2024-04
2024-01
Product timeline
2018
Founded as the first Direct Credit Society (SCD) approved by the Brazilian Central Bank· pivot
2023
Raised $200M Series B led by General Atlantic — largest Brazilian round of the year· banking
2024
Acquired Singulare brokerage 100% to expand into FIDC administration and custody· acquisition
2024
Series B extension of $50M, reaching unicorn status at ~$1.5B valuation· banking
2024
Became first fintech to hold both SCD and DTVM licenses· banking
Regulated entities
SCD (Sociedade de Crédito Direto)
Brazil (BACEN) · 2018
QI Sociedade de Crédito Direto S.A.
DTVM (Securities Distributor)
Brazil (CVM) · 2024
QI DTVM (formerly Singulare)
The stack
Payments / PSP
Pix (self-operated)TED (self-operated)Boletos (self-operated)Card issuing (self-operated)Pix Automático (self-operated)
Banking / BaaS
QI Sociedade de Crédito Direto S.A. (in-house)
Card issuing
QI Tech (in-house)
Ledger
QI Tech (in-house)
Lending
QI Tech (in-house, SCD-licensed)Lending as a ServiceCCB issuance (Cédula de Crédito Bancário)CCI / CCE issuanceNota comercial (commercial paper)BNPL - Buy Now Pay LaterCrédito consignado privadoCrédito consignado públicoCrédito consignado do trabalhadorCartão consignado as a ServiceCorrespondente bancárioFGTS-backed credit
Open banking
Open Finance (mentioned as Risk Solutions product)
Accounting gap: minor