Brazil's QI Tech gets unicorn status after fresh General Atlantic-led investment

Reuters

April 25, 2024 at 4:32 p.m.·1 min read

SAO PAULO (Reuters) - Brazilian financial services provider QI Tech has reached a valuation of more than $1 billion, it said in a statement on Thursday, getting "unicorn" status after a new investment round led by equity investor General Atlantic.

QI Tech, which provides anti-fraud and banking services for other firms, said that existing shareholders General Atlantic and Across Capital made an extra capital injection related to a $200 million investment round announced last October.

At the time, QI Tech's chief financial officer told Reuters the company would prepare "for an IPO (initial public offering) window when we have one".

(Reporting by Patricia Vilas Boas; writing by Andre Romani; editing by Diane Craft)

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