By Charlie Innis (November 5, 2021, 6:55 PM EDT) — QI Tech, a Sao Paulo-based financial technology company that aims to help businesses offer digital banking services, said Friday it raised $50 million in a Series A funding round led by GIC Pte. Ltd., Singapore’s sovereign wealth fund.
The Brazilian fintech company plans to use the additional capital to build new products, develop its data science team and quadruple its total number of employees. It may also look into mergers and acquisitions deals as part of its growth strategy, according to an announcement.
QI Tech bills itself as the first so-called direct credit company to be approved by the Brazilian Central…
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