Since its founding in 2018, QI Tech has been strengthening its infrastructure offering behind the financial products and services of fintechs and companies from a wide variety of sectors. This includes different credit modalities as well as the custody and administration of Investment Funds in Credit Rights (FIDCs) for these clients.
After gaining traction in these and other areas, the company is definitively establishing itself in a new frontier: the private fixed income market, with the structuring of a clearing bank and a registration arm for debentures , CRIs , CRAs , receivables certificates, and commercial notes .
“We are already managing to digitize processes that are still very physical and not very automated, such as in the case of FIDCs,” says Pedro Mac Dowell , co-founder and CEO of QI Tech, to NeoFeed . “And we had been looking for other spaces where there is also an outdated structure offered by traditional players.”
The debut in these new areas puts QI Tech in direct competition with two groups that currently dominate these markets. On one side, the large banks , and on the other, names like Oliveira Trust and Vórtx .
With this offering "on the street" for just a few weeks, QI Tech has already passed an initial validation test by accounting for a balance of R$ 1.5 billion in four operations during that period – including two debenture issuances, a real estate receivables certificate (CRI), and a commercial note.
The initial strategy to begin scaling this offering will be to leverage the existing clients served by QI Tech. Currently, this base includes approximately 700 companies, among them names like Vivo, Wellhub, and 99.
At the same time, the fintech understands that the new arms can be the gateway to new customer profiles in this portfolio. In particular, the banks that coordinate and distribute these offerings, as well as the large securitization companies behind the issuance of these securities.
Based on efforts across these three areas, QI Tech projects closing 2026 with a settlement volume in the range of R$30 billion to R$32 billion, through dozens – perhaps hundreds – of operations. In addition, it expects to bring 70 to 100 new clients into the company.
“This offer is not a proof of concept. It’s already a reality,” says Mac Dowell. “We’re going to be very aggressive in pursuing these clients, and our projection is that these areas will account for 6% of our business within twelve months. And that, in three years, they will generate at least R$100 million in revenue.”
The decision to venture into these new arenas is also fueled by a context of inflated bank credit driven by high basic interest rates. In this scenario, instruments such as debentures have gained strength as a more viable alternative for financing companies.
According to Anbima, the Brazilian capital market recorded R$ 838.8 billion in fundraising in 2025, a 6.4% increase and the highest figure in the historical series compiled since 2012.
Of this total, which includes everything from fixed income to hybrid securities such as real estate funds and follow-on offerings, debentures totaled R$ 492.8 billion. Commercial notes, on the other hand, grew by 18.9%, to R$ 51.8 billion.
QI Tech didn't start from scratch with the ambition of grabbing a considerable share of this billion-dollar amount. It begins with the experience gained in the field of FIDCs (Investment Funds in Receivables), where, according to Anbima itself, the startup leads with a volume of R$ 175 billion under management.
On another front, the fintech already held the necessary licenses to provide these services, such as those for Securities Brokerage (CTVM) and Direct Credit Society (SCD). The next step, taken about six months ago, was to build and mature the technology behind this offering.
“We took this time to be sure we had the necessary technology in hand to change the standards of this market,” says Pedro Camacho, commercial director of QI Tech. “We have a motto here. If it means putting a bunch of spreadsheets and a battalion of people behind it, we won’t do it.”
In putting this discourse into practice, the fintech company is launching a platform that centralizes all information about an issuance. This includes everything from bondholders and maturities to issues such as interest payments and the occurrence of events, like potential early termination of covenants in a debenture.
With the ability to manage each stage of the issuance, the tool also includes an Escrow account for the transit of funds and guarantees. And it has native integration with B3, which provides real-time access to data such as secondary market transactions, which are automatically recorded on the platform.
“Today, this is done through email exchanges, phone calls, or even physical documents, in a fragmented way and with many actors involved, which favors human error,” says Mac Dowell. “This model becomes chaotic because you talk to one link in the chain, but you don’t necessarily talk to everyone.”
Camacho, in turn, highlights the fact that the platform brings together, in a single environment, the information necessary for issuers, fiduciary agents and coordinators of the offerings, as well as legal advisors and investors.
“The idea is to provide a complete, end-to-end infrastructure for all the players involved in these emissions,” says Camacho. “The goal is to bring more efficiency, transparency, control, and security to these processes. And, with that, to democratize a market that is still very bureaucratic.”
Although he doesn't reveal the startup's total revenue, which has investors like General Atlantic and the Singapore Sovereign Wealth Fund (GIC) and a valuation of over US$2 billion, Mac Dowell emphasizes that the fintech company is already large enough for an IPO. But that this is a path that should only be taken in 2027.
“We want to do a large-scale IPO, with a valuation of several billion dollars,” says the co-founder of QI Tech. “So, before that, we will continue with our M&A strategy, which includes, among other things, further strengthening our offering of custody and administration of FIDCs (Investment Funds in Credit Rights).”
