QI Tech Earns ‘AA-(bra)’ Rating from Fitch, Reinforcing Its Leadership in Brazilian Fintech Infrastructure
QI Tech — Brazil’s leading Banking as a Service (BaaS) fintech and the country’s largest FIDC administrator and custodian (according to ANBIMA) — has been upgraded by Fitch Ratings to a long-term ‘AA-(bra)’ rating with a Positive Outlook.
According to Fitch, the upgrade reflects QI Tech’s growing scale, diversified revenue streams, and strong financial profile. The Positive Outlook indicates expectations of continued growth in clients and revenue, further consolidating QI Tech’s position among top-rated Brazilian financial institutions — and making it the only BaaS fintech in the AA rating group nationwide.
Fitch Ratings highlights QI Tech’s financial strength, revenue diversification, and growth potential in its latest assessment.
“This recognition by Fitch strengthens our commitment to building a solid, reliable, and scalable financial infrastructure to support our clients’ accelerated growth. Security and resilience have always been priorities at QI Tech, and the AA- rating validates that we are on the right track,” said Pedro Mac Dowell, CEO of QI Tech.
Image credit: Reuters / Fitch Ratings
With over 400 active clients, QI Tech became Brazil’s only fintech unicorn in 2024 and continues to drive the future of financial services through proprietary technology, an AI-first mindset, and a focus on security and compliance. Its full-service infrastructure covers Banking as a Service, Lending as a Service, Risk Solutions, and a licensed DTVM (Securities Dealer).
Low Credit Risk and Strong Liquidity
Fitch also underscored QI Tech’s low credit risk, as operations remain on its balance sheet for short periods and are largely transferred to third parties. The firm maintains high-quality assets, with 56% in government bonds.
Additionally, QI Tech demonstrates robust capitalization and liquidity, posting a 63% core capital ratio as of June 2025—well above regulatory requirements—and R$411 million in cash reserves, complemented by contingency lines with top-tier banks.
About QI Tech
QI Tech is an AI-first fintech infrastructure company providing advanced technological and regulatory solutions for financial services. It was the first firm licensed as an SCD by the Central Bank of Brazil and also holds a CVM-approved DTVM license.
The company delivers end-to-end credit lifecycle solutions — from client onboarding, fraud prevention, and credit scoring, to large-scale payments, digital accounts, and investment fund administration.
In 2023, QI Tech secured a R$1 billion investment led by General Atlantic. In 2024, it raised additional capital from existing investors, becoming Latin America’s only unicorn in fintech infrastructure. By July 2025, it had reached the top of the ANBIMA ranking as the largest FIDC administrator and custodian in Brazil.
With proprietary APIs, regulatory licenses, and a commitment to innovation, QI Tech is shaping the future of financial infrastructure in Brazil.
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