Patrick Sigrist, founder of iFood and Nomad, has launched IORQ, a credit technology platform managing BRL2.5bn ($459mn) and backed by a BRL35mn funding round, the company said in a press release.

Investors include Monashees, Upload Ventures, ONEVC and Norte. The company said the capital will be directed towards expanding and strengthening its technology infrastructure.

“We are supporting IORQ because we believe there is a significant opportunity to build a major credit company in Brazil, with genuine technology and a proven team to deliver,” said Monashees founding partner Eric Acher.

IORQ integrates the operations of Quatá, a credit manager with over 16 years in structured credit, bringing a specialised team with technical expertise.

The company aims to coordinate the full credit chain, from borrowers to investors, enabling firms to operate as financial platforms.

“The IORQ model is a complete and modular infrastructure for the new credit economy,” said Sigrist. “We provide integrated funding and technology for companies to originate loans, manage guarantees, control risk and scale their ecosystems through white-label APIs.”

Chief executive Beatriz Degani said the platform will go beyond providing capital by enabling embedded finance and reaching underserved market segments.

COO Bernardo Mergár added that IORQ’s AI-driven process allows greater control over loan monitoring, collection and guarantees, reducing administrative and recovery costs.

The company said its approach serves both firms seeking funding and those wanting to operate proprietary credit programmes for customers, suppliers or employees, with its team bringing experience from institutions including Nubank and Itaú.