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QED Investors raises $1b for FinTech funding

By Delisha Fernandes

May 24, 2023

  • Capital
  • Companies
  • Credit Karma
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QEDQED Investors announced that it has closed two new funds with combined capital commitments of $925 million.

The new capital commitments comprise Fund VIII, an oversubscribed $650 million early-stage fund, and Growth II, a $275 million early growth-stage fund. These funds will allow QED to continue investing in disruptive FinTech companies in the US, the UK, Europe, Latin America, India, Southeast Asia, and Africa.

“We are excited, fortunate and privileged to be a steward of our investors’ capital,” said Nigel Morris, Investors Managing Partner and Co-Founder of QED. “We thank our returning LPs and are grateful for the confidence shown in us by our new LPs. We are excited to have the capital to build the next generation of great FinTech companies over the coming cycle.”

QED has exclusively invested in FinTech since its inception and has played a crucial part in the growth of some of today’s FinTech behemoths. QED led the Series A rounds of Credit Karma, Remitly and Nubank, led AvidXchange’s Series B, participated in Klarna’s Series F, and was among the first institutional investors in Greensky.

“QED is an outstanding partner,” said Justin Basini, CEO ClearScore. “They have been intimately involved in every stage of The ClearScore Group, from founding, to start up, through scale up, to now a group of companies serving 20 million users on four continents. Their deep insight, frameworks for thinking, operational experience and emotional support over the years have been invaluable to our success.”

Matt Oppenheimer, CEO of Remitly, said, “As an early investor in Remitly, QED has been an invaluable partner through critical phases of our business growth. As Remitly has evolved on our journey to transform international payments for immigrants and their families, QED has been a steady force offering strategic guidance, inspiring long-term focus and encouraging a fail-fast and learn mentality.”

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