Venture Firm QED Raises $925 Million for Fintech Investing

QED Investors, the financial technology-focused venture firm that was an early backer of Credit Karma, has raised $925 million for two new funds.

The firm, based in Alexandria, Virginia, said it has closed on $650 million for its early stage fund and $275 million for what it calls an early growth-stage fund.

QED, which has also backed Klarna, Remitly and Nubank, will continue to invest globally. Categories that the firm invests in include payments, lending and crypto.

The firm was started in 2007 by Nigel Morris and Frank Rotman. In an interview, Morris acknowledged that it’s been tough ...