Alexandria venture capital firm secures $350M in funding
QED Investors has funded Credit Karma, SoFi, among others
Alexandria-based boutique venture capital firm QED Investors secured $350 million in funding for fintech companies in North America, South America and the United Kingdom, the company announced Wednesday, making it the sixth round of funding in the firm’s 12-year history.
QED was co-founded in 2007 by Frank Rotman and Capital One Financial Corp. co-founder Nigel Morris. It has invested in more than 120 early-stage, disruptive financial services companies, including U.S. companies SoFi, Credit Karma Inc., GreenSky, Avant LLC, Flywire and Remitly. In total, it has more than $1.6 billion under management.
“As experts in fintech, they bring unique knowledge of the space that has enabled us to be proactive and intentional as we scale a rapidly growing business,” said Matt Oppenheimer, founder and CEO of Remitly, which allows customers to send money internationally via mobile phone. “Remitly would not exist as it does today without the ongoing support of QED.”
Credit Karma, another company which received early funding from QED, was bought by Intuit on Feb. 24 for $7.1 billion in cash and stock.