Axios Pro Exclusive Content

Fintech-focused QED raises $925 million for two funds

Lucinda Shen
May 23, 2023
Illustration of a blank check with a magnifying glass hovering over it, revealing a one hundred dollar bill within the glass

Illustration: Annelise Capossela/Axios

Nubank- and Credit Karma-backer QED Investors has raised $925 million for a pair of funds, the firm announced Tuesday.

Why it matters: Fintech-focused funds like QED are giving a floor to an industry that has recently fallen off its funding highs.

Details: QED raised $650 million for its eighth early stage fund, as well as $275 million for its second growth-stage fund. It will continue investing in companies in the U.S., the U.K. and Europe, Latin America, India and Southeast Asia, and Africa.

  • The firm previously raised $550 million for its seventh early stage fund and $500 million for its first growth-stage fund in September 2021.

Of note: This most recent growth-stage fund focuses specifically on "early" growth-stage companies, according a press release.

Go deeper