Venture firm QED raises $925 million in funding 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.