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October 5, 2021

QED Investors named to Inc.'s 2021 Founder-Friendly Investors list

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QED Investors has been named to Inc's third annual Founder-Friendly Investors list, honoring the venture capital and private equity firms with the best track record of success backing entrepreneurs.

This is a shift from previous lists—which were called the Private Equity 50—since, for the first time, this year’s edition includes venture capital firms.

The final list recognizes firms that entrepreneurs can trust and collaborate with while receiving the financial support they need to help accelerate growth. QED’s inclusion highlights our successful track record of remaining actively involved in portfolio companies after initial investments.

“Being named to Inc.’s list of Founder-Friendly Investors is confirmation that QED’s mission to provide the best advice in fintech is resonating in the ecosystem. It is a great expression of who we are and what we stand for,” said QED Investors Co-Founder and Managing Founder Nigel Morris. “At QED, we pride ourselves on being the very best partner to entrepreneurs and CEOs – there’s a huge difference between investing in companies and building successful companies, and nobody knows how to navigate that journey better than we do.

“QED was bootstrapped and we have been through many of the same problems that today’s entrepreneurs face. Many of our investment professionals have built successful companies out of the ground, and when you look back to Capital One which I co-founded, that’s still the only Top 10 U.S. bank built from nothing in the past 100 years.”

QED has exclusively invested in fintech since its inception in 2007 and has played a crucial part in the growth of some of today’s fintech behemoths including Credit Karma (QED led its Series A round in 2009), Remitly (QED led its Series A in 2014), Nubank (QED participated in its Series A in 2014) and AvidXchange (QED participated in its Series B in 2014).

QED has been a leader in the fintech investing community throughout fintech’s evolution, having guided and grown these companies and others through the ecosystem’s boom ­– globally, fintech investment was $928 million in 2008 and $105 billion in 2020. QED has invested in more than 150 companies across 13 countries worldwide, backing a total of 21 unicorns, the majority of which were at the pre-seed, seed or Series A stage.

“Supporting an entrepreneur’s vision and driving growth is more than just a financial investment. It’s about building a relationship and supporting the founders beyond that initial year. These private equity firms treat the founders like partners,” says Scott Omelianuk, editor-in-chief of Inc. media.

To compile the list, Inc. went straight to the source: entrepreneurs who have sold to private equity. Founders filled out a questionnaire about their experiences partnering with private equity firms and shared data on how their portfolio companies have grown during these partnerships.

To see the complete list, click here.



About QED Investors

QED Investors is a global leading boutique venture capital firm based in Alexandria, VA. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in early stage, disruptive financial services companies in the U.S., U.K., Latin America andSoutheast Asia. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages our partners’ decades of entrepreneurial and operational experience, helping their companies achieve breakthrough growth. Notable investments include AvidXchange, Bitso, ClearScore,Current, Creditas, Credit Karma, GreenSky, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly and SoFi.

 



QED Investors has been named to Inc's third annual Founder-Friendly Investors list, honoring the venture capital and private equity firms with the best track record of success backing entrepreneurs.

This is a shift from previous lists—which were called the Private Equity 50—since, for the first time, this year’s edition includes venture capital firms.

The final list recognizes firms that entrepreneurs can trust and collaborate with while receiving the financial support they need to help accelerate growth. QED’s inclusion highlights our successful track record of remaining actively involved in portfolio companies after initial investments.

“Being named to Inc.’s list of Founder-Friendly Investors is confirmation that QED’s mission to provide the best advice in fintech is resonating in the ecosystem. It is a great expression of who we are and what we stand for,” said QED Investors Co-Founder and Managing Founder Nigel Morris. “At QED, we pride ourselves on being the very best partner to entrepreneurs and CEOs – there’s a huge difference between investing in companies and building successful companies, and nobody knows how to navigate that journey better than we do.

“QED was bootstrapped and we have been through many of the same problems that today’s entrepreneurs face. Many of our investment professionals have built successful companies out of the ground, and when you look back to Capital One which I co-founded, that’s still the only Top 10 U.S. bank built from nothing in the past 100 years.”

QED has exclusively invested in fintech since its inception in 2007 and has played a crucial part in the growth of some of today’s fintech behemoths including Credit Karma (QED led its Series A round in 2009), Remitly (QED led its Series A in 2014), Nubank (QED participated in its Series A in 2014) and AvidXchange (QED participated in its Series B in 2014).

QED has been a leader in the fintech investing community throughout fintech’s evolution, having guided and grown these companies and others through the ecosystem’s boom ­– globally, fintech investment was $928 million in 2008 and $105 billion in 2020. QED has invested in more than 150 companies across 13 countries worldwide, backing a total of 21 unicorns, the majority of which were at the pre-seed, seed or Series A stage.

“Supporting an entrepreneur’s vision and driving growth is more than just a financial investment. It’s about building a relationship and supporting the founders beyond that initial year. These private equity firms treat the founders like partners,” says Scott Omelianuk, editor-in-chief of Inc. media.

To compile the list, Inc. went straight to the source: entrepreneurs who have sold to private equity. Founders filled out a questionnaire about their experiences partnering with private equity firms and shared data on how their portfolio companies have grown during these partnerships.

To see the complete list, click here.



About QED Investors

QED Investors is a global leading boutique venture capital firm based in Alexandria, VA. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in early stage, disruptive financial services companies in the U.S., U.K., Latin America andSoutheast Asia. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages our partners’ decades of entrepreneurial and operational experience, helping their companies achieve breakthrough growth. Notable investments include AvidXchange, Bitso, ClearScore,Current, Creditas, Credit Karma, GreenSky, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly and SoFi.

 



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01

Settlement Collapse

Value transfer moves from days - corresponding banking, T+1 securities - to seconds. Working capital tied up in float is released.

02

Cost Collapse

Marginal transaction cost approaches zero: fractions of a cent, versus 1-6% on card and corresponding rails.

03

Programmability

Money becomes an object that carries logic - escrow, splits, rebates, compliance - executed by code, not back offices.

Pure infrastructure with no revenue accrual

Layer-1 chains and general-purpose middleware — outside our circle of competence and typically outside our stage.

Speculative asset creation

NFT platforms, memecoins, prediction markets styled as products — mapping to none of the five functions; structurally uninvestable for us.

Three structural truths cut across all five functions.

(a)

Regulated-first wins

The 2020/21 cycle proved permissionless purity does not survive contact with real financial regulation. GENIUS, MiCA, CLARITY and the UK/Singapore regimes are producing founders who start from “how do we get licensed” and build backwards — precisely the founder profile QED has always preferred.
(b)

Incumbents upgraded, not disintermediated

JPMorgan, Citi, Bank of America and Wells Fargo are jointly building a tokenized-deposit network; Visa launched a stablecoin platform in July 2026; 140+ businesses signed an open stablecoin standard. Banks migrate — and new-generation infrastructure companies own the picks and shovels of that migration.
(c)

Emerging markets feel it first

Every function improves most where the fiat experience is worst: cross-border payments, dollar access, investment product availability, working-capital finance. Those are exactly the geographies where QED has fintech ventures’ deepest footprint. Our geographic distribution is not incidental to the tokenization thesis — it is the thesis.

Trade & working-capital finance

Finkargo( LatAm import finance) and OatFi(B2B working-capital infrastructure) sit directly on flows whose logical settlement layer is stablecoin.

Collateralized digital-asset lending

Tokenized Treasuries, equities and stablecoin holdings as instant, programmable collateral.

On-chain private credt

Maple, Centrifuge and emerging institutional protocols - credit funds migrating to programmable rails.

Why QED is advanced

Credit is QED's craft: distinguishing lending businesses from fintechs pretending to be one, charge-offs earned from charge-offs deferred. On-chain credit is a straight-line extension, not a stretch.