NEW: Seizing the Bank Charter Moment: Implications for Fintechs and Banks
Learn more

Return to Blog

March 28, 2025

QED Investors Co-Founder Frank Rotman to transition to Partner Emeritus at the end of the year

By

Table of Contents

h2
Example H2
h3
Example H3
h4
Example H4
h5
Example H5
h6
Example H6

ALEXANDRIA, Va. (March 28, 2025) -- Leading global fintech venture capital firm QED Investors announced today that co-founder Frank Rotman will transition to a Partner Emeritus role at the end of the year to focus on founding his own startups.

Rotman joined Managing Partner Nigel Morris to co-found QED with Caribou Honig in 2007. Rotman will transition to Partner Emeritus status and play a part-time advisory role over the coming years.

Named to Forbes magazine’s Midas List of the top 100 investors every year since 2018, Rotman led QED’s investment in Credit Karma and played an important role in the company’s investments in successful fintech unicorns including Greensky, Flywire and SoFi.

“It is a bittersweet moment for me because Frank and I have worked together for more than 30 years,” said Morris. “Frank, at his core, is an entrepreneur and I have no doubt he will excel in his next chapter. We are excited for him on a personal level and so very glad that we will continue to be able to call upon him for wisdom and guidance in his role as Partner Emeritus for years to come.”

With Rotman’s transition, QED Investors’ Partner Amias Gerety will be promoted to lead the U.S. investment team. Gerety, who joined QED in 2017, will join the Executive Committee and participate as an observer on the Investment Committee. He will report to Bill Cilluffo, who will resume his duties overseeing all of QED’s early stage investments. Mike Packer, Partner, Head of LatAm, will also join the Executive Committee and participate as an observer on the Investment Committee.  

“We are able to absorb Frank’s departure because we have built a world-class team at QED that can adapt and flourish in the light of change,” said Morris.

About QED Investors

QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages its partners’ decades of entrepreneurial and operational experience, helping companies achieve breakthrough growth. Notable investments include AvidXchange, Betterfly, Bitso, Caribou, ClearScore, Creditas, Credit Karma, Current, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer.
‍

Contact

Ashley MarshallDirector, PR and Communications
QED Investors
ashley@qedinvestors.com
(518) 577-9984

‍

ALEXANDRIA, Va. (March 28, 2025) -- Leading global fintech venture capital firm QED Investors announced today that co-founder Frank Rotman will transition to a Partner Emeritus role at the end of the year to focus on founding his own startups.

Rotman joined Managing Partner Nigel Morris to co-found QED with Caribou Honig in 2007. Rotman will transition to Partner Emeritus status and play a part-time advisory role over the coming years.

Named to Forbes magazine’s Midas List of the top 100 investors every year since 2018, Rotman led QED’s investment in Credit Karma and played an important role in the company’s investments in successful fintech unicorns including Greensky, Flywire and SoFi.

“It is a bittersweet moment for me because Frank and I have worked together for more than 30 years,” said Morris. “Frank, at his core, is an entrepreneur and I have no doubt he will excel in his next chapter. We are excited for him on a personal level and so very glad that we will continue to be able to call upon him for wisdom and guidance in his role as Partner Emeritus for years to come.”

With Rotman’s transition, QED Investors’ Partner Amias Gerety will be promoted to lead the U.S. investment team. Gerety, who joined QED in 2017, will join the Executive Committee and participate as an observer on the Investment Committee. He will report to Bill Cilluffo, who will resume his duties overseeing all of QED’s early stage investments. Mike Packer, Partner, Head of LatAm, will also join the Executive Committee and participate as an observer on the Investment Committee.  

“We are able to absorb Frank’s departure because we have built a world-class team at QED that can adapt and flourish in the light of change,” said Morris.

About QED Investors

QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages its partners’ decades of entrepreneurial and operational experience, helping companies achieve breakthrough growth. Notable investments include AvidXchange, Betterfly, Bitso, Caribou, ClearScore, Creditas, Credit Karma, Current, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer.
‍

Contact

Ashley MarshallDirector, PR and Communications
QED Investors
ashley@qedinvestors.com
(518) 577-9984

‍

Download White Paper

No items found.

Blog Posts

Why QED invested in Velocity

The global payments system is an essential part of financial infrastructure, but its core settlement layer has seen little innovation.

Read article

The evolution of stablecoins in a native-first world

Six takeaways from the Bitso Stablecoin Conference in CDMX

Read article

The third wave: Why the agent economy needs a new financial stack

Agents will be actors in the financial system. Not just tools that help humans make decisions, but autonomous entities that plan, act and transact on behalf of users and organizations.

Read article

Test column heading 1

Test column heading 2

Test column heading 3

Test column heading 4

This is a longer lorem ipsum text 1
This is a longer lorem ipsum text 2
This is a longer lorem ipsum text 3
This is a longer lorem ipsum text 4
This is a longer lorem ipsum text 5
This is a longer lorem ipsum text 6
TEst row
TEst row
TEst row
TEst row
TEst row
TEst row
No items found.
No items found.
No items found.
No items found.

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.