News

Fifth Third teams with VC firm to further fintech strategy

January 31, 2017

Fifth Third Bancorp has announced a partnership between Fifth Third Capital Holdings and financial technology venture capital firm QED Investors.

Under the partnership, QED Investors will advise Fifth Third as the FI seeks to leverage fintech innovation to bring new products and services to bank customers.

"There is an unprecedented amount of innovation emerging in all parts of the financial services ecosystem," Tim Spence, executive VP and chief strategy officer for Fifth Third Bancorp, said in the release. "Our partnership with QED should enable us to identify new, high-potential technologies to complement our internal R&D and innovation efforts."

Fifth Third Capital and QED Investors led the ApplePie Capital Series B capital raise in the fourth quarter of 2016. Fifth Third Capital and QED are also investors in GreenSky and AvidXchange.

Fifth Third Capital continues to seek strategic investments in Fintech companies in the U.S. market, the release said.