September 15, 2021
Nordic Capital has invested in the fintech company Qred.
Qred is a provider of financing and payment services to small businesses in the Nordics and the Netherlands, with a fully automated credit system, digital platform and innovative solutions for entrepreneurs seeking financing. Since its inception in 2015, Qred’s has now served over 25,000 small businesses in Sweden, Finland, Denmark, the Netherlands and Belgium. In 2020, Qred entered the Brazilian market through a joint venture. Today, Qred has around 12,000 monthly active users of their financing solutions and other credit services.
Emil Sunvisson, CEO and co-founder of Qred, said: “Qred has shown that there is a large and growing demand for small business loans that the big banks fail to address. We are now ready to take the next step in the expansion of our digital product offerings by developing Qred into the leading financial platform for small businesses in Europe. I am thrilled to have Nordic Capital on board. They are the best possible partner for us on this journey, and we look forward to drawing on their expertise within technology and financial services and benefitting from their large international network.”
David Samuelson, Principal, Nordic Capital Advisors, added: “We are very impressed by Qred’s strong development and innovative model. By identifying a new market segment and combining it with leading technology, the company has opened the door for many small businesses to grow and realise their dreams. Studies show that lack of financing is one of the biggest challenges for small businesses, while funds lent to small businesses can considerably increase GDP growth, the creation of new jobs and significant extra tax revenues. Together with Qred’s management and founders, Nordic Capital sees great potential to further accelerate growth, expansion into new geographies and the development of new solutions for small businesses.”