Nordic Capital partners with Qred
Nordic Capital Evolution has signed an agreement to invest in the fintech company Qred. The investment will be made in partnership with Qred’s management and founders, with the goal of continuing to significantly expand the business across Europe together.
Since its inception in 2015, Qred has been a provider of financing and payment services to small businesses in the Nordics and the Netherlands, with its fully automated credit system, digital platform and easy, innovative solutions for entrepreneurs seeking financing. Nordic Capital will support the company in driving growth, investing in new products for responsible and inclusive lending, and increasing its international presence.
“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,” says Emil Sunvisson, CEO and co-founder of Qred.
Qred has recently launched the first credit card aimed for small businesses that have historically had difficulty gaining access to credit. The credit card offering will allow small businesses to take advantage of a credit facility to grow their business and to use a range of smart features including digital expense management. The broadened product range is an important part of helping small businesses to access better, automated credit services and is part of Qred's growth strategy.
Nordic Capital will become a significant shareholder in the company, while the current founder and management will remain as majority owners. As an active partner, Nordic Capital will support Qred’s future growth journey with its extensive expertise in financial services and its broad international network and will provide capital for innovative investments in technology and new product development.
“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,” says David Samuelson, Principal, Nordic Capital Advisors.