Led · Equity · Sep 2021

Qred, founded in 2015 and based in Stockholm, operates a fully automated credit platform offering small businesses access to financing. The company targets a market underserved by big banks and has worked with some 25,000 small businesses over the past six years. Qred reports approximately 12,000 monthly active users. It has been primarily active in the Nordics and the Netherlands and entered Brazil in 2020 via a joint venture with Webrock. Product expansion is central to its growth strategy: the company recently hired former Klarna Senior Product Manager Marcus Uggla and launched a small-business credit card. Management says a broadened product range is integral to future growth.