Qred

At the centre of its offering is a fully digital platform that uses artificial intelligence and machine learning to perform credit assessments. This technology allows the firm to analyse both conventional financial data and alternative data sources to evaluate creditworthiness rapidly. Loan decisions are often delivered within 24 hours, enabling SMEs to secure essential working capital quickly. The company issues unsecured business loans of up to SEK 5 million, with repayment terms typically structured between one and three years.

Beyond loans, it has introduced a business credit card designed specifically for entrepreneurs. The card integrates expense management and digital receipt storage while offering cashback incentives, all within a fee-free framework. In 2023, the company obtained a full banking licence from Sweden’s financial regulator. This step marked a significant milestone, allowing the firm to operate as a licensed bank, lower its funding costs, and expand its services. With the licence, it launched savings accounts for both businesses and individuals, currently available in Sweden and Germany, protected by national deposit guarantees.

The organisation has expanded into several European markets, including the Nordics, the Netherlands, Belgium, and Germany. It reports having served tens of thousands of SMEs, building a client base across multiple industries. Its use of advanced data analytics not only supports rapid credit approval but also strengthens fraud detection and risk management. This approach aligns with the wider trend of technology-driven financial inclusion, making capital more accessible to businesses that may lack traditional collateral or long credit histories.

Over the years, the company has received recognition for its growth, appearing on rankings of Europe’s fastest-growing businesses and receiving awards such as the Nordic Scaleup Award. Backed by institutional investors, it has raised capital through both equity and debt to sustain its growth and expand its banking operations. Today, it continues to evolve as a fintech-driven bank, combining digital efficiency with financial services tailored to SMEs.