Quickbit eu AB

About Quickbit eu AB

Quickbit eu AB, set to rebrand as Valuno Group AB in early 2025, is a Swedish financial technology firm established in 2016. The company has positioned itself in the digital currency space with a mission to integrate cryptocurrencies into the daily financial activities of both individuals and businesses. Since July 2019, Quickbit has been publicly listed on the NGM Nordic SME, a marketplace for small and medium-sized growth companies. Financial reports indicate a material uncertainty regarding the company's ability to continue as a going concern, contingent on the success of cost-saving programs and improved profitability to secure necessary financing.

The company's business model is bifurcated, serving both consumer (B2C) and merchant (B2B) segments. For consumers, Quickbit provides a suite of products designed to simplify cryptocurrency usage. This includes the Quickbit App, a free-to-use hosted cryptocurrency wallet that allows users to buy, sell, store, exchange, and transfer digital currencies. Complementing the app is the Quickbit Card, a VISA debit card that enables users to make payments online, in stores, and withdraw cash from ATMs using their funds. The consumer offering, which also features an 'Earn Wallet' for earning interest on crypto holdings, is available in Sweden, Norway, Finland, and the Netherlands. Revenue from consumer transactions is generated through a spread on the exchange rate and a variable "Quickbit Fee" for buying and selling crypto.

For the business-to-consumer market, Quickbit offers payment solutions that allow e-merchants to accept cryptocurrencies. The flagship product, Quickbit Pay, is a payment gateway that integrates into a merchant's checkout process via an API, enabling customers to pay with various cryptocurrencies. The platform provides merchants with a back-office to monitor transactions and settles payments in either crypto or fiat currency. Quickbit Checkout is another merchant product designed to work in tandem with Quickbit Pay to attract a wider range of customers. The company has seen recent growth through new partnerships and the adoption of its in-house developed products, signing several small and medium-sized businesses and larger e-retailers like Inet. Recent financial updates from late 2024 and early 2025 show significant increases in monthly revenues, attributed to general growth and strong holiday trading.