Qred Holding AB (publ) eng

Interim report - Qred grows lending to small businesses with 88%


Continued strong growth has characterized the first half of the year. Qred is growing in both established markets such as Sweden and Finland, as well as in newer markets such as Denmark and the Netherlands. The group's costs are increasing slightly faster than the growth.

First half year 2019

  • The loan portfolio increased by 88% to SEK 472.9 m (251.3)
  • Interest income increased by 72% to SEK 100.5 m (58.4)
  • Operating income increased by 64% to SEK 91.4 m (55.7)
  • Operating profit increased by 31% to SEK 17.4 m (13.2)
  • Profit for the period increased by 7% to SEK 15.1 m (14.0)

Second quarter 2019

  • Operating income increased by 58% to SEK 48.0 m (30.3)
  • Operating profit decreased by 9% to SEK 9.9 m (10.9)
  • Profit for the period decreased by 11% to SEK 8.6 m (9.6)

Significant events during the second quarter

  • In June, the company issued a bond. The total bond framework is EUR 100m, of which EUR 40m has been utilized. The bond has a maturity of 3 years and has a coupon of EURIBOR + 8.5% which is paid quarterly.
  • The AGM has appointed Andrea Gisle Joosen as board member
  • The company has issued 20,000 new ordinary shares to Andrea Gisle Joosen

CEO Emil Sunvisson comments the quarter

–Qred continues to grow fast, challenging the banks within financing directed to the small businesses. We know that most small businesses want to have a simple and smooth financing solution without any hassle. By using digital processes, we have become the market leader in the Nordics within business loans up to SEK 1 million, and we are growing quickly in the Netherlands, says Emil Sunvisson.

More information: Interim report Q2 2019





Qred Holding AB (publ) eng
Qred Holding AB (publ) eng

Qred helps small companies grow by providing fair and accessible financing. Launched in Sweden in 2015, Qred has expanded to Finland, Denmark and the Netherlands, offering entrepreneurs loans for investments and working capital. An automated and fully digital process keeps costs and credit losses low, while simultaneously giving customers the user experience they deserve and expect. Qred was created for entrepreneurs, by entrepreneurs, and is helping redefine small business financing in northern Europe.

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