Qred and Webrock Launch Joint Venture in Brazil
Fintech scale-up Qred and investment company Webrock Ventures today announce a joint venture in Brazil. Qred’s digital technology for SME lending will be combined with local expertise and financing from Webrock Ventures and Swedish investment fund manager Atlant Fonder.
“The vast majority of small businesses still lack access to credit in order to invest and grow, despite the Brazilian economy digitizing at full tilt,” says Emil Sunvisson, CEO of Qred.
Adriano Duarte, Co-founder and CEO of the new Brazilian company, adds: “It is important to establish a well-functioning small business financing in Brazil that will foster both individual SME businesses and the nation’s economic development. That’s where we have an important and impactful role to play."
In partnership with Webrock Ventures, Qred will establish its business model in a country where over 15 million small businesses generate over 25% of the country's GDP, and SMEs account for 2/3 of all private sector employment.
"We are very excited about this investment, which fits naturally into our portfolio of fast-growing tech companies with Nordic roots in Brazil. Together with Qred and Atlant Fonder, we have great potential to be a viable player in online corporate loans in one of the world’s largest and fastest growing digital economies,” says Joakim Pops, Founding Partner at Webrock Ventures.
The driver behind Qred’s progress in Europe is a fully digital application process integrated with scores of sources of credit data, combined with with high-touch personal service. This has allowed Qred, since its 2015 inception, to quickly expand from Sweden to Finland, Denmark and the Netherlands.
“Qred has shown that loans to small companies provide very strong risk-adjusted returns with a low correlation to the fixed income and equity markets. Demand for this type of asset is growing rapidly and we see great potential to increase exposure to Brazil,” says Taner Pikdöken, manager of Atlant Fonder.
Karin JihdePress OfficerTel:+email@example.com
About Qred Holding AB (publ) eng
Qred is Sweden's fastest growing fintech company, and is the market leader in the Nordic region within corporate loans up to one million SEK. Since its start in 2015, Qred has lent over two billion SEK to support small business investments and working capital. Having grown 7000% since 2015, Qred had a turnover of 126 million SEK in 2018 and today has 55 employees in Stockholm, Helsinki and Riga.
About Webrock Ventures
Webrock Ventures is an investment company that generates shareholder value by creating joint ventures with Swedish tech-related companies to build and develop new, successful companies in Brazil. Using our experience and understanding of doing business in the country, we provide access to a unique operational expertise that ensures our companies grow and prosper.
About Atlant Fonder
Atlant Fonder AB is a hedge fund management company founded in 2006. The firm currently manages in excess of 5 billion SEK mainly in market neutral absolute return strategies.
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Latest releases from Qred Holding AB (publ) eng
Qred’s year-end report: have helped more than 10,000 customers during Corona26.2.2021 10:15:00 CET | Press release
2020 is a year that we won’t forget anytime soon. Despite the pandemic, small business financier Qred reports a strong result with increased revenues of 56 % compared to the previous year. During 2020, Qred powered over 10,000 small businesses - a segment hit hard by the Corona outbreak and subsequent restrictions.
Qred teams up with foodora19.1.2021 13:15:00 CET | Press release
Qred, market leader within small business financing, begins 2021 by initiating a new partnership with marketplace and Q-commerce platform foodora. Together they will make sure that restaurants and cafés are provided access to financing suitable for their business.
Sweden's fastest growing fintech company releases quarterly report30.11.2020 12:15:00 CET | Press release
Swedish fintech company Qred releases its report for this year’s third quarter. The report shows that revenues increased by 41% and operating profit increased by 54%. Once again, Qred’s digital business model has proven efficient even in difficult economic times.
Qred receives license to provide payment services25.11.2020 09:45:00 CET | Pressmeddelande
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Qred sets sail on ambitious expansion plan8.10.2020 09:00:00 CEST | Press release
Sweden’s fastest growing fintech company, Qred, sets sail on an ambitious expansion plan by launching their platform in Belgium. This is the first step in their plan to more than double the number of active markets.
Qred increases income by 90 % first quarter 202028.5.2020 14:30:00 CEST | Press release
Qred’s growth in the first quarter of 2020 continued at a rapid pace, despite the difficult developments in the local and global economies. In early March, Qred was named Sweden’s fastest growing company and placed 8th in Europe, alongside global heavyweights, when the Financial Times published their annual list of Europe’s 1000 fastest growing companies. From mid-March, the situation in the market changed significantly as a result of the pandemic caused by the outbreak of the coronavirus. Qred’s business model is well suited to handle such downturns in the economy without large disruptions to our business. “We have been able to mitigate many of the effects caused by the corona virus thanks to our digitalized processes and cloud-based business model. In addition, we have a balanced customer base that extends across many industries, which spreads the risk further, “says Andrea Romander at Qred. The pandemic has however created uncertainty in the general economy going forward. The compan
Qred Holding AB publishes bond prospectus and applies for listing of its bonds on Nasdaq Stockholm17.4.2020 14:00:00 CEST | Press release
Qred Holding AB (publ) (the “Company”) has issued a senior secured bond loan of EUR 40,000,000 on 17 June 2019, within a total framework amount of EUR 100,000,000, on the Swedish bond market. The bonds carry a floating interest rate and mature on 17 June 2022. The Company will apply for listing of the bonds on the Corporate Bond list at Nasdaq Stockholm during May 2020 and the bonds are planned to be admitted to trading at Nasdaq Stockholm during May or early June 2020. In connection with this, the Company has prepared a prospectus. The prospectus has been approved by, and registered with, the Swedish Financial Supervisory Authority in accordance with the Regulation (EU) 2017/1129 of 14 June 2017 of the European Parliament and of the Council. The prospectus will be available on the Financial Supervisory Authority’s website (www.fi.se) and on the Company’s website (wp.qred.com/se/bond-information). For further information, please contact: Andrea Gyllencreutz Romander, Head of Communicat
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