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
Interim report Q1: Commission income increased by 171%14.5.2021 14:30:00 CEST | Press release
January-March 2021 Qred continued to grow during the quarter and consolidated its position as market leader in the Nordic region and the Netherlands / Belgium. Qred's automated, smart and easy to use products that simplify financing for small businesses are much appreciated in the customer segment, and has resulted in Qred having Sweden's most satisfied customers with an average rating of 4.8 on Trustpilot. Commission income increased by 171% as a result of an increasing amount of loans being brokered. The number of active customers increased by more than 3,000 and amounted to 10,408 (7,387). Adjusted for extraordinary revenues in Q1 2020, revenues increased by 40% to SEK 80.1 m (57.4). Large resources are invested in developing new services. Qred will launch a unique credit card tailored for small businesses. The card comes with a number of features such as automated accounting, credits approved in real-time and improved ability to control the company's expenses. Values for the same
Introducing the Qred Credit Card - it's time to stop leaving small businesses behind11.5.2021 09:30:00 CEST | Press release
Most small businesses have difficulties getting a credit card and many struggle with handling all of their paper receipts. Qred, one of the fastest growing companies in Europe, will approve credit cards in real time and automate their customers’ accounting when launching the first credit card specifically designed for small businesses in the Nordics.
Qred publishes annual report29.4.2021 20:30:00 CEST | Press release
Stockholm, 29 April 2021 - Today, Qred releases the annual report for 2020. Qred reports an increase in operating income of 57 percent compared with the previous year and the number of active users increased by 29 percent. Despite a year marked by the pandemics and restrictions, the fintech company has doubled the number of employees by hiring 60 new colleagues. In addition, Qred has helped tens of thousands of entrepreneurs in six markets through a very turbulent time. In 2020, Qred received an AIS / PIS license, which enables the development of new smart services. In addition, Qred launched in the company's sixth market; Belgium. “Qred is needed more than ever to support small businesses and help the next generation of heroes. We want to do what we can. Together, we create the conditions small companies need to be able to create growth, ”says Emil Sunvisson, CEO of Qred. Read the full report here: Annual Report 2020
Qred Holding AB (publ) obtains approval from bondholders to delist its senior secured bonds 2019/2022 from trading on regulated exchanges and multilateral trading facilities and applies for delisting19.4.2021 15:00:00 CEST | Pressmeddelande
Qred Holding AB (publ), Reg. No. 559031-0685 (the “Company”), has concluded the written procedure instigated on 22 March 2021 (the “Written Procedure”) that sought approval from bondholders (“Bondholders”) to amend the terms and conditions (“Bond Terms and Conditions”) to permit delisting of its senior secured bonds 2019/2022 with ISIN SE0012507267 (the “Bonds”) from trading on regulated exchanges and multilateral trading facilities. Participating Bondholders formed the requisite quorum and voted unanimously in favour of the request to amend the Bond Terms and Conditions. Consent to amend the Bond Terms and Conditions was deemed to be granted as from the expiry of the voting period on 16 April 2021. The results of the Written Procedure will also be sent by post to Bondholders, as well as be published on the website of the Bond agent, Nordic Trustee & Agency AB (publ) (www.nordictrustee.com). The amended Bond Terms and Conditions will be made available on the Company’s website. Each Bon
The Qred Group disposes of bonds to a total nominal amount of EUR 3,000,00023.3.2021 17:00:00 CET | Pressmeddelande
Qred Holding AB (publ), Reg. No. 559031-0685 (the “Company”), today announces that a wholly-owned subsidiary (together with the Company, the “Qred Group”) has disposed of senior secured bonds 2019/2022 with ISIN SE0012507267 issued by the Company in June 2019 (the “Bonds”) to a total nominal amount of EUR 3,000,000, in accordance with the terms and conditions of the Bonds. Following the disposal, the Qred Group’s own holding of Bonds amounts to a total nominal amount of EUR 18,200,000. Disclosure regulation This information is information that Qred Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 17:00 CET on 23 March 2021.
Qred Holding AB (publ) instigates a written procedure to permit delisting of its senior secured bonds 2019/2022 from trading on regulated exchanges and multilateral trading facilities22.3.2021 10:00:00 CET | Press release
Qred Holding AB (publ), Reg. No. 559031-0685 (the “Company”), has instructed Nordic Trustee & Agency AB (publ) (the “Agent”) to instigate a written procedure (the “Written Procedure”) in respect of the senior secured bonds 2019/2022 with ISIN SE0012507267 (the “Bonds”), seeking approval from holders of the Bonds to amend the terms and conditions to permit delisting the Bonds from trading on regulated exchanges and multilateral trading facilities. This measure is taken in light of regulatory guidance recently issued by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) regarding bond financing, as further explained in the Notice of Written Procedure. If the proposed amendment is approved, the Company will provide a consent fee to bondholders, as further described in the Notice of Written Procedure. Please refer to the Notice of Written Procedure for full details regarding majority and quorum requirements, the consent fee and important dates for the Written Procedure. T
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.
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