Qred Holding AB (publ) eng

Qred Takes on Factoring - Establishes New Office in Southern Sweden

Share

Fintech startup Qred continues to expand in financial services to small business owners. A new factoring branch is now being established that is offering invoice purchasing services. Based in central Malmö, Sweden, Qred's factoring service is aimed at contractors throughout the country, who wish to avoid extended waiting periods for being remunerated for services rendered.

Emil Sunvisson,CEO
Emil Sunvisson,CEO

Qred has established itself as the market leader in online micro-enterprise and small business loans in the Nordics. Now it is time to disrupt the factoring industry with its technology and business model, via the introduction of automated digital processes, in what has traditionally been a face-to-face, handshake business. 

"The process needs to be simple, fast and transparent," says Daniel Lindh, who is responsible for operations in Malmö. “We work according to the same principles as when Qred offers corporate loans.”

Liquidity problems due to long invoicing processes can restrict contractors from taking on new projects. 

"It's tough for some SMEs, for example in construction, to wait several months to get paid for the job," says Emil Sunvisson, CEO of Qred. “This is money that needs to be put into business quickly and cover material or personnel costs. Here, Qred factoring can help out.” 

“We reach out to SMEs and get to know the business through individual meetings. When a client’s invoice is registered in our systems, an automated procedure takes place,” says Daniel Lindh. 

Come January, the Malmö office will have recruited a line up of specialists with years of experience in the factoring industry. Their combined expertise will ensure a smooth and simple process for all parties involved.

About factoring 

Factoring is a practice that encompasses invoice purchase and invoice loan services. In the case of invoice purchases, the issuing company sells its invoices to the factoring company and gets paid directly. Once the invoice is sold, issuers do not have to worry about when their invoice gets paid, and can move on to other engagements. When it comes to invoice financing/loans, the company hands over an issued invoice to the factoring company and can borrow parts of the sum for a fee, using the invoice as collateral.  

Keywords

Contacts

Images

Emil Sunvisson,CEO
Emil Sunvisson,CEO
Download
Daniel Lindh, responsible for operations in Malmö
Daniel Lindh, responsible for operations in Malmö
Download

About Qred Holding AB (publ) eng

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



Founded in 2015 by entrepreneurs for entrepreneurs, Qred is now Sweden’s fastest growing fintech company according to Financial Times. Qred is the market leader in the Nordic region and has Sweden’s most satisfied customers according to Trustpilot. With operations in Sweden, Finland, Denmark, the Netherlands, Brazil and Belgium - Qred has helped more than 25,000 companies  Qred’s fully automated, proprietary credit scoring system allows us to quickly and competitively provide business owners with the power they need to grow. Right now, Qred is creating ten jobs a day, 7 days a week. 

To read more about Qred, please visit: https://www.qred.com/en-se/about

Subscribe to releases from Qred Holding AB (publ) eng

Subscribe to all the latest releases from Qred Holding AB (publ) eng by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Qred Holding AB (publ) eng

Qred Holding AB (publ) successfully places EUR 40 million of senior secured floating rate bonds and announces intention to redeem its outstanding senior secured callable floating rate bonds13.4.2022 11:00:00 CEST | Press release

Qred Holding AB (publ), Reg. No. 559031-0685 (the "Company"), has successfully placed EUR 40 million of senior secured floating rate bonds under a framework of EUR 60 million to qualified investors in the Nordics and Europe (the “New Bonds”). The New Bonds will have a tenor of 3 years and the proceeds from the transaction will be used to redeem the Company’s outstanding bonds with ISIN SE0012507267 (the “Existing Bonds”), to fund general corporate purposes, including the provision of new loans, and to finance transaction-related costs. Pareto Securities AB acted as sole bookrunner on the transaction and the settlement of the New Bonds will take place on 22 April 2022. In addition, the Company has today exercised its option to redeem the Existing Bonds early. Redemption of the Existing Bonds will occur on 11 May 2022 (the “Redemption Date”). The Issuer will redeem the Existing Bonds at an amount per Bond equal to 100 per cent. of the Nominal Amount (as well as accrued but unpaid interes

Qred increased operating income with 44%28.2.2022 09:00:00 CET | Press release

Stockholm, February 28, 2022 - Qred continues to grow with profitability. Operating income during the interim period increased by 44% and operating profit amounted to SEK 10.7 million. During the quarter, Qred carried out a directed new share issue to the Nordic Capital Evolution Fund, which enables continued expansion and development of new smart services and products that simplify life for small businesses owners. After the new share issue, the company's equity / assets ratio is 45.5%. In early 2022, Qred started operations aimed at Norwegian small businesses, making Qred the first fintech company in financing and payment to small businesses with coverage throughout the Nordic region, in addition to the Netherlands and Belgium. Values ​​for the same period last year are stated within brackets. October - December 2021 The number of active users increased by 44% to 13,483 (9,498) Operating income increased by 44% to SEK 105.7 m (73.6) Commission income increased by 85% to SEK 66.3 m (3

Qred Holding AB (publ) initiates fixed income investor meetings to evaluate bond refinancing and provides financial update17.2.2022 08:00:00 CET | Press release

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN. THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES, EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. NO PUBLIC OFFERING WILL BE MADE IN THE UNITED STATES AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN. Stockholm, 17 February 2022 - Qred Holding AB (publ), Reg. No. 559031-0685 (the "Company"), has mandated Pareto Securities AB as sole bookrunner to arrange a series of fixed income investor meetings commencing on Monday, February 21, 2022, and subject to, inter alia, market conditions, a senior secured bond issue in an amount of EUR 40-50 million may follow (the “New Bonds” or the “Bond Issue”). The proceeds from the New Bonds will be applied tow