This startup provides automated credit assessment and data processing technology tailored for small businesses in the Nordics and the Netherlands, facilitating access to various loan options. By combining these technologies with personalized customer service, the company enables clients to secure financing for growth and operational needs efficiently.
Funding
$22.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small businesses in the Nordics and the Netherlands often face challenges in accessing financing due to lengthy processes and strict requirements from traditional banks. This can hinder their ability to invest in growth and manage operational needs effectively.
Solution
Qred Bank provides streamlined financing solutions tailored for small and medium-sized businesses (SMBs), offering both business loans and a business credit card. Their business loans range from 50,000 kr to 5,000,000 kr with flexible repayment terms up to 36 months and no binding period. The Qred VISA card offers 1% cashback on all purchases, digital receipt management, and integration with Apple Pay and Google Pay. Qred also offers personal savings accounts with fixed or variable interest rates, all protected by a deposit guarantee.
Target Audience
Qred Bank primarily targets small and medium-sized business owners in the Nordics and the Netherlands seeking accessible and flexible financing options, as well as individuals looking for secure savings accounts with competitive interest rates.
Features
- Business loans from 50,000 kr to 5,000,000 kr with repayment terms from 1 to 36 months
- No binding time on business loans, allowing early repayment without extra cost
- Fast application process with decisions within 24 hours
- Qred VISA business credit card with 1% cashback on all purchases
- Digital receipt management via the Qred mobile app
- Integration with Apple Pay and Google Pay for contactless payments
- Personal savings accounts with both fixed and variable interest rate options
- Deposit guarantee on savings accounts
- Secure identification and signing using BankID
- Fast and secure transfers via Trustly