Qred, one of Europe’s fastest-growing fintechs in 2020 according to the Financial Times, has chosen Enfuce, one of Europe’s leading fintechs, as its card processor. „Through the partnership with Enfuce, Qred is looking to launch the Qred Card – a fast, free and secure B2B credit card designed for businesses, no matter how small,” according to the press release.
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Historically, it has been difficult for small businesses to get approved for a credit card, which is why the Qred Card was born. Every business, no matter the size, can apply for the Qred Card, providing a convenient and flexible financing through instant access to credit.
The Qred Card can be used for business purchases both online and offline, and with the Qred app users can monitor their card spending, set spending limits and block the card.
“Developing the infrastructure behind the Qred card together with Enfuce has been very interesting and rewarding. Thanks to the collaboration, we can now launch a card that is safe, scalable to all our markets and most importantly developed specifically for small businesses.” – Thomas Jansson, Chief Growth Officer and Co-founder at Qred.
“It has been a fascinating journey to be part of designing Qred’s card offering with Thomas and the team. I am so happy to see that they truly are challenging existing issuers by going with a digital-first customer experience.” – Denise Johansson, CCO and Co-founder at Enfuce.
Founded in 2015, Qred is a fintech company specialised in business financing licensed by the S-FSA, operating in six markets. Qred has a growth rate of 7,200% and has created over 5,000 jobs, creating ten jobs a day.
Thanks to Enfuce’s secure, scalable approach, state-of-the-art technology and payment processing capabilities, Qred is able to launch its card product to new markets quickly – first in Sweden this fall and then broader in Europe.
Enfuce handles Qred’s card processing, fraud monitoring and dispute management, and also delivers Qred with virtual cards, view sensitive cardholder data APIs, PIN selection APIs and wallet APIs for Apple and Google Pay.
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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.
During the second quarter of 2021, the number of monthly active users (companies that actively used Qred for a loan and / or factoring) amounted to 11,545, which means a growth of +44%.
Qred recently announced that it has become a principal member of Visa, joining a short list of fintechs able to issue their own credit cards.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
