← Embedded Finance Index 2026

Qred

“Can a fast-turnaround SMB lender become the primary financial services partner for small businesses across the Nordics and Europe?”

Founded2015
HQStockholm, Sweden
IndustryFintech / SMB banking

The story

Founded in 2015 as a fast-turnaround SMB lender in Sweden, Qred expanded into banking services after being licensed as a Payment Institution in 2020. The company broadened its product suite from pure lending (business loans, liquidity loans, order financing, bridge loans) to a full SMB financial platform including a Visa-branded business card with cashback, leveraging Enfuce for card issuing. Qred operates under the brand 'Qeld' in the Netherlands, reflecting broader Nordic and European expansion.

Last 12 months

—

Product timeline

2015

Qred founded by entrepreneurs to provide fast business loans to small businesses.· lending

2020

Qred Bank AB authorised as a Payment Institution by Finansinspektionen, enabling account information and payment initiation services.· banking

2021

Qred partnered with Enfuce to issue Qred VISA debit/credit card for small businesses with 1% cashback.· card

Regulated entities

regulatory licence held by Qred

Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.

Same company

Qred was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.

Qred Bank2 layers →

The stack

2 layers disclosed in Qred’s embedded-finance stack

Card issuing

Enfuce

Lending

in the full report

Accounting gap: significant

5 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.

Qred — frequently asked

Who issues Qred's cards?

Qred's cards are issued through Enfuce.

What is Qred's embedded finance stack?

The Embedded Finance Index 2026 maps 2 layers in Qred's stack: Card issuing (Enfuce); Lending (Business loans, Liquidity loans (up to SEK 5 million), Order financing / inventory financing, Bridge loans and 1 other).

Where is Qred headquartered?

Qred is founded in 2015 and headquartered in Stockholm, Sweden.

Benchmark your own stack

Request an embedded finance strategy assessment

Get a read on where your own stack stands against Qred and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.

Your category, mappedHow your stack compares to Qred and the other companies in its category.
Build vs. buyWhere a provider relationship would close a gap faster than building it.
A named analyst, not a form replyA short call to scope what's actually worth assessing for you.