“Can a deposit-funded Nordic SMB bank scale embedded lending across Europe by combining its own balance sheet with a distribution-rich embedded lending platform?”
Founded 2015 as a Nordic digital SMB lender, Qred secured a full Swedish banking licence and expanded into a deposit-funded cross-border bank serving 80,000+ businesses across Sweden, Finland, Denmark, Norway, the Netherlands, Belgium and Germany. In 2026 Nordic Capital agreed to merge Qred with London-based embedded lending platform Liberis, pairing Qred's bank balance sheet with Liberis's 30+ embedded distribution partners across Europe, UK and North America.
Qred Bank discloses Qred Bank AB (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Qred Bank does not disclose a bank charter of its own; its banking services are provided through Qred Bank AB (in-house).
Qred Bank's lending and capital products are provided by Qred Bank AB (in-house) and Liberis.
The Embedded Finance Index 2026 maps 2 layers in Qred Bank's stack: Banking / BaaS (Qred Bank AB (in-house)); Lending (Qred Bank AB (in-house), Liberis, Qred SMB loans, Qred Embedded (embedded financing API) and 1 other).
Qred Bank was founded by Emil Sunvisson and is founded in 2015, headquartered in Stockholm, Sweden.
Get a read on where your own stack stands against Qred Bank 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.