Qred hits 1bn revenue - and makes the FT1000 list yet again
Stockholm, 28th of February 2025
While much of the fintech world has been busy burning billions of venture capital and celebrating yet another funding round, Qred embarked on a different trailhead altogether: By choosing the path of focusing on real customers, and solving small business needs. As we pause and collectively celebrate our 10th anniversary since our founding in March 2015, we are humbled and grateful to announce that our pace is now exceeding SEK 1 billion in annual revenue.
Reflecting for a moment on the landscape in front of us, we can’t help but notice that fintechs and their backers love to measure success in numbers (and letters “A”, “B”, “C”) of funding rounds - and the concurrent hype and media attention that surrounds them. But let’s be real for a moment: many of these companies have helped surprisingly few customers, and delivered results that wouldn’t impress an intern (we know, we’ve hired a few of them!). Qred is not, and has never been, here to take the shortcut to a frothy valuation. We believe that a solid and sustainable company should be able to hike in its own boots, and not coast to glory on the back of pitch decks and champagne toasts.
“Even though we are already 10 years in, we are still picking up speed. Reaching a billion kronor in recurring revenue is a great marker for us - to know we are powering more entrepreneurs than ever,” says Emil Sunvisson, CEO of Qred.
“With our latest product launch for small businesses, credit cards, now helping tens of thousands of customers, bolstered by our 2024 expansion into Germany, we are set to double our growth in the coming years. We continually remind ourselves inside Qred that the company exists to support the brave entrepreneurs that fuel and push our society forward. And we’re humbled and proud to yet again be recognized by the Financial Times in their top 1000 list of Europe’s fastest-growing companies.”
Qred was this year listed on Financial Times’ prestigious ranking for a fifth time, a feat not attained by any other Swedish company.
“But what I am even more proud of than hitting record revenue numbers, is the real impact we make in society. Since day one, our mission has been clear: Solve big problems for small businesses, and enable them to focus on building what they love. We create simple products that take the pain out of financing.”, says Sunvisson.
Although the vast majority of all companies are considered “small”, they do in fact create two thirds of all private jobs in Europe, provide a critical tax base for our societies, and yet receive a pittance of “High Street” retail bank lending. Today, Qred’s customers create over 10,000 new jobs annually with the help of our financing. And while the overall fintech industry may be mired in stagnation, Qred continues to pursue profitable growth, via powering the small businesses that drive our economy. We intend to double down on growth, and prove that real impact beats empty hype every time.
