Qred extends its reach with 3.1 million German SMEs

Stockholm, September 25, 2024 – Qred is now extending its presence in Europe and is launching in Germany. Small businesses in Germany will now have access to Qred's fair and efficient business loans, enabling more small and medium-sized enterprises to grow and develop. 

The economic landscape in Germany is dominated by SMEs, according to deutschland.de. With 3.1 million of them, these businesses employ 55% of the 45.8 million employees in Germany. Additionally, 96.9% of German exporters are SMEs, highlighting their significant contribution to the national economy.

“Although Germany is Europe’s largest economy with countless businesses, access to financing remains a challenge for small businesses. The long and bureaucratic processes, such as in-person appointments often cause businesses to miss growth opportunities. Many small businesses face a direct rejection as traditional banks don’t have the tools to make a proper analysis of the risks. This gap between credit demand and supply is where we want to step in, offering faster processing times, with a deeper understanding of small business needs, and a commitment to supporting them” says Moritz Wendt, Country Manager for the German market at Qred. 

“We are very excited to support small businesses in Germany, as we believe that small businesses are the backbone of the economy. They deserve better service and solutions that are actually tailored for them. There are hundreds of thousands of small businesses  in Germany that will welcome our accessible, fast, and transparent financing. Our dedicated team will be there to support those German businesses in their growth journey” says Moritz Wendt.

"We are very excited to enter the German market. The size of the German market offers significant growth potential. The options for small business are very limited, and we expect that Qred will be a very welcome alternative. Germany with its millions of small businesses,  a strong economy and a robust governance, is a perfect fit for our next phase of growth” says Emil Sunvisson, CEO at Qred.

Qred intends to further expand into additional markets with the ambition of becoming the natural choice for small businesses across Europe.

About Qred

Qred is a tech enabled bank offering financing to small businesses. Qred was founded in 2015 by entrepreneurs for entrepreneurs. By using innovative technology and a high degree of automation, Qred has quickly become the market leader in Northern Europe. Qred has, as the only Swedish company, qualified for the Financial Times list of Europe's fastest-growing companies for four consecutive years and was the winner of the Nordic Scaleup Award 2024.

Qred has helped over 50,000 businesses and created over 40,000 new jobs in Sweden, Finland, Denmark, the Netherlands, Belgium, and Norway.

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