Qred and Liberis

Qred and Liberis together form an international financial platform serving small businesses through direct banking and embedded finance across the EU, UK and North America.

Company background

• Qred is a European small business digital bank with an expanding suite of financial products and direct customer relationships.
• Liberis is a global embedded finance provider, enabling software companies, marketplaces, payment providers and other platforms to offer financing directly within the services their small business customers already use.
• Together, Qred and Liberis serve more than 60,000 small businesses across 17 countries, with access to approximately 11.5 million addressable merchants. The businesses continue to operate under their existing brands, products and partner relationships.

Vision & outlook

• Build on Qred’s regulated banking capability and deposit-funded model to support continued international expansion and a more scalable financial platform for small businesses.
• Grow Liberis’s embedded finance offering through existing partners and integrations, adding new products and markets.

Highlights & updates

• Nordic Capital first invested in Qred through Nordic Capital Evolution in 2021. Since then, Qred has developed from a Nordic digital lender into a broader European banking platform, securing a full banking licence in 2023, expanding across seven European markets and broadening its offering beyond lending into credit cards and savings products.
• In 2026, Nordic Capital acquired Liberis and further invested in Qred, bringing the two businesses together. The merger was completed in November 2026 following regulatory approval from the Swedish Financial Supervisory Authority.