Qred partnered with Enfuce to provide credit for small businesses
By Joy Dumasia
Qred has chosen Enfuce, one of Europe’s FinTechs, as its card processor. Through the partnership with Enfuce, Qred is looking to launch the Qred Card – a fast, free and secure B2B credit card designed for businesses, no matter how small.
Founded in 2015, Qred is a FinTech company specialised in business financing licensed by the S-FSA, operating in six markets. Qred has a growth rate of 7,200% and has created over 5,000 jobs, creating ten jobs a day.
The Qred Card can be used for business purchases both online and offline and with the application, users can monitor their card spending, set spending limits and block the card.
Thanks to Enfuce’s secure, scalable approach, state-of-the-art technology, and payment processing capabilities, Qred can quickly launch its card product to new markets – first in Sweden this fall and then broader in Europe.
Enfuce handles Qred’s card processing, fraud monitoring and dispute management and delivers virtual cards, view sensitive cardholder data APIs, PIN selection APIs and wallet APIs for Apple and Google Pay.
Thomas Jansson, Chief Growth Officer and Co-founder at Qred said: “Developing the infrastructure behind the Qred card together with Enfuce has been very interesting and rewarding. Thanks to the collaboration, we can now launch a card that is safe, scalable to all our markets and most importantly developed specifically for small businesses.”
Denise Johansson, CCO and Co-founder at Enfuce, said: “It has been a fascinating journey to be part of designing Qred’s card offering with Thomas and the team. I am so happy to see that they truly are challenging existing issuers by going with a digital-first customer experience.”
Recently, IBS Intelligence reported that Zevoy, a Finnish expense management FinTech, has chosen Enfuce, one of Europe’s leading FinTechs, as its payment service provider. With the partnership with Enfuce, Zevoy will expand its all-in-one expense management solution, powered by Zevoy’s all-in-one Visa business card product, to several European markets.
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