Qred, one of Europe’s fastest-growing fintechs in 2020 according to the Financial Times, has chosen Enfuce, one of Europe’s leading 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.

Historically, it has been difficult for small businesses to get approved for a credit card, which is why the Qred Card was born. Every business, no matter the size, can apply for the Qred Card, providing convenient and flexible financing through instant access to credit.

The Qred Card can be used for business purchases both online and offline and with the Qred app users can monitor their card spending, set spending limits, and block the card. 

Thomas Jansson
Thomas Jansson Chief Growth Officer & Co-founder Qred
“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
Denise Johansson Co-Founder and Co-CEO Enfuce
“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.”

Founded in 2015, Qred is a fintech company specialized 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.

“Qred’s growth since its founding has been amazing to follow as a fellow fintech entrepreneur.  I am thrilled that our roads crossed and that we now are a part of helping them scale their business even more rapidly than before”, Johansson elaborates

Thanks to Enfuce’s secure, scalable approach, state-of-the-art technology, and payment processing capabilities, Qred is able to launch its card product to new markets quickly – first in Sweden this fall and then broader in Europe.

Enfuce handles Qred’s card processing, fraud monitoring, and dispute management, and also delivers Qred with virtual cards, view sensitive cardholder data APIs, PIN selection APIs, and wallet APIs for Apple and Google Pay.

Enfuce’s business runs on Way4 cloud-based payment processing software

Enfuce, a Finnish payment service provider founded in 2016, offers payment, open banking and sustainability services to banks, fintechs, financial operators, and merchants around the world. One of the reasons behind their rapid growth from startup to global provider of cloud-based payment services, is successful partnerships like with Amazon Web Services (AWS) and OpenWay, a global vendor of digital payment solutions.

By running OpenWay’s Way4 payments software platform in the cloud, they provide their clients with a broad range of integrated card schemes and practically every card product available on the market, whether they are pre-paid, debit, credit, or instalments. 

In 2019 Enfuce and OpenWay jointly won a PayTech Award as the “Best Payments Solution for Payment Systems in the Cloud”.