Key Takeaways
- • Liberis and Qred have completed their merger after approval from Finansinspektionen, the Swedish financial supervisory authority, creating a combined global financial platform for small businesses (announced via Business Wire, London and Stockholm, 2026).
- • The combined group supports more than 60,000 small businesses across 17 countries and has access to about 11.5 million potential merchants, distributed through more than 30 partners including Deliveroo, Vagaro and Nexi.
- • Qred contributes its regulated, deposit-funded bank with direct small-business relationships, while Liberis contributes embedded finance technology and partner-led distribution, offering two routes to small-business financing.
- • Emil Sunvisson, Qred's founder and CEO, becomes CEO of the combined group, with Rob Fairfield, Liberis's CEO, as deputy CEO; both brands will continue operating separately for now.
Summary
Liberis, a global embedded finance platform, and Qred, one of Europe's leading digital banks for small businesses, announced that their merger, first revealed in June 2026, has been completed following approval from Finansinspektionen. The combination pairs Qred's regulated banking operations and direct customer relationships with Liberis's embedded finance technology and distribution through more than 30 partners. The group supports more than 60,000 small businesses in 17 countries and has access to roughly 11.5 million potential merchants. According to the companies, the two businesses together offer small firms two financing pathways: through a regulated bank and through the platforms they already use. The group aims over time to broaden its range of financial services for small businesses and their partners.
Emil Sunvisson, founder and CEO of Qred, will serve as group CEO of the merged business, and Rob Fairfield, CEO of Liberis, will become deputy CEO. Both businesses will continue to operate under their existing brands for the time being, and existing partner integrations, products and customer relationships will continue unchanged. Further details on product development and long-term brand plans will be shared once they are finalised.
The companies cite a financing gap for small businesses estimated at several trillion dollars, as traditional banks continue to retreat from the smallest firms. Small businesses account for about 90 percent of the world's companies and more than two-thirds of global employment. Liberis's impact report from December 2025, based on a survey of more than 1,700 financed merchants in the UK and US, found that 76 percent had been turned down by traditional lenders at least once before approaching Liberis, and 42 percent said Liberis financing had helped them create or retain at least one job.
Sunvisson said the group does not aim to challenge banks directly but to change how small businesses are financed, pointing to backward-looking credit scores and paperwork that can take weeks as shortcomings. Qred, founded in 2015, operates with full banking license from Finansinspektionen in Sweden, Finland, Denmark, Norway, the Netherlands, Belgium and Germany, and has served more than 80,000 businesses. Nordic Capital Advisors partner Emil Anderson said the merger creates a category leader in small-business fintech, and that Nordic Capital is supporting the combined team as it scales technology and expands into new markets. Nordic Capital manages about EUR 34 billion in assets.
Emil Sunvisson, founder and CEO of Qred, will serve as group CEO of the merged business, and Rob Fairfield, CEO of Liberis, will become deputy CEO. Both businesses will continue to operate under their existing brands for the time being, and existing partner integrations, products and customer relationships will continue unchanged. Further details on product development and long-term brand plans will be shared once they are finalised.
The companies cite a financing gap for small businesses estimated at several trillion dollars, as traditional banks continue to retreat from the smallest firms. Small businesses account for about 90 percent of the world's companies and more than two-thirds of global employment. Liberis's impact report from December 2025, based on a survey of more than 1,700 financed merchants in the UK and US, found that 76 percent had been turned down by traditional lenders at least once before approaching Liberis, and 42 percent said Liberis financing had helped them create or retain at least one job.
Sunvisson said the group does not aim to challenge banks directly but to change how small businesses are financed, pointing to backward-looking credit scores and paperwork that can take weeks as shortcomings. Qred, founded in 2015, operates with full banking license from Finansinspektionen in Sweden, Finland, Denmark, Norway, the Netherlands, Belgium and Germany, and has served more than 80,000 businesses. Nordic Capital Advisors partner Emil Anderson said the merger creates a category leader in small-business fintech, and that Nordic Capital is supporting the combined team as it scales technology and expands into new markets. Nordic Capital manages about EUR 34 billion in assets.
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