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  • Carsten Leth

    Chief Commercial Officer


    Valhallavägen 60 11427 Stockholm
    0727196659
    https://krea.se/en/

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    We saw that many entrepreneurs find it difficult to choose a reasonable amount to apply for. That in turn hurts their chances of getting funding. Now that interest rates have slowly stopped rising, there are many who want to invest again. We therefore want to offer these business owners a tool to create the best applications possible.
    Carsten Leth, CCO at Krea
    We see in these statistics that the government has a clear basis for making decisions that reduce the cost burden for small businesses. A reduced employer contribution and the removal of sick pay liability for all small businesses are two concrete changes that would lead to a higher credit rating, which means fewer bankruptcies, more future investments and more job opportunities in the coming years.
    Peter Thörn, Chairman of Småföretagarnas Riksförbund
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    Applying for too large amounts can harm small businesses - Now they can estimate their credit limit through Krea's AI service

    Many small businesses find it challenging to secure financing. Data from Krea's financing service shows that only 70% of all creditworthy companies get their application approved. The biggest factor for why their applications are not getting approved is that they apply for too small or too large loan amounts. Companies that apply for too large amounts from the start receive proposals with an 18% higher interest rate on average. That's why Krea has now further developed its loan indicator that helps companies apply with a reasonable amount based on artificial intelligence (AI).According to

    Harder to get access to external credit for companies according to Krea's latest financing report

    Krea's new financing report shows that companies increasingly have problems securing external credit. In the past two years, the approval rate for creditworthy companies has dropped from 89% in Q4 2021 to 70% in Q3 2023. Although the approval rate stopped falling in Q3 2023, the future is still uncertain for Swedish entrepreneurs.The financing report for companies is made with the aim of providing a picture of the credit market for small and medium-sized companies in Sweden. The insights in the report, which are based on data from applications on Krea's platform between 2019-2023, show,

    Krea strengthens with new capital from investors such as the business angel network ExM, Tomas Billing and FBTC Invest AB

    Krea, Sweden's financing service for businesses, recently closed a financing round of 7 MSEK adding a selection of new investors to the ownership list. One of the new investors is ExM Investment Partners, a network of business angels with a background in the consulting company McKinsey & Company. With the newly raised capital, Krea continues its growth journey on the SME loan markets in Sweden and Finland.Krea continues to grow, increasing its revenue with 100% from 2021 to 2022 and now has over SEK 1.7 billion in brokered credit volume. With this capital injection, the company will

    Kredita assigns Country Manager to Finland: “I want to help entrepreneurs”

    Krea launched in Finland during the fall of 2022 with the name Kredita. Now, the company is pleased to announce the assignment of entrepreneur Anu Petäjä as its Country Manager in Finland: “I want to help entrepreneurs to make their ideas come true”In October 2022, the Kredita platform was launched in Finland. To unlock Kredita’s potential in the Finnish market, Anu Petäjä has been signed as Country Manager of Finland with effect from the 1st of March. Some of Anu’s main responsibilities will be to scale up the commercial operations, sign new partnerships and build the Kredita organization

    Krea appoints Peter Andén to its Board of Directors

    Krea is pleased to announce the appointment of Peter Andén, independent investor and former Partner at McKinsey & Company as a Chairman of the Board of Directors of Krea.2022 was an eventful year for Krea as the company increased its revenue by over 100% from 2021. In less than twelve months, Krea has doubled its team size and has recently begun its international expansion with the launch in Finland. Krea is maturing as a company and there is a desire among Krea’s main shareholders to further strengthen the board of directors.  Therefore, Krea today announced the appointment of Peter

    Krea reaches 1 billion SEK of brokered financing as more companies realise the benefits of digital credit procurement

    Krea, the financing marketplace for small- and medium sized enterprises (SMEs), has reached its milestone of SEK 1 bn in brokered financing volume. Krea’s growth rate is increasing as the brokered volume has more than doubled compared to 2021. The recent increase comes as more companies are starting to realise the benefits of solving their financing needs through digital procurement in order to achieve seamless access to credit with the best possible rates. Krea is now on course for international expansion, and has recently launched its platform into neighbouring Finland under the brand name

    Banks and other lenders are now tightening their credit assessments for SMEs

    Krea's latest SME finance approval index demonstrates an evident drop from the peak point of 85% in Q4 2021 to 70% in Q3 2022. Expressed differently, 3 out of 10 companies requesting finance through Krea are not presented with any offers for a business loan, factoring and real estate loans.Companies performing low on credit scores are seemingly the most affected, with an average approval rate of only 37.5% during the last quarter, compared to 67.5% in Q4 2021. However, although banks are more careful in their credit assessments, the overall lending situation is still comparably better than

    Swedish fintech Krea makes SME loans more accessible and affordable thanks to Klarna Kosma

    London, 25 October, 2022 - Klarna Kosma, Klarna's financial technology platform for banks, fintechs and innovative retailers, today announced that its partnership with Krea, a digital loans platform for Small and Medium-sized businesses (SMEs) in Sweden has helped Swedish SMEs receive on average 15% larger loan offers, at a 4% lower interest rate.  Krea offers SMEs a single portal where they can apply for business loans from the largest network of lenders in Sweden. SMEs enter the details of their business and loan request into the Krea platform, which shares them with over 30 banks and

    Krea has now launched Revolving Credit together with selected lenders - an effort to make flexible financing available to more companies

    The current economic landscape is volatile, to say the least, making it hard for companies to predict, and plan for changes in their ongoing operations. As the general unease on the market accelerates, increased demand for flexible financing is becoming more prominent. For this reason, Krea has now launched Revolving Credit as a flexible option for financing together with selected lenders. The launch of revolving credit will grant more companies easy access to flexible financing on the best possible terms.An unsteady market  In the turmoil of the Covid-19 pandemic, and with a strong

    Interest rates reached an all-time low on Krea's platform despite recent rate increases in capital markets

    Interest rates in the capital markets have been on the rise recently which was reinforced on the 28th of April by the Swedish central bank’s decision to increase their repo rate. However, a recent analysis of 30 000 loan offers on Krea’s financing marketplace shows that interest rates selected by customers on the marketplace have never been lower than during the first months of 2022. The positive impact of higher transparency of loan terms in small business financing markets outweigh the short-term impact from increased repo rates. The rates on Krea’s platform are also supported by a short-

    Krea’s new AI-solution helps lenders to acquire more customers and reduce underwriting costs

    Many lenders have been struggling to service small business customers efficiently. Underwriting costs are high because lenders have low visibility about what rate a customer might accept. This results in lenders spending the majority of their time on leads that do not convert or generate revenues. Krea is expanding its financing service with a new AI-solution that helps lenders to acquire more customers and reduce underwriting costs. By using Krea’s Bid Attractiveness score lenders receive instant feedback about how likely their offers are to convert. Thereby, enabling them to focus on the

    Krea is growing market share as Swedish SMEs increasingly choose to compare financing options digitally

    Krea, the financing service for small and medium sized businesses, has grown its volume by 60% in 2021, while the addressable SME lending market declined by 2% according to SCB. The company has paid out nearly 300 Msek during 2021 in financing to small and medium sized businesses through their digital financing service. This is a sign that companies in Sweden increasingly choose to compare financing options digitally.Krea is offering small to medium sized businesses access to finance through its digital financing service. The platform has been expanded from only offering business loans to

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