Nordic Capital’s merger of Liberis and Qred creates a unified EMBEDDED FINANCE and direct SMB lending platform spanning 17 countries, 53,000+ active business customers, roughly 11.5 million addressable merchants, and annual revenues exceeding €250 million. The deal, valued at approximately £745 million and structured with Nordic Capital XItaking a majority stake, Nordic Capital Evolution I retaining an interest, and Verdane joining as co-investor, brings together Qred’s Swedish banking license, deposit-funded balance sheet, and AI-powered credit scoring across seven markets with Liberis’s API-based embedded finance network of 30+ partners. Sellers Blenheim Chalcot, FTV Capital, and Barclays exit Liberis; Perella Weinberg advised Qred and Nordic Capital Evolution, while Bank of America advised Nordic Capital XI.

Nordic Capital To Merge Liberis And Qred To Form Unified SMB Lending Platform