Verdane, the European specialist growth buyout investment firm, today announced that it has partnered with Nordic Capital-backed Qred and will invest in the business as part of the company’s combination with Liberis, a leading embedded finance platform serving small and medium-sized businesses (SMBs).
Founded in Stockholm in 2015, Qred today operates under a full banking licence with a deposit-funded balance sheet and an expanding suite of financial products across Northern Europe. Verdane is investing alongside existing shareholder Nordic Capital and will support the next phase of growth for the combined business.
The partnership with Qred is possible thanks to the flexible mandate of Verdane’s Freya funds. Verdane’s Freya XII fund, which closed at its €2 billion hard cap last year, has also backed companies including healthcare businesses Clue and Eterno. It has also established a 50/50 ownership stake in Telenor Connexion and acquired a portfolio of stakes in other businesses from Telenor. Freya XII has also acquired the entirety of fintech-focused British investment firm Augmentum Fintech.
For more information on the transaction, read the full announcement from Qred here.
Daniel Ahlstrand, Partner at Verdane, said: “Qred and Liberis have each built strong positions by helping entrepreneurs and small businesses access financing in a simple and efficient way. Together, they bring highly complementary capabilities, strong technology platforms and a shared commitment to serving SMBs. We look forward to supporting the management team as the combined company continues its growth journey.”
The transaction is subject to customary regulatory approvals and closing conditions.
About Verdane
Verdane is a specialist growth buyout investment firm that partners with tech-enabled and sustainable businesses that help to digitalise and decarbonise the European economy. The flexible mandates of Verdane funds allow it to invest as a majority or minority control investor, replacement or growth capital, in single companies or in portfolios of companies.
Verdane has raised €10 billion in capital and its funds have made more than 200 investments in fast-growing businesses since 2003. Verdane’s team of over 180 investment professionals and operating experts is based out of Berlin, Copenhagen, London, Helsinki, Munich, Oslo and Stockholm and combines deep sector expertise with long-standing local networks and presence in core European markets.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
