Creades and Ingka invest 110 million in Kreditz

The deal will take place in three parts, as the first part is done now, and the second is conditional on the approval of the Financial Supervisory Authority on Creades as an owner of more than 10 percent in the company as the company is subject to the supervision of the Financial Supervisory Authority. Authority, and the latter will happen if certain goals are reached by the company in 2023, Ikea investment subsidiary Ingka Investments will invest in the company with the same amount and terms. This was stated in a press release.

Kreditz was established in 2018 and has FSA authorization for account information services.

The company’s products are based on Open Banking & PSD2 technology. Among other things, Kreditz helps banks and financial institutions analyze bank transaction data by automatically retrieving and analyzing information. This provides a good overview of potential clients’ finances, reduces credit and money laundering risks, and helps meet customer due diligence requirements.

The company is growing rapidly and today has more than 80 customers, in addition to the Nordic countries also in the Netherlands, Great Britain, Germany, Poland and Austria, and with the help of the new capital it will continue to establish itself in more markets in the coming years.

Previous investors include Salenia AB, Segulah Venture AB and Anna Storåkers, who is also the company’s chairman.

– As an early investor in Tink, which is building the PSD2 infrastructure itself, we clearly see how Kreditz takes and delivers significant added value on top of that in the form of end products and solutions that help banks and financial institutions streamline their processes and make better decisions for customers, says John Hedberg, Cread CEO, in a written comment.

Creades intends to be an active owner in Kreditz by participating on the board of directors.