Swedish Fintech Krea Makes SME Loans Accessible with Klarna Kosma

Klarna Kosma, Klarna‘s financial technology platform for banks, Fintechs, and innovative retailers, 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 lenders who return their best loan offers based on the data provided in the application.”

Using Klarna Kosma SMEs can quickly and securely “provide transaction-level data directly from their business bank account to the Krea platform.”

This detailed data on the day-to-day operations of the business “provides lenders with the confidence to offer larger loans at lower interest rates.”

SMEs who “provide their bank account data via Klarna Kosma are offered on average 15% larger loans at a 4% lower interest rate.” This has “contributed to Krea facilitating more small business loan approvals, with more than 20,000 loan offers being submitted to SMEs this year.”

Wilko Klaassen, VP for Open Banking at Klarna Kosma said:

“This is a fantastic example of open banking delivering real benefits to small and medium-sized businesses, which are the driving force of growth in many economies. By facilitating greater access to high quality data, Klarna Kosma enables innovative fintechs to provide access to more funding on better terms.”

Carsten Leth, Chief Commercial Officer at Krea said:

“Following the Covid pandemic, it has become even more important for lenders to assess companies based on their most recent cash flows. Kosma’s Open Banking solution enables us to help more small businesses get access to finance at better rates.”

Klarna Kosma, which is Klarna‘s financial technology platform for banking institutions, Fintech firms, and retailers, announced (in July 2022) its working relationship with Airbank, a digital financial management platform for companies.

Klarna Kosma’s Open Banking platform offers Airbank with access to the largest international network of banks, considerably accelerating the Berlin-headquartered Fintech firm’s ongoing expansion into European markets and other jurisdictions.

Airbank enables companies to effectively manage their finances by consolidating all their bank accounts in a single location. SMEs and startups reportedly use Airbank to monitor their business accounts in real-time, automate their bill management and complete payments via the portal. This way, Airbank assists firms with keeping track of their financial transactions, forecast their liquidity and finalize payment processes.

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