New milestone - Krea doubled its revenue in 2022

Krea, Sweden's financing service for small and medium-sized enterprises continues to reach new heights. During 2022, the company made several strategic investments and achieved new milestones. It has now been confirmed that Krea increased its revenue by more than 100% compared to 2021 and also reached profitability in the second half of 2022.

2022 was a positive and eventful year for Krea. The company more than doubled its facilitated financing volume compared to 2021 and reached the milestone of 1 billion SEK in total facilitated financing volume. Krea is expanding internationally and in 2022 launched its platform in Finland under the name Kredita. Meanwhile the Swedish team nearly doubled over a 12-month period.

Krea has developed new technology and expanded its service offering. Today, the platform provides several different financing solutions, including business loans, invoice financing, revolving credit facilities, as well as commercial real estate loans and business leasing. In this way, Krea's platform has evolved into a comprehensive financing service.

The doubling of revenue is the result of Krea's strategic initiatives and a clear sign that the company's growth journey continues in a positive direction. In total, Krea's revenue for 2022 amounted to more than 20 million SEK.

Quote from Carsten Leth, CCO at Krea: "The fact that we significantly increased our revenue in 2022 is proof of the substantial value we provide to small businesses when they are in need of external capital. The business financing market can feel like a jungle to many. More entrepreneurs are now realizing that we are the natural guide to the right solution for their particular situation".

Primary reason - larger financing amounts

A primary cause behind the increase in revenue is that Krea is facilitating larger financing amounts. Krea collaborates with lenders in the market that are increasingly competing with traditional financial institutions. As a result, Krea is helping a growing number of larger clients that are seeking financing for higher amounts.

To meet the needs of larger clients, Krea has launched its Advisory service. For more substantial financing requirements, Krea helps prepare all necessary documentation, from business plan to budget. Krea provides a dedicated advisor who manages all communication and negotiations with lenders, as well as direct advisory support to the client, without any waiting times or call queues.

During 2022, Krea facilitated financing amounts of up to 32 million SEK, including for publicly listed companies. The average disbursed amount increased by more than 60% compared to 2021.

Increased inflow - more and more recognize the benefits of Krea

Another reason behind the doubling of revenue is the increased inflow. More and more companies are turning to Krea when applying for financing. The number of applications on the platform has increased by 50% in just one year, indicating that a growing number of businesses see the advantages of using Krea's financing service.

One of the key advantages (largest network) is that Krea creates competition among more than 30 lenders to ensure that businesses receive the best possible financing terms. Companies can then choose the offer that best suits their needs based on factors such as interest rates, collateral requirements, and other terms. The number of companies selecting an offer through Krea that they are satisfied with has increased compared to previous years. Likewise, the number of loans facilitated by Krea has grown significantly year over year.

Forward focus - helping more businesses

Krea has established a strong market position in Sweden and has now also entered the Finnish market. Now the journey continues forward. In the current environment, it has become even more important to help businesses reduce their costs, which Krea does by creating competition among banks and other lenders. In addition, major banks have generally become more restrictive in terms of whom they lend to under today's conditions, creating an "access problem". With access to the largest network of lenders, Krea enables businesses to obtain financing. Krea's main focus is to ensure that even more customers can access financing on the best possible terms.

Quote from Carsten Leth, CCO at Krea: "We work hard to help more businesses in Sweden and Finland gain access to the best possible financing. The feedback we receive from our customers clearly indicates that we deliver a valuable and unique service in the market. Our main challenge now is ensuring that more entrepreneurs become aware of our free service.