Qliro provides financial services to merchants and consumers. By taking advantage of the transactions generated in e-commerce, Qliro can cost-effectively expand its offering of financial services.
E-merchants are offered a comprehensive check-out solution with the most popular forms of payments such as invoice, partial payment, card and direct bank payments in the Nordics. Consumers are offered several services to simplify their everyday lives, primarily paying safely at their desired pace but also saving and borrowing.
The business area consists of the subsidiary Qliro AB, which is a credit market company under the supervision of the Swedish Financial Supervisory Authority (FI), which implies a comprehensive regulatory framework for services, lending and financing.
Qliro was launched to simplify payments online in 2014. In 2015 the roll-out of the payment solution continued in Sweden and was also introduced in Finland and Denmark. The service is currently used throughout the Nordic region by e-merchants like CDON.COM, Nelly, NLY Man, Gymgrossisten, Lekmer, Tretti, Members, Skånska Byggvaror, Bangerhead and Designtorget. Qliro Financial Services is constantly expanding its offer to both e-merchants and consumers.
The business model is based on offering a payment solution to merchants and benefiting from their e-commerce transactions. Some of these lead to installment payments and partial payments, which builds up a loan book that generates interest income. Since its inception, the company has handled 11.4 million transactions and lent SEK 10 billion.
The loan book’s development and composition are the main drivers of revenues and profit. Credit through installment payments and partial payments generate revenue for up to three years. These revenues are shared with the e-merchants. In addition, personal loans with longer maturities and savings accounts are offered to consumers.
Qliro conducts data-driven credit testing based on reliable information to lend money to consumers with good potential to repay. The market for payment services for digital commerce is growing in pace with e-commerce. The market for personal loans is significant but has lower growth.
Qliro Financial Services’ target is to reach an operating profit before depreciation, amortization and impairment of SEK 100 – 125 million in 2019.
Qliro Financial Services continues to develop products to broaden and strengthen its offer to merchants and consumers.
CEO of Qliro Financial Services Carolina Brandtman
Business Financial services
Geography Sverige, Danmark, Finland and Norway