Nordic Capital to Acquire Liberis, Creating a Market-Leading Global SMB Financing Platform with Qred

Blenheim Chalcot today announces that Nordic Capital has agreed to acquire Liberis, the leading embedded finance platform for small and medium-sized businesses (SMBs). Following completion of the transaction, Liberis will combine with Qred, one of Europe's leading digital SMB banks, to create a market-leading global platform for SMB financing.

Liberis has been part of the Blenheim Chalcot portfolio for more than 15 years. Originally acquired as Merchant Cash Advances in 2011, the business has grown from an early-stage venture operating in a nascent category into a leading global embedded finance platform serving SMBs through partner ecosystems.

Today, Liberis supports more than 53,000 active SMBs across 17 markets and works with over 30 partners globally, helping businesses access fast, flexible and responsible funding through embedded finance solutions.

The transaction marks the next stage of Liberis' growth journey. The combination of Liberis' embedded finance capabilities with Qred's banking licence, deposit-funded balance sheet and broader product suite is expected to create a stronger platform serving SMBs across multiple markets. Qred operates across several European countries and has established itself as one of Europe's fastest-growing fintech businesses focused on small business financing.

Liberis has been a cornerstone of the Blenheim Chalcot portfolio and an example of the venture builder model in practice: identifying a market opportunity, supporting a business through its early stages and helping it scale into a category leader.

Blenheim Chalcot would like to thank the Liberis leadership team, employees, partners and customers who have contributed to the company's growth and success over the past decade and a half.

The transaction is subject to customary regulatory approvals and closing conditions.