Privacy Policy

Qred Privacy Policy

Qred understands the importance of your personal integrity and privacy. The purpose of this Privacy Policy is to describe how Qred collects and stores your personal data and why Qred does it. In addition, this document describes your rights in relation to your personal data that we process, and how you can exercise them.

In order to provide our services and business loans, we need to be able to process and use personal data as described in this Privacy Policy.

"We", "our" or "us" means Qred AB (org. no. 559008-9800) and all other companies within the Qred Group - Qred Holding AB (publ) (org. no. 559031-0685) and Qred Factoring AB (org. no. 559221-0180) registered with the Swedish companies register and with our main office located at Tulegatan 15, 113 53 Stockholm. For the purposes of EU data regulation, we are the data controller in respect of the personal data we receive from you, or otherwise collect about you, and we are responsible for ensuring that we use your personal data in compliance with applicable data privacy regulation ( EU Regulation 2016/679).

By visiting our website you approve the processing of personal data described in this policy.

1 What kind of personal data do we process?

Information you provide to us. This includes personal data you provide us with as part of the credit application. It also includes personal data such as name, address, email, phone numbers and national ID-numbers. Also, information about your business, such as business plans, bank account information and payment history might be asked of you.

Information we collect about you. As part of the credit assessment process, we need to collect certain information about you and your business. We do this in order to provide you with the best possible credit offer and to comply with our legal obligations under KYC, anti-money laundering and anti-terrorist financing regulations. We also collect information from third parties such as credit rating agencies and other publicly available information sources. This information may include the following:

Information and contact information: name, date of birth, personal identity code, address, telephone number, nationality, etc.
Financial information: information collected from third parties, such as income and credit information.
Credit history: information collected from third parties, such as financial history, default entries, and prior payment and credit information.
Information about how you use our services and messages with us: how you use our services, including information about open and past debts and repayments at Qred; technical data such as page response times, download errors, personal preferences; interaction with Qred customer service, etc.
Device information: information such as IP address, language settings, browser settings, operating system, and screen resolution.
Geographical information: information about your geographic location.
Information about sanctions lists and PEP lists: we may check your data on the lists of persons subject to sanctions and politically influential persons.
Specific categories of personal data: you can, entirely voluntarily, provide us with information that can be classified as "special categories of data" under EU Regulation 2016/679. These include information that reveals your religion, political or philosophical beliefs, union memberships, or information about your health, sex life, or sexual orientation. We never request this information to provide our services. If you provided us with such information, it will be considered entirely voluntary and based on your explicit consent. If you want to know more about consent and how to withdraw it, see the consent section below.
Service-specific information: to provide some of our services, we may collect and process other personal data that does not fall into the above categories.

2 What do we do with the information?

We offer and improve our services. We process personal data to provide our services and business loans to small and medium-sized enterprises. As part of this process, we also collect personal data to improve our service. Below is an overview of how we process personal data and the legal basis for processing:

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Processed personal data	Purpose of processing	Legal basis for processing
Contact and identification information, payment information, financial information, device information and service-specific information.	Verifies the customer's identity in a remote relationship and verifies your contact information.	To fulfil our contractual obligations, either when we are entering into or have entered into an agreement with you. We must collect relevant personal data in order to fulfil our contractual obligations towards you. We also have a legal obligation to meet the customer's know-how requirements and to verify the identity of our customers.
Contact and identification information, payment information, information about products/services, financial information, information about your interactions with Qred, device data, information about sanctions lists and PEP lists, and service-specific information.	Managing the service, for example, making credit assessments and "Know your customer" (KYC).	To fulfil our contractual obligations, either when we are entering into or have entered into an agreement with you. We must collect relevant personal data in order to fulfil our contractual obligations towards you. We also have a legal obligation to meet the customer's know-how requirements and to verify the identity of our customers.
Contact and identification information, payment information, product/services information, financial information, device information, information about your interactions with Qred, and service-specific information.	For service management purposes.	To fulfil our contractual obligations, either when we are entering into or have entered into an agreement with you. We must collect relevant personal data in order to fulfil our contractual obligations towards you. We also have a legal obligation to meet the customer's know-how requirements and to verify the identity of our customers.
Contact information and identification information, payment information, information about products/services, financial information, information about interactions between you and Qred.	To prevent fraud and manage risks.	Comply with laws that require us at Qred to collect certain information about our customers. We also have a legitimate interest in preventing fraud. We ensure that processing carried out for this purpose is necessary to fulfil a legitimate interest and that our interest outweighs your interest in not processing your personal data for this purpose.
Contact and identification information, payment information, information about products/services, financial information, information about your interactions with Qred, device data, information about sanctions lists and PEP lists, and service-specific information.	Compliance with laws such as money laundering legislation and accounting laws.	Comply with laws that require us at Qred to collect certain information about our customers.
Contact and identification information, payment information, information about products/services, financial information, information about your interactions with Qred.	To improve our services, for example by improving credit modules and minimizing fraud risks.	Qred has a legitimate interest in managing internal risks, in particular those related to fraud. We ensure that processing carried out for this purpose is necessary to fulfil a legitimate interest and that our interest outweighs your interest in not processing your personal data for this purpose.
Contact and identification information, payment information, information about products/services, financial information, information about your interactions with Qred, device data, information about sanctions lists and PEP lists, and service-specific information.	For internal purposes, such as data analysis, testing and statistics.	Qred has a legitimate interest in managing data analytics, testing and statistics. We ensure that processing carried out for this purpose is necessary to fulfil a legitimate interest and that the benefit is greater than your interest in not processing your personal data for this purpose.
Contact and identification information, payment information, product/services information, financial information, information about interactions between you and Qred, information about how you operate on Qred's platform – device information.	To provide you with marketing and personal offers related to our services. Feel free to cancel your subscription at any time by contacting us. See Qred's contact information below.	Qred has a legitimate interest in providing service-related marketing and personal offers. We ensure that processing carried out for this purpose is necessary to fulfil a legitimate interest and that the benefit is greater than your interest in not processing your personal data for this purpose.
Contact and identification information, payment information, information about products/services, financial information, information about your interactions with Qred, device data, information about sanctions lists and PEP lists, and service-specific information.	Analyze data for product development and product testing (i.e. product development). Improves our risk and credit modules)	Qred has a legitimate interest in utilizing data analytics in product development and testing. We ensure that processing carried out for this purpose is necessary to fulfil a legitimate interest and that the benefit is greater than your interest in not processing your personal data for this purpose.

Recorded phone conversations.	To improve services, training and quality assurance, and to document what has been discussed and decided between you and Qred's customer service.	Qred has a legitimate interest in improving services by assessing the quality of services and compiling what has been discussed and decided between you and Qred's customer service. We ensure that processing carried out for this purpose is necessary to fulfil a legitimate interest and that the benefit is greater than your interest in not processing your personal data for this purpose. As a payment institution, Qred has a legal obligation to collect and document the personal data needed for its business.
Contact and identification information, payment information, information about products/services, financial information, information about your interactions with Qred.	To carry out a creditworthiness assessment before accepting a credit application.	To fulfil your contractual obligations when we enter into an agreement with you. We need to collect relevant information to fulfil our contractual obligations.
Contact identification information, payment data history, information about preferences for products/services, information about interactions between you and Qred.	To improve business; conduct customer satisfaction surveys related to our services by email, SMS, phone or other means.	Qred has a legitimate interest in improving our services by assessing the quality of services. We ensure that processing carried out for this purpose is necessary to fulfil a legitimate interest and that the benefit is greater than your interest in not processing your personal data for this purpose.
Contact and identity information, financial information (if available) and information on how you interact with Qred.	To find out what is the best way to communicate with you and contact you about unpaid debts.	Qred has a legitimate interest in being able to contact you effectively. We ensure that processing carried out for this purpose is necessary to fulfil a legitimate interest and that the benefit is greater than your interest in not processing your personal data for this purpose.
Contact and identification information, information about products/services, information on how you interact with Qred, device information and service-specific information.	To determine what kind of marketing we target you. Data processing will stop if you request it. This may involve profiling (see below for more information).	Qred has a legitimate interest in deciding what kind of marketing to offer you. We ensure that the processing of data for this purpose is necessary to fulfil a legitimate interest and that the benefits outweigh your interest in not processing your personal data for this purpose.
Contact and identification information, payment information, information about products/services, financial information, information about your interactions with Qred, device data, information about sanctions lists and PEP lists, and service-specific information.	To protect Qred from legal claims and enforce Qredi's legal rights.	To obey the laws. Qred has a legitimate interest in protecting itself from legal claims and controlling its legal rights. We ensure that processing carried out for this purpose is necessary to fulfil a legitimate interest and that the benefit is greater than your interest in not processing your personal data for this purpose.

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3 Qred Credit Services

The following services are accompanied by credit from Qred :

Qred corporate loans
Qred Factoring - invoice financing (purchase of invoices)

Your personal data will be shared with credit rating companies and other suppliers to verify your creditworthiness when applying for a corporate loan (Qred loan) or Qred's invoice finance service.

In order to provide our services, we will provide you with a credit rating (creditworthiness assessment). The credit rating is based on contact and identification, information about your interactions with Qred and other financial information. Financial information includes information from credit companies.

The credit rating is based on contacts, credentials and information about your interactions with Qred. This includes the way you communicate with us, but also the financial information you provide to us, such as transaction registers, bank statements, and external information from credit information companies.

4 Marketing and communication

We can use your contact information to communicate with you. This may mean either submitting customer inquiries or offers for our products/services based on the customer relationship. If you decide that you do not wish to receive such communication/information, you can contact us at any time at privacy@qred.com.

In order to offer you tailor-made promotions, discounts, etc. we review information about interactions between you and Qred, your contact and identification information, and information about products/services and the use of these services. This processing may be profiling (see section 6 for more information). The data is the basis for Qred's marketing and customer analyses as well as for the development of statistical information. We adapt offers where we use contact and credentials, payment method information and information about your interactions with Qred to improve our services and offers. We may use the information to send personal offers by post, email, SMS or other digital channels.

You can unsubscri well to subscribe to customized personal offers either by clicking on the link in digital communications or by contacting us directly (see contact details below).

5 Consent

In cases where Qred processes your personal data on the basis of your consent or explicit consent (for example, when you give us a power of attorney to access your data from a third party or provide us with additional information about sensitive data). You can withdraw this consent at any time by contacting us. Withdrawal of consent does not lead to a reduction in our service as we do not need this information to provide our services.

6 Profiling and automated decision-making

"Profiling" means automated processing of personal data to assess certain personal aspects of you, such as the financial situation or preferences, such as purchasing needs, or to predict. We use profiling based on your personal data to make individual or automated decisions for the following purposes:

To predict which marketing content interests you. You can always object to this and remove registration from marketing and profiling by contacting us. For more information on the processing of personal data for marketing purposes, see section 4 above;
To decide on suitable offers for you;
To decide on the most appropriate way to contact you about unpaid debts.

In addition, we use profiling in some of our services to provide you with a suitable service, for example by providing you with relevant financial information or to choose what offers to make to you, in accordance with the terms of that service.

Decisions having legal or equally significant effects

Automated decision-making with legal effects, or automated decisions with equally significant impacts, means decisions in our services based solely on automated means in which none of our employees interact and who significantly affect you as their consumer. By automating such decisions, Qred increases objectivity and transparency in decisions when providing these services.

We use such automated decision-making when:

we decide to accept your application to use the credit service;

we decide not to accept your application to use the credit service;

To decide whether you are at risk of fraud or money laundering, if our processing reveals that you are showing behavior that can be associated with money laundering or fraudulent behavior, your behavior is inconsistent with your past use of our services, or that you are appropriately hiding your own identity. In the relevant cases, Qred will also check if a particular customer is listed on the so-called sanctions list.

You always have the right to challenge an automated decision that has a legal or similarly significant impact (together with related profiling) by contacting us via email address privacy@qred.com. Qred's agent will then review your case.

7 Parties to whom we may share your personal data

Suppliers or subcontractors. We may be able to share personal data with suppliers and subcontractors that we use to provide our services to you. For example, we have several software providers and business consultants. They process personal data received from us on our behalf. We may also share personal data with other financial providers in a business relationship with us. We take reasonable, legal, technical and organisational measures to ensure that personal data is shared securely.

Credit companies. Your personal data will be shared with credit companies and other similar suppliers to ensure that the credit assessment is made when applying for a loan.

Authorities. We have a legal obligation to prevent money laundering and terrorist financing and to comply with other regulations. Qred may share your personal data with authorities (such as the police or the IRS) when it is considered necessary to fulfil a legal obligation.

Debt collection companies. Qred may share personal data when we sell or place an order with a debt collection company to collect the debt. The sharing of personal data in this respect is based on our legitimate interest in selling and collecting debt. Collection companies process personal data either in accordance with their own privacy policy or on behalf of Qred. Debt collection companies may also report your outstanding debts to credit rating agencies or law enforcement agencies, which may affect your creditworthiness and your ability to apply for future credit.

Divestment. If Qred sells or purchases claims, business or property, Qred may disclose your personal data to a potential seller or buyer for such claims, business or property. If Qred or all of its assets are acquired by a third party, personal data about Qred's customers may be disclosed and shared.

Social media. If you contact us via social media in any way, such as Facebook, Twitter or Instagram, your personal information will be processed in accordance with the privacy policy of that platform.

8 Where do we process personal data?

We strive to process all personal data in the EU/EES. In some cases, another supplier may transfer and process data to countries outside the EU/EES. Qred shall ensure that reasonable legal, technical and organisational measures are taken to ensure that all data is managed safely. We will ensure that an adequate level of protection is maintained and that appropriate safeguards are adopted in accordance with applicable regulation.

9 How long do we process your personal data?

We process your personal data for as long as it is necessary to achieve the purpose of the processing, such as a contractual obligation. These purposes are described in this Privacy Policy. This means that even if we stop processing your personal data for one purpose, we may still need to retain your personal data if the data is needed for another purpose, for example because of a legal obligation.

10 Your right of access to the data, its correction and erasing.

Right to information. You have the right to receive information about how we process your data. We will report this through this Privacy Notice, other information on our website and by answering questions sent to us.

The right to access your data. You can request a copy of your data if you want to know what personal data we are processing about you. This copy of your personal data may also be sent in a machine-readable format (i.e. "data portability").

Right to rectification. You have the right to correct incorrect or incomplete information about yourself.

Right to delete data. You have the right to request the deletion of your personal data, for example, when we no longer need to process the data for the reasons for which the data was collected or when you have withdrawn your consent. In some cases, however, we are obliged to retain the data due to a legal obligation laid down by law.

The right to restrict or object to the processing of your data. If you believe your data is inaccurate or believe that we are using your data illegally, you have the right to ask us to stop processing it. You can also object to the processing if you believe that the circumstances make the processing illegal. In addition, you can always object to using your data for direct marketing.

Right to withdraw consent. When we process your data on the basis of consent or explicit consent, you can withdraw your consent at any time.

Right to file a complaint. You have the right to lodge a complaint with the national supervisory authority or contact us. See contact information below.

11 Our Cookie Policy

To improve the customer experience, we use cookies and similar technology when using our website. We also use cookies to collect statistics on how our website works and the information is used to improve our systems and websites. To improve the tailored experience, we use Qredi cookies and tracking technologies in our user interfaces, such as our web browsers. In our online interfaces, you can find information about cookie tracking technologies and how you accept or reject them.

12 Contact us

Qred is registered with the Swedish Business Register and its registration number is 559008-9800.

The company is headquartered at Tulegatan 15, 113 53 Stockholm. If you have any questions about this Privacy Policy or how we process your personal data, please contact us at privacy@qred.com.

You can always contact us if you have any questions about privacy or personal data. See also more information about us on our website.

13 Others

Updating our Privacy Policy. Qred may update and make changes to this Privacy Policy when Qred considers it appropriate. Notice of this can be published on our website.

Privacy Policy

1 What kind of personal data do we process?

2 What do we do with the information?

3 Qred Credit Services

4 Marketing and communication

5 Consent

6 Profiling and automated decision-making

7 Parties to whom we may share your personal data

8 Where do we process personal data?

9 How long do we process your personal data?

10 Your right of access to the data, its correction and erasing.

11 Our Cookie Policy

12 Contact us

13 Others

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