Krea and Klarna, two fintech companies in Sweden, have announced that their collaboration with each other has enabled Swedish SMEs to get 15% larger loan offers at a 4% lower interest rate. While Krea is a digital SME loan platform, Klarna has a fintech platform named Klarna Kosma for banks and retailers. SMEs can use Klarna Kosma to promptly provide day-to-day transaction-level data to the Krea platform directly from their bank accounts. Banks and lenders can offer SMEs larger loans at lower interest rates because of such detailed data, which has facilitated more than 20,000 small business loan approvals this year.
