KredFin (Formerly Skandinaviska Kredifonden)

KredFin, formerly known as Skandinaviska Kredifonden, is a private credit fund manager founded in 2015 that provides alternative financing to companies in the Nordic region. The firm was established after its founders recognized that capital adequacy regulations implemented after the 2008 financial crisis had reduced the willingness of traditional banks to finance businesses. The company is structured as a manager of alternative investment funds (AIFs), which raise capital from various investors to invest in assets with the goal of generating returns.

The firm's business model is centered on managing specialized funds that offer direct lending and factoring services. Its flagship fund, Scandinavian Credit Fund I (SCFI), launched in January 2016 and focuses on secured direct lending to small and medium-sized companies for purposes such as expansion, investment, or restructuring. In mid-2019, KredFin launched its second fund, the Nordic Factoring Fund (NFF), which provides exposure to the Nordic market for corporate loans via factoring. Factoring allows companies to sell or leverage their invoices to access working capital, a service that has seen increased demand from non-bank lenders. Revenue is generated through management and performance fees charged to the funds.

In April 2023, financial services company Mangold AB increased its ownership stake in KredFin to 45.6%, becoming the largest owner. Mangold first invested in the firm in 2016. However, in May 2023, it was announced that the Scandinavian Credit Fund I would be liquidated due to significant net outflows which made managing the fund untenable.

Keywords: alternative investment funds, direct lending, credit fund manager, factoring, corporate financing, Nordic market, asset management, private credit, SME financing, secured loans, working capital, investment funds, financial services, Nordic Factoring Fund, Scandinavian Credit Fund I