Creddo enhances its SME loan broker service with Monto’s real-time data API

Published July 14, 2023

Creddo, a Sweden-based comparison platform for business loans, has partnered with Monto to enable Creddo’s partners to make credit decisions based on real-time financial data.

Creddo leverages Monto to access financial statements in real time from Sweden’s leading accounting software providers, through a single API. With a shared vision of levelling the playing field in SME financing, Creddo and Monto are aiming to change how credit decisions are made, in order to create a smoother and fairer process for lenders and borrowers alike.

The partnership means that Creddo’s lender partners can access up-to-date financial data on loan applicants, provided that the business in question consents to sharing it. According to extensive surveys by Monto, and EY, between 70 to 80 percent of SME businesses in northern Europe are ready to share their financial data in exchange for better, cheaper or faster services.

Monto is already embedded into Creddo’s user journey, which means that SME businesses comparing financing options can choose to link their accounting software to Creddo in less than a minute. As a result, lenders can fetch up-to-date financial statements on selected businesses through a centralised platform maintained by Creddo.

“In today’s uncertain economic landscape, most lenders need access to accurate and relevant financial information on borrowers in order to optimise their decisions. Monto allows us to easily provide up-to-date financial reports to the fingertips of our partners, helping them gain a more comprehensive understanding of borrowers’ financial health,” says Johan Lohman, CEO at “This allows lenders to better analyse a business’s cash flows and financial results, resulting in more tailored financial offerings for borrowers,” he adds. 

Monto x Creddo in a nutshell:

  • Monto automates the sourcing of financial data and facilitates the analysis of fresh financial information and metrics
  • Creddo’s network of partners can analyse business’ rolling income statements and balance sheets – instead of relying on dated annual reports and static data sources
  • Creddo’s partners save time and money throughout the credit process

Monto and Creddo share the view that all lenders, big and small, need to understand their borrowers better in order to stay competitive and optimise portfolio risk. Lenders also need to become more efficient regarding their internal processes by reducing manual data collection. Monto makes both things possible for brokers and individual lenders alike; providing modern, data-driven risk assessments without the need to initiate costly and cumbersome IT projects.

“Loan brokers play a pivotal role in growing the access to fair and transparent financing for SME businesses. We’re excited to be helping Creddo establish a hassle-free way for lenders to access and analyse fresh financial information. Our job as a credit intelligence provider is to facilitate the flow of relevant data securely and seamlessly, so that Creddo can focus on growing its core business,” says Leonard Schreij, CEO at Monto.

Founded in 2019, Creddo enables SME businesses to easily compare and apply for business loans through more than 20 alternative lenders and banks.