Nils Krag was a Norwegian businessman. He was born in Risør

Risør

is a city and municipality in Aust-Agder county, Norway. The city belongs to the traditional region of Sørlandet. It is a popular tourist place. The surrounding area includes many small lakes and hills, and is known for its beautiful coastline as well....

, a son of politician Peter Rasmus Krag

Peter Rasmus Krag

Peter Rasmus Krag was a Norwegian engineer captain in the Norwegian Army, chief-of-roads and politician. He sat as a member of the Parliament of Norway for several terms....

. He was a brother of Thomas

Thomas Krag

Thomas Peter Krag was a Norwegian novelist, playwright and writer of short stories. He was born in Kragerø, grew up in Kristiansand, and settled in Copenhagen...

 and Vilhelm Krag. He was the founder of the company Krag Maskinfabrikk, a producer of franking machines and postmark machines. When Karl Uchermann designed the world's first practical franking machine in 1901, a series of 18 machines was produced between 1903 and 1905. Between 1932 and 1995 the company produced 35,000 machines.