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Love brought Jeandre Le Roux to Sweden, but love for South Africa led her and her husband Daniel Ramström to start a business together. With courage, hard work and passion, they have taken Nordic Stretch Tents from the garage at home in Halmstad to become the market leader in stretch tents in Sweden. What once started as a way to keep in touch with their home country has today grown into a successful family business.
As the name suggests, Nordic Stretch Tents offers stretch tents, glamping tents and various other solutions for areas of different sizes to provide weather protection for both large and small events. The tents are manufactured in South Africa before being shipped by boat to Sweden. The company has grown every year since its inception and in addition to the business in Halmstad, they have also managed to open a Stockholm office last year.
"When I moved to Sweden, I wanted to start a business that gave us a connection to, and reason to, go back to South Africa continuously. I noticed that stretch tents were not as common as back home. There was only one small operator in Stockholm and when we contacted him, it turned out that he wanted to sell the business. So we decided to buy the company."
Founded
2014
Headquarters
Halmstad
Employees
5
As a seasonal business, it's not easy for Nordic Stretch Tents to put together the financial puzzle during the off-season. During the high season, it is full speed ahead and revenues are rolling in. Then, when the off-season arrives, it stops, while the work to start preparing for the next season starts. Having to spend money to develop the business while no revenue is coming in is a challenge, which is why they turned to Froda for help with financing.
"We have three to five months a year where expenses are higher than revenues. Financing gives us the opportunity to plan cash flow for that period and to place larger orders from South Africa."
2014
was founded
Why did you choose Froda?
Froda was by far the best deal both in terms of interest rate and loan amount, and because it is so convenient, we have continued to be a customer and borrowed several times. It means we don't have to worry as much during the winter months, while also allowing us to invest and grow the business. We can be more efficient with the company's money and the fact that we can place orders before the season starts means that the loan ultimately saves us money. It's also reassuring to know that if we need to, we can turn to Froda and have money in our account within days."
The future of Nordic Stretch Tents
Nordic Stretch Tents has grown every year and the plan is to continue to do so. Daniel and Jeandre want to develop their processes to become more efficient, spend more time on developing the business and have a financial situation that allows for continuous investment. They are also looking to establish themselves in Norway.
"We enjoy working with people, taking care of our customers and nurturing the relationship with them. I think that's a big reason why a lot of our customers come back to us and we can have fun with them while we work."
Related borrowing requirements
Ahead of next season
Cover your finances during the season when no one is particularly keen on ice-cold ice cream.
Investment and growth
Finance new initiatives and create room for growth without slowing down cash flow.
Liquidity
Give the company financial leeway to manage liquidity in both the short and long term.
About Froda AB
Froda was founded in 2015 with the ambition to redefine business finance by making it more accessible and effective for small businesses. Froda's vision is to empower all small business owners, regardless of background, to realize their business ideas. By combining technological innovation with efficient digital processes, Froda has shortened the loan processing time from months to minutes - creating a financing model that is fast, fair and inclusive. Today, Froda is one of Europe's fastest growing tech companies.
In 2021, Froda launched an embedded finance initiative, through which the company has expanded to the Nordic region, the UK and Germany and entered into partnerships with Visa, Lunar and Checkout.com, among others. As a credit market company, Froda is under the supervision of Finansinspektionen.
