Press

Helsinki, May 13 – Froda, a leading fintech company in embedded finance, and the British fintech company wamo are today launching a new digital financing solution for Finnish small business owners. The partnership aims to reduce the financing gap for small businesses by offering fast and flexible financing of up to SEK 2 million directly via Visa business cards. The goal is to strengthen over 25,000 small businesses and contribute to increased growth in the Finnish business sector.

Despite Finland being among the most digitally advanced countries in Europe, with 82% of the population having good digital skills, access to modern business financing has struggled to keep pace with the increasing digital demands. Small and medium-sized enterprises account for the majority of the country's employment and growth, but many still lack access to flexible and digital financing solutions.

This partnership addresses the problem by offering a completely digital and flexible financing solution via card-based loans. The new solution, which is now being launched in Finland, is based on so-called card-based embedded lending – a model where financing is integrated directly into wamo's platform. In just a few minutes, companies can apply for loans and get a decision. The technology makes it possible to automate the entire process, from application to disbursement and repayment, without having to leave wamo's ecosystem.

– Our collaboration with Froda is an important step in making business financing more accessible to SMEs throughout Europe, starting in Finland. With permission from the Financial Supervisory Authority in Finland (FIN-FSA), wamo's customers can apply for loans in just a few steps, and if the company qualifies, they can get a loan decision of up to SEK 2 million in as little as 15 minutes, says Yanki Onen, CEO and founder of wamo.

Unlike traditional financing, which is often characterized by long processing times and limited options, this model gives companies the opportunity to manage cash flow, invest in growth, and simplify their daily operations, directly in the tool they already use.

– Finland has a high level of digital maturity, but business financing hasn't kept pace. This partnership is a concrete step towards making financing as simple as any other digital service, and we are pleased to launch card-based lending in the Finnish market together with wamo,” says Olle Lundin, CEO and co-founder of Froda.

Since 2021, Froda has developed embedded finance solutions that enable partners to integrate SME financing directly into their platforms. In 2022, Froda, in collaboration with Visa, launched the world's first card-based lending solution, which uses Visa's card infrastructure and push payment features for completely seamless transactions. Froda's card-based loans enable card-issuing partners to offer business loans in real-time, with smooth disbursement and repayment via Visa business cards. This removes the barriers to financing and gives SMEs the flexibility to manage their finances and scale up their business more effectively.

The partnership with wamo is another step in Froda's mission to offer businesses across Europe accessible and flexible financing solutions, on the best possible terms. The new product is now live in Finland, and expansion to more European markets is planned for 2025.

The Swedish fintech company Froda has secured SEK 224 million in a Series B round to accelerate its European expansion. The investment will be used to scale up the company's embedded finance offering, broaden partnerships and reach more small business owners in new markets in Europe. The round was led by Incore Invest, with continued strong support from existing investors.

The round takes place at a time when capital raising within fintech has slowed down significantly, and many players are finding it difficult to attract new venture capital. The investment signals a growing confidence in embedded finance as a model for scalable and sustainable growth within fintech. The capital will be used to scale up Froda's operations, establish new partnerships and expand to more European markets.

– We are in a crucial growth phase for Froda and are seeing a sharp increase in interest from both new and existing partners across Europe. With Incore Invest behind us, we can accelerate our expansion and scale up partnerships to continue supporting small businesses with the financing they need. Our goal has always been to make financing fairer, simpler, and more accessible, and this round makes it possible for us to take bigger steps in the right direction, says Olle Lundin, co-founder and CEO of Froda.

Froda grew its customer base by 30 percent in 2024 and has signed an average of one new Froda Embedded partnership per month. The company was included in the Financial Times list FT1000: Europe’s Fastest Growing Companies 2025, and has recently expanded its partnership with the European Investment Fund (EIF) through the launch of the first pan-European guarantee for microfinancing. This enables Froda to scale up its proven model from Sweden, where Froda's SME customers are growing twelve times faster than the national average.

Since 2021, Froda has focused on embedded finance, which has been the basis for the company's international expansion. Under Froda Embedded, the company offers white-label products for SME financing, allowing partners to benefit from Froda's financing and infrastructure. The platform integrates directly into the ecosystems of banks, fintech companies, and payment companies, enabling them to offer business loans in their own interface and under their own brand. New partnerships with Mimo (UK), Lunar (Nordics), and Kontist (Germany), among others, demonstrate the growing demand. This strengthens Froda's role in addressing the growing financing gap for small businesses in Europe, which is estimated at 400 billion euros.

– At Incore Invest, we look for companies that not only change markets but fundamentally reshape them. Froda is an excellent example of this. Their strong business strategy, impressive growth curve, and industry-leading partnerships make them an obvious investment for us. We are proud to support Froda in their expansion across Europe and in their continued growth journey, says Nicolai Chamizo, founder and CEO of Incore Invest.

The investment in Froda is one of the first from Incore Invest's new fund – Incore Invest II. The fund is focused on accelerating the growth of fast-growing companies in fintech, SaaS, and embedded finance. Within the framework of a broader portfolio strategy, Froda stands out as a flagship example of the future of fintech and investment-driven growth in the Nordics, and reflects the type of company that Incore's fund is designed to support.

About Froda

Froda was founded in 2015 with the ambition to redefine business financing by making it more accessible and efficient for small and medium-sized enterprises. Froda creates opportunities for all entrepreneurs, regardless of background, to realize their business ideas. With the help of digital processes and technological innovation, Froda has revolutionized the loan process and shortened it from months to minutes – with a focus on offering fast, fair, and inclusive financing. Today, Froda is one of Europe's fastest-growing tech companies, with support from investors such as Karl-Johan Persson, Nicklas Storåkers, and Victor Jacobsson. In 2021, Froda launched an initiative in embedded finance, through which the company has expanded to the Nordics, the United Kingdom, and Germany, and has entered into partnerships with Visa, Lunar, and Checkout.com, among others. As a credit market company, Froda is under the supervision of the Swedish Financial Supervisory Authority. Read more about Froda

About Incore Invest

Incore Invest is a Stockholm-based investment company specializing in growth investments in internet and technology. The company was founded in 2022 by Nicolai Chamizo and works closely with founders and management teams to develop companies into market leaders. With deep sector knowledge and an extensive network within the European tech sector, Incore Invest offers strategic capital and active support to its portfolio companies. Its investments include Brite Payments, Froda, Mynt, SAVR, and Kameo. In 2025, the company launched its second fund, Incore Invest II, with the aim of accelerating growth journeys for promising tech companies in Europe.

Linda Alexandersson, co-founder of Maybe Baby, has been awarded Froda's Future Female Entrepreneur award. Together with her team, she is now ready to launch a digital fertility solution that combines technology and medicine to give women clear and personal insights into their fertility, through a simple home test at a reasonable price.

The Female Entrepreneur of the Future award, which aims to support and promote female entrepreneurs in the start-up phase, is part of Froda's commitment to creating a more gender-equal business environment. This year's winner was chosen by a unanimous jury consisting of the entrepreneurs Jonas Groth, co-founder of Aarke, Ludwig Jonsson, co-founder of Rodolfo, Olga Beck-Friis, co-founder of Pocketlaw, Oliver Mohseni, co-founder of Froda, Paula Runsten, co-founder of Rebaba, Sara Serray, founder of Wellibites.

"- It means an incredible amount to us to receive this award. Thanks to initiatives like this, which are crucial for female entrepreneurship, we can drive the change that is needed in women's health. This award, together with the thousands of women on our waiting list, confirms that change was truly needed. For us, it's not just about a fertility test, it's about changing the future of women's health. We want to give women the opportunity to plan their lives on their own terms and get answers before it's too late. Thanks to Froda, we are now one step closer to our goal," says Linda Alexandersson, co-founder of Maybe Baby.

Linda Alexandersson, originally from Borås and now living in Stockholm, has over 10 years of experience in the tech and startup world. The idea for Maybe Baby was born out of her own experiences with long waiting times, unclear information and high costs in fertility care. Together with her co-founders, Alexandra Kaktus and Hamed Khodabakhshi, she has developed a digital solution that makes fertility information accessible, understandable and affordable.

"- Linda and Maybe Baby are a shining example of how female entrepreneurship can drive real change. With a strong idea, a well-thought-out strategy and a clear focus, she impressed a unanimous jury. I am particularly impressed by the drive and passion that has enabled them to come so far without external backing. We at Froda are proud to be able to highlight more female entrepreneurs and look forward to following Maybe Baby's continued journey. We hope that this award will be a step on the road to even greater success," says Oliver Mohseni, co-founder of Froda.

The idea behind Maybe Baby started to take shape over a year ago, but it wasn't until June 2024 that Linda and her team began to form the company. Through the startup incubator Antler and mutual contacts, Linda found her two co-founders, and after nine months of intensive product development, Maybe Baby is now almost ready to roll out. The launch of the company's first product is planned for spring 2025.

– Our short but intense journey has been full of challenges. That's why it feels extra good that others also see the value in what we do and believe in our vision. We are really looking forward to the launch and to continue driving our company forward, we are only at the beginning of our journey and this award strengthens our belief that we are on the right track, says Linda Alexandersson.

Jury's reasoning

By combining research, technology and user-friendliness, Linda has created a solution that strengthens women's health and impacts family formation and reproductive health in general. With a smart business model, a clear go-to-market strategy and a focus on preventive care and personal health data, she addresses a market with great needs and few alternatives. Her drive, vision and ability to solve a real problem make her an obvious recipient of the award.

About the award

The award is Froda's way of recognizing young female entrepreneurs, and the Future Female Entrepreneur award was established in 2022. The award also includes a scholarship intended to provide young women who want to start or have started a business with capital that enables the realization of their idea. The assessment criteria for the scholarship are drive, sustainability, creativity, feasibility, problem-solving, the impact the company would have, and the impact the scholarship and award would have on the company.