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Froda has started a collaboration with NyföretagarCentrum Sverige. The partnership aims to support aspiring entrepreneurs through coaching, knowledge transfer, networking and financing, thus helping to promote diversity and equality in entrepreneurship.
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roda was founded in 2015 with a clear idea, to give companies opportunities to grow by making business financing available. Today, Froda is one of Sweden's fastest growing fintech companies and has helped more than 50,000 companies to grow. Froda is now entering into a partnership with NyföretagarCentrum. The partnership includes increased support for small businesses in Sweden.

- We share the vision with NyföretagarCentrum that more businesses should be started and given the opportunity to grow. We are impressed by the great results NyföretagarCentrum has in its program. Particularly worth noting is how important a role NyföretagarCentrum plays when it comes to female entrepreneurship and foreign-born people. "It is completely in line with why Froda was started and what we work for every day, so this partnership feels like a perfect match for us," says Olle Lundin, CEO of Froda.

NyföretagarCentrum works to give everyone the right conditions for starting a business and offers free advice to people who are thinking about starting their own business or have recently started. Since the organization was founded in 1985, they have helped to start more than 250,000 businesses in Sweden.

- We are very pleased that NyföretagarCentrum and Froda are now starting to work together to strengthen new businesses in the country. Froda is an innovative company that has entrepreneurship in its DNA and where founders themselves have been mentees and are now active as mentors in NyföretagarCentrum. Through the partnership, we can make it easier for more people to start a business, and offer financing on good terms. Something that is not only important for the entrepreneurs themselves - but also for Sweden's economic development," says Harry Goldman, CEO of NyföretagarCentrum Sweden.

About Froda
Froda was founded in 2015 with a clear idea - give small and medium-sized companies the same opportunities to grow as large ones. The company's service makes it easy and affordable for entrepreneurs to invest in their ideas. By digitizing the process, Froda has made it possible to help more companies with financing tailored to their unique business and its needs. A smarter business loan, quite simply.

Today, Froda is one of Sweden's fastest growing fintech companies and has helped more than 50,000 companies grow. The company is a credit institution covered by the state deposit guarantee and is under the supervision of the Swedish Financial Supervisory Authority (FI).

About NyföretagarCentrum
NyföretagarCentrum is Sweden's leading force for new entrepreneurship. It operates in more than 225 municipalities. In 2021, 15,000 people have received free, confidential and business advice, 8,000 companies have been started. After three years, 84 percent of the companies are active, added a mentor, the survival rate is 87%; less than one percent have gone bankrupt. This makes the business uniquely successful. The business is mainly financed by the business community. Behind NyföretagarCentrum is the Swedish Jobs and Society Foundation.

Two of Sweden's fastest-growing fintech companies are partnering to make growth financing easier and more accessible for merchants importing and selling physical products. Ghrough a unique and simple digital credit assessment, small and medium-sized traders will have better and faster access to cost-effective financing. The partnership will be launched in Sweden and the UK with the ambition to scale to the rest of Europe.

Both Froda and Treyd have grown rapidly in recent years by making financing solutions available to growing businesses. Unlike larger companies, small and medium-sized merchants do not have access to quick and easy capital, which is critical for growth. Now Treyd becomes the first partner to join Froda's new product Embedded financing, an API-based lending engine, which through smart credit algorithms, data and technical integration improves the predictability, scalability and flexibility of the end product.

- "We share the vision of helping small and medium-sized businesses grow. With Froda as a new financier and our solution, we are making it easier for even more merchants to get access to sell first and pay the supplier later, thus freeing up important growth capital," says Peter Beckman, CEO of Treyd.

Over the past year, both Froda and Treyd have grown aggressively, with growth rates of 100 and 700 percent respectively. The partnership means that both companies can scale up further and that both Froda's and Treyd's financing solutions will be available to many more merchants - initially in Sweden and the UK in the first quarter of 2023, with the ambition to scale to the rest of Europe.

- With Embedded financing, we can now help growth companies offer their customers flexible financing solutions. Before we had deposit authorization from FI, access to smart and flexible capital was a major growth inhibitor for us, now we can help Treyd avoid the same challenge. It's great to be part of their growth journey. We are happy to be able to launch this product together with Treyd who shares our vision to help entrepreneurs," says Olle Lundin, CEO of Froda.

About Froda
Froda was founded in 2015 with a clear idea - give small and medium-sized companies the same opportunities to grow as large ones. The company's service makes it easy and affordable for entrepreneurs to invest in their ideas. By digitizing the process, Froda has made it possible to help more companies with financing tailored to their unique business and its needs. A smarter business loan, simply put.

Today, Froda is one of Sweden's fastest growing fintech companies and has helped more than 50,000 companies grow. The company is a credit institution covered by the state deposit guarantee and is under the supervision of the Swedish Financial Supervisory Authority (FI).

About Treyd
Treyd is a fintech company that helps merchants grow by selling first and paying the supplier later. With simple and easy financing of goods purchases, companies can get discounts, free up working capital for investment in growth and use cheaper and greener logistics. Treyd has 52 employees with headquarters in Stockholm and offices in London and Cairo. treyd.io

Fintech company Froda is receiving funding from the European Investment Fund (EIF) to continue supporting innovative Swedish small businesses through the European Employment and Social Innovation (EaSI) program. The program is co-financed by the European Union, the European Investment Bank (EIB) and the European Investment Fund (EIF). With the support, Froda can lend over half a billion more to Swedish small businesses.

Froda was founded in 2015 to make it easier for small businesses to access capital and is now one of Sweden's fastest growing fintech companies. By digitizing the process, over 50,000 companies have been able to get help with financing. With the support of the EaSI program, Froda is able to lend over half a billion to Swedish small businesses.

- The lack of finance for small businesses remains one of the biggest barriers to growth. The support from the EIF goes hand in hand with our vision to help small businesses with financing on good terms. Through the program, together with the EIF, we can help even more small entrepreneurs with financing, something that feels extra important right now," says Olle Lundin, CEO of Froda.

- Thanks to funding from the EU program, fintech company Froda is able to provide more than SEK 500 million - or €46 million - in loans to small businesses in Sweden and help them grow. "Loan programs like this provide a significant and much-needed boost to small businesses, leading to local job creation and greater social inclusion," said Nicolas Schmit, European Commissioner for Employment and Social Rights.

The EIF has been selected as the fund manager for the EaSI Funded Instrument. The EIF is part of the European Investment Bank Group and its mission is to support Europe's micro, small and medium-sized enterprises.

- "Our mission includes supporting Europe's small and medium-sized enterprises by providing better access to finance. Through the partnership with Froda, we can ensure that more micro-enterprises have access to capital on good terms, which is in line with how we want to work towards our common goals of improving the financing situation for small businesses," said Thomas Östros, EIB Vice President.

Roger Havenith, EIF Vice President, commented:
"In difficult times, it is always the smallest players in the economy that struggle the most. This agreement with Froda, using resources from the EU's EaSI program, will allow us to channel funding to Swedish entrepreneurs and fully exploit the digital potential we have today, finance innovation, strengthen competitiveness and boost growth and jobs.

About the EU Programme for Employment and Social Innovation (EaSI)
Under the EU Programme for Employment and Social Innovation (EaSI), the European Union supports microfinance and social enterprise finance with a total allocation of €193 million for the period 2014-2020. The programme aims to increase access to finance for micro-enterprises, including the self-employed and vulnerable people, and social enterprises, thereby promoting job creation and social inclusion.

The EaSI-funded instrument is a €200 million fund launched in October 2019 that provides loans to financial intermediaries to support lending to micro and social enterprises. It is one of a number of EU financial instruments used under the EaSI program to support microfinance and social entrepreneurship. The EaSI-funded instrument is a partnership between the European Union, the European Investment Bank and the European Investment Fund.

About Froda
Froda was founded in 2015 with the idea of giving small and medium-sized companies the same opportunity to grow as large ones. By digitizing the process, Froda has made it possible to help more companies with financing tailored to their unique business and its needs. Today, Froda is one of Sweden's fastest growing fintech companies and has helped more than 50,000 companies grow. The company is a credit institution covered by the state deposit guarantee and is under the supervision of Finansinspektionen (FI).