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
Posted
December 7, 2022
