Fintech company Froda has shown strong growth in recent years. Last fall, the company was valued at SEK 1.2 billion and since its inception, Froda has lent over SEK 6.5 billion. Now the company is taking the next step in its growth journey as it expands into the UK. The expansion takes place through the partnership with Treyd and means that Froda is present in five markets: the UK, Norway, Denmark, Finland and Sweden.
In December, Froda announced a partnership with Treyd to make growth financing easier and more flexible for merchants importing and selling physical products, by offering financing for inventory purchases. In a situation where many merchants face challenges such as lack of liquidity, increased costs and logistics issues, the solution between Froda and Treyd enables improved predictability, scalability and flexibility of the end product through smart credit algorithms, data and technical integration.
- International expansion has long been one of our main goals. So far, the expansion has been focused on the Nordics, now we are taking the next step into Europe. We are in a business environment that makes it even more important for traders to have access to flexible financing. With this solution, we want to make it easier for entrepreneurs to release important growth capital," says Olle Lundin, CEO of Froda.
Historically, business finance has been difficult to access due to long waiting times, physical meetings and time-consuming administration. Froda was founded with the aim of changing this and thus contributing to a more equal and inclusive business community, where companies receive capital to grow through completely objective and digital assessment.
Since its inception in 2015, one of its objectives has been to expand internationally to help even more entrepreneurs globally. One step in that direction is to expand together with partners. In 2020, the company set up a business area focusing on embedded finance, of which the partnership with Treyd is an example. In addition to Treyd, Froda has partnerships with Lunar, Yabie and Worldline, among others, and launched a card-based embedded lending product with Visa earlier this year.
- With our Embedded financing product, we can help emerging companies offer their customers flexible financing solutions through a simple API integration. Partnering with Treyd means we can help each other scale and make our financing solution available to many more merchants. We have already launched the product in Sweden, Norway and Denmark and look forward to seeing how the product is received in the UK," says Stella Snickare, VP Froda Embedded.
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 57 employees with headquarters in Stockholm and offices in London and Cairo. treyd.io
About Froda
Froda was founded in 2015 with a clear idea - give small and medium-sized businesses 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 Finansinspektionen (FI).
Posted
June 1, 2023
