Froda and Juni are two of Sweden's leading fintech companies. The two billion-euro companies are now entering into a partnership when Juni joins Froda Embedded. The partnership involves a long-term investment in embedded finance and begins with Juni integrating with Froda's technical platform and being able to use Froda's capital pool.
The companies share the vision of helping as many entrepreneurs as possible to access finance on good terms. There are 25 million small and medium-sized enterprises (SMEs) in Europe, yet lack of access to finance is one of the biggest obstacles for smaller companies looking to grow. The partnership aims to make finance more accessible and thus help more people to grow.
- The journey that Juni has made and how far they have come in a short time is very impressive. I have followed the company since the start and therefore it is extra fun that they now choose Froda Embedded to continue to scale and that Froda can be part of their growth journey, says Olle Lundin, CEO and co-founder of Froda.
Since its launch in 2021, Froda Embedded has become one of Europe's leading providers of embedded finance solutions for businesses. Using the company's technology platform, partners can either integrate Froda's services and offer them to their customers, or use Froda's financing to build their own financing solutions. Froda's license also makes it easy for partners to increase lending and scale quickly in Europe.
Neobank Juni has come a long way since its launch in 2020 with the ambition to create the global corporate bank of the future. Juni gives businesses and finance teams access to modern banking services, expense management, financing and automated accounting, all in one platform. With low interchange fees and flexible financing, Juni wants to make it easier for companies operating globally. Future plans include obtaining a banking license for further expansion.
- Froda's credentials and expertise in SME lending make them a perfect partner for us. We were looking for a partner that, like us, has a focus on modern solutions and technology. Through our partnership, we will be able to scale faster internationally and support more entrepreneurs," said Samir El-Sabini, CEO and co-founder of Juni.
Both Froda and Juni were founded with the vision of helping entrepreneurs with various financial solutions. The partnership initially means that Froda will be a financing partner and that Juni will have the opportunity to use Froda's capital pool for its services through embedded financing.
About Juni
Juni was founded in 2020 by Samir El-Sabini and Anders Orsedal with the ambition to create the global corporate bank of the future. Listed as the fastest growing fintech startup in Europe in 2021, Juni gives businesses and finance teams access to modern banking services, expense management, financing and automated accounting - all in one platform.
For more information about Juni, please visit: www.juni.co
About Froda
Froda was founded in 2015 with the ambition to redefine business finance by making it more accessible and efficient for SMEs. Froda creates opportunities for all entrepreneurs, regardless of background, to realize their business ideas. Using digital processes and technological innovation, Froda has revolutionized the loan process, shortening it from months to minutes - with a focus on providing fast, fair and inclusive financing.
Today, Froda is one of Europe's fastest growing tech companies, backed by investors such as Karl-Johan Persson, Nicklas Storåkers and Victor Jacobsson. 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 the Swedish Financial Supervisory Authority.
Read more about Froda
Posted
September 4, 2024
