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.
Posted
May 13, 2025
