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 more than SEK 6.5 billion. Now the company is taking the next step in its growth journey as it expands to the UK. The expansion comes through a partnership with Trade and Froda is present in five markets: Great Britain, Norway, Denmark, Finland and Sweden.
In December, Froda announced a partnership with TRADE aimed at making development financing easier and more flexible for merchants who import and sell physical goods by offering commodity procurement financing. With many merchants facing challenges such as liquidity, increased costs and logistical issues, the solution between Froda and Treyd enables improved predictability, scalability and flexibility in the end product through smart credit algorithms, data and technology integration.
– International expansion has long been one of our main goals. Until now, expansion has been focused on the Nordics, and now we are taking the next step to Europe. We are in an environment that makes it even more important for businesses to have access to flexible financing. With this solution, we want to make it easier for entrepreneurs to release critical growth capital, says Olle Lundin, CEO of Froda.
Historically, business financing has been difficult to access due to long wait times, face-to-face meetings, and time-consuming administration. Froda was founded with the aim to change this and thereby contribute to a more equitable and inclusive business life, where companies receive the capital to grow through a purely objective and digital assessment.
Since the beginning of 2015, one of the goals has been to expand internationally to help even more entrepreneurs worldwide. One step in that direction is to expand with partners. In 2020, the company added a business segment with a focus on embedded finance, where the partnership with Treyd is an example. Besides 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 finance product, growth companies can help provide flexible finance solutions to their customers through simple API integration. The partnership with Treyd will help us scale with each other and make our financing solution available to more merchants. We have already launched the product in Sweden, Norway and Denmark and are looking forward to seeing how the product is received in the UK, says Stella Snigare, VP Froda Embedded.
About Trade
Treyd is a fintech company that helps merchants grow by selling first and paying the supplier later. With simple and flexible financing for the purchase of goods, companies can obtain discounts, free up working capital for investment in growth, and use cheaper and greener logistics. Treyd is headquartered in Stockholm and has 57 employees in offices in London and Cairo. treyd.io
About Froda
Froda was founded in 2015 with a clear idea – to give small and medium enterprises the same opportunities to grow as large enterprises. With the company’s service, it is easy and cheap for entrepreneurs to invest in their ideas. By digitizing this process, Froda has made it possible to help many companies with financing tailored to their individual business and its needs. A great 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 under the State Deposit Guarantee and under the supervision of the Financial Supervisory Authority (FI).
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