Business Loans
Back
Back
Back
For over 40 years, Göran Sundström has been engaged in beekeeping on the family farm outside Uppsala. It all started with him and wife Eva starting to take care of a community with bees when there were too many apple trees but too few bees in the yard and from there it has continued. They made beeswax candles, soaps and ointments which they went around to markets and sold. Eventually, the focus became more and more on honey and in 1993 Upplands Honung was started.
Today, Upplands Honung has 90 unique apiaries, 10 employees and an annual turnover of more than SEK 7 million. The basic idea is to focus on sustainability. To some extent, in order for organic farming to continue to be KRAV-certified, but also to ensure that employees feel safe when working. Upplands Honung still operates on the farm where it once started and remains a family business. In addition to Göran who is a bee master and Eva who makes all the labels, her daughter Emmy also lives on the farm with her family and also works in the company.
In addition to the beekeeping farms on the farm, Upplands Honey has beekeepers scattered around Uppland. They produce about 30 tons of honey themselves but also buy up to 50-60 tons of honey from other beekeepers, which they then bottling up. This is done in order to be able to keep production and operations running all year round, something that is important for Upplands Honey from several aspects. Partly to be able to deliver the volumes demanded by the wholesalers they work with, and partly to be able to offer the employees the security that a permanent position provides.
Founded
1993
Headquarters
Uppsala
Employees
10
Froda came into the picture in 2022 when Upplands Honung needed to make an investment in a larger bottling machine for the honey. “When it comes to a larger investment, it is difficult to finance it out of your own pocket without affecting liquidity too much. It doesn't always work out financially and it often takes far too much time away from us to the point that it affects ordinary operations,” says Sundström. “The bottling machine we bought in is just beneath those used in large-scale production, which allowed us to produce on the large scale that we are possible to do. We bottle up around 2500 cans per day inside our factory and in addition to the bottling machine, we also have a label machine, all to ensure the same supply all year round.”
7.3
mSEK
Turnover
Why did you choose Froda?
“It was so easy with Froda compared to other banks. It was quick and clear with information about the loan space and terms. We saved a lot of time and administration which is invaluable as an entrepreneur when you already have a hard time keeping up with everything you need to do. It was also helpful to have a clear explanation of how the repayment would proceed.”
The Future of Uplands Honey
“We will continue to produce our own honey and buy in to bottle it up. Our honey called Uplands Honung is sold locally in Uppsala, while the honey we buy and bottle ourselves we sell to wholesalers, such as Axfood. That means our production is nationwide, and we will continue to be. With the investment, we continue with our 2500 cans per day.”
Om Froda AB
Froda was founded in 2015 with a clear mission to democratize the access to financing and provide small and medium-sized businesses with the same opportunities to grow as large ones. Through digital processes and technological innovation, Froda has shortened the loan process from months to minutes, making it easy for entrepreneurs to invest in their ideas.
Today, Froda is one of Sweden's fastest-growing tech companies with a 1.7 billion SEK valuation and well known investors such as Karl-Johan Persson, Nicklas Storåkers and Victor Jacobsson among the owners.
In 2021, Froda launched a strategic initiative within embedded financing and through it, we have expanded to the Nordics and the UK, as well as having established partnerships with Visa, Lunar and Checkout.com among others.
Froda is a credit market company regulated by the Swedish Financial Supervisory Authority.
