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The buy-now-pay-later company Waylog was founded in 2022. Since its inception, the company's total lending has grown from 20 million to 500 million SEK, and they have expanded to four new markets. A key factor behind Waylog's rapid growth has been their early partnership with Froda as a financing partner, providing them with easy access to capital. The partnership is part of Froda's international expansion journey.

Froda Embedded was started in 2021 as a business area within Froda, aiming to assist fintech companies and banks in scaling up their offerings and expanding into new markets through seamless API integration. Waylog is an example of how embedded financing enables the development of scalable financing solutions that become increasingly sophisticated as a company grows. Over time, Waylog's integration level has evolved in parallel with its growing portfolio, transaction volume, and technical foundation. The company now operates a fully automated, customized API solution ready to support its continued growth and expansion.

– With Embedded financing, we can now help growth companies offer their customers flexible financing solutions. Before we had authorization from the FI (Financial Supervisory Authority), access to smart and flexible capital was a major growth inhibitor for us. Now, we can help Waylog avoid the same challenge. Being a part of their growth journey is fantastic, says Olle Lundin, CEO of Froda.

In just one year, Waylog has evolved from a newcomer to a reliable financier within the supply chain for hundreds of companies in the Nordics and the UK. Through Waylog's platform, customers can apply for a free credit limit, which can be used to pay up to 120 days before repayment to Waylog is due. This way, customers can optimize their liquidity, secure better order terms, and inject capital into their businesses without giving up control or ownership. Behind Waylog's platform is Froda Embedded as the financier. The rapid growth journey is a great example of how Froda Embedded can help fintechs and banks grow.

– Waylog fundamentally revitalizes an old financial product and makes it more adaptable and flexible to meet our customers' unique needs. The ease of integration and the potential to scale outside of Sweden have been crucial to our ability to grow at the pace we have. Froda has played a crucial role in this, says Jens Malmqvist, co-founder of Waylog.

About Waylog:
Founded in 2022 by Jens Malmqvist and Nils Ohlsén, Waylog has experienced exponential growth from the beginning and quickly established itself as a reliable partner for importing companies in the Nordics and the UK. Since its inception, Waylog's total lending has reached 500 million SEK in financing, representing a remarkable growth of 2500 percent. The company has also expanded its services to include several Nordic countries and the UK.

About Froda
Froda was founded with a clear mission – to revolutionize the banking experience for entrepreneurs by making it easy and affordable for them to invest in their ideas. By digitizing the process, being data-driven, and applying machine learning, we can not only be faster than traditional banks but also more objective, precise, and fair in our assessments. Today, we are one of Sweden’s fastest-growing fintech companies with significant international expansion plans. Since the start, we have helped more than 50,000 businesses grow, and through Froda Embedded, we have made it possible for partners to connect to our technologically advanced financing platform to offer financing to their customers.

Froda, one of Sweden’s fastest growing fintechs, has announced a groundbreaking partnership with Visa and Checkout.com that revolutionizes the use of Visa Direct. The solution introduces innovative push-payment functionality for business lending, enabling seamless payouts and repayments for businesses across Europe.

Visa Direct is a processing capability that allows safe, convenient and real-time funds transfers to financial accounts using card credentials. The service is used by a wide variety of businesses worldwide, but its potential for business lending has remained untapped until now. Through this partnership, Froda leverages Visa's robust infrastructure to provide a secure, efficient and fast method of payouts for business loans.

– We are excited to establish this partnership with Visa and Checkout.com that is going to strengthen our Froda Embedded offering and empower banks, neobanks and fintechs across Europe to offer financing with fast and reliable funds processing. With access to Visa Direct we are able to further streamline the lending process and offer a seamless experience across markets, says Olle Lundin, co-founder and CEO of Froda.

The solution is made possible through a partnership with the global payment provider, Checkout.com, which provides access to Visa Direct and the Visa Token Service, enabling the solution. Thanks to the use of tokens, end-to-end payments can be processed without requiring manual entry of card details. This improves the customer experience by providing easy card usage. Visa Direct access is offered to Froda Embedded partners that are providers of Visa Business Cards.

– We are excited to be a part of this innovative card-based embedded lending product for SMEs. At Checkout.com, we are constantly looking for new innovative partnerships, products, and ways to solve complex challenges by leveraging payments. This partnership is definitely the stepping stone for the future of payments and embedded lending, says Adel Naamneh, VP Global Strategic Solutions, at Checkout.com

Unlike traditional lending methods that typically rely on bank transfers for payouts, Visa Direct utilizes push payment functionality where funds are transferred between accounts directly through Visa's extensive card network. The advantages of leveraging Visa Direct for business loans are numerous. Through an automated real-time credit assessment process, Froda can offer instant loan approvals. Visa Direct makes it possible to send real-time loan disbursements as well, significantly reducing the time from application to payout. Moreover, Visa Direct works the same way regardless of market. Making it possible for connected partners to scale their financing offering without having to implement new direct debit solutions.

– We are thrilled to be a part of this pioneering initiative together with Froda and Checkout.com. Through this, we are introducing a new transaction type that is only available through Visa cards. I believe that this is going to set a new standard for business lending for our clients, allowing them to empower businesses across Europe to grow and thrive, says Philip Konopik, Regional Managing Director at Visa in the Nordics and Baltics.

The product card-based embedded lending was introduced in February 2023 and launched on the Danish market in June the same year together with the digital bank Lunar. Visa Direct access is offered to Froda Embedded partners that are providers of Visa Business Cards.

About Froda
Froda was founded in 2015 with a clear idea - to provide small and medium-sized businesses with the same opportunities to grow as large companies. The company's service makes it smooth and affordable for entrepreneurs to invest in their ideas. By digitizing the process, Froda has made it possible to help more businesses with financing tailored to their unique operations and needs. Simply put, it's a smarter business loan.

About Checkout.com
Checkout.com is a global payments solution provider that helps businesses and their communities thrive in the digital economy. Purpose-built with performance, scalability and speed in mind, our modular payments platform is ideal for enterprise businesses looking to seamlessly integrate better payment solutions. With a global team spread across 19 offices worldwide, we offer innovative solutions that flex to your needs, valuable insights that help you get smart about your payments’ performance, and expertise you can count on as you navigate the complexities of an ever-shifting world. Find out more at checkout.com.

About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

Froda is launching its card-based embedded lending solution in Denmark together with Lunar and Visa. The launch follows a successful test period and the goal is to make it faster and cheaper for Danish small businesses to access financing and secure the necessary capital to drive growth.

Small and medium-sized enterprises (SMEs) make up 99 percent of all Danish businesses* and play a vital role in Denmark's economy and competitiveness. However, SMEs often face obstacles when in need of financing, which hinders their growth potential.

To address this, the Swedish fintech company Froda, in collaboration with Visa, has developed card-based embedded lending, a new loan solution that uses card rails for payouts and repayments. The solution is offered as a white label product through Froda Embedded to partners that are issuers of Visa business cards.

– It started with an idea and a sketch on paper more than a year ago, and now it has become a reality thanks to our partnership with Visa and Lunar. We have experienced a significant demand for the solution among Danish entrepreneurs during the test period, making Denmark a natural next step on our journey, says Olle Lundin, co-founder and CEO of Froda.

The process is fully digitized and by using Visa cards for payouts and repayments, the entire loan process can be shortened from the typical two months, to a few minutes. This breakthrough in the market ensures both speed and efficiency for small businesses when they are in need of financing.

– We are constantly working to find new, innovative ways to utilize the card infrastructure, including through strong partnerships. In collaboration with Froda and Lunar, we can digitize the entire loan process and ensure a seamless and fast process for the benefit of small businesses, says Philip Konopik, Regional Managing Director at Visa in Nordics and Baltics.

Card-based embedded lending was introduced earlier this year. With Visa's extensive presence in over 200 countries and territories, the product offers a consistent experience across markets, making it globally scalable. Lunar has become the pioneering partner to introduce this product to the Danish market.

– Lunar will be the first to launch an entirely new type of financing for small businesses in Denmark. It is easy to apply through our app, and you receive a non-binding offer within a few minutes. Additionally, we offer an attractive price guarantee, making our product extremely competitive and supporting our goal of building the best everyday bank in the Nordic region, especially for small businesses, says Anne Marie Kindberg, Chief Revenue Officer of Lunar Group.

During the spring, a selected group of Lunar's Danish customers had the opportunity to test a beta version of the product. The results were positive, with over half of the customers expressing great interest in this financing solution.

– It is fantastic to see such interest in the product. It demonstrates a clear need for innovative financing solutions. The partnership with Visa and Lunar has significant potential and enables us to expand our offering with business loans across markets, says Stella Snickare, VP Froda Embedded.

The product will be available to all Lunar customers in Denmark from the 20th of June. Lunar is building the best everyday bank for private and business customers and aims to make running a business in Denmark easier. The partnership with Visa and Froda aims to increase financing options, particularly for smaller businesses.

* SMV Denmark: https://smvdanmark.dk/analyser/temaanalyser/smver-er-rygraden-i-dansk-erhvervsliv

About Lunar
Lunar is a digital challenger bank with a mission to simplify and enrich people’s financial lives, empower them and put them back in control by building the best everyday Nordic bank. Lunar was founded in Aarhus and currently employs around 450 people in Copenhagen, Aarhus, Stockholm and Oslo. In 2019 Lunar received a banking license and is now one of few banks with a Nordic banking platform. Today more than 700,000 private and business customers across the Nordics use Lunar.

About Visa:
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.co.uk.

About Froda:
Froda was founded in 2015 with a clear idea - to provide small and medium-sized businesses with the same opportunities to grow as large companies. The company's service makes it smooth and affordable for entrepreneurs to invest in their ideas. By digitizing the process, Froda has made it possible to help more businesses with financing tailored to their unique operations and needs. Simply put, it's a smarter business loan.

Today, Froda is one of Sweden's fastest-growing fintech companies and has helped over 50,000 businesses grow. The company is a credit institution covered by the state deposit guarantee and is under the supervision of the Swedish Financial Supervisory Authority (FI).