Froda and Juni are two of Sweden's leading fintech companies. The two companies are now joining forces, entering into a partnership as Juni joins Froda Embedded. The partnership represents a long-term investment in embedded finance that begins with Juni integrating Froda's technical platform and utilizing Froda's capital pool.
Both companies share the vision of helping as many entrepreneurs as possible gain access to financing on favorable terms. Europe alone has more than 25 million SMEs, but access to financing remains one of the biggest obstacles for smaller businesses looking to grow. The partnership aims to make financing more accessible, thereby enabling more businesses to invest and grow.
"The journey Juni has taken and how far they've come in such a short time is truly impressive. I've followed the company since its inception, so it's especially exciting that they have chosen Froda Embedded to continue scaling, and that Froda can be a part of their growth journey," says Olle Lundin, CEO and co-founder of Froda.
Since the launch of Froda Embedded in 2021, Froda has become one of Europe's leading providers of embedded finance solutions aimed at businesses. With Froda's technology platform, partners can either integrate Froda's services and offer them to their customers, or use Froda's funding to build their own financing solutions. Froda's license also makes it easy for partners to both increase lending and scale quickly across Europe.
The neobank Juni has come along way since its start in 2020 with the ambition to create the global business bank of the future. Juni gives businesses and finance teams modern banking solutions, spend management, financing and accounting on one powerful platform and app. With low FX fees and flexible financing Juni wants to make it easier for businesses to operate on a global scale. The company has plans to apply for a bank license for further expansion.
"Froda's license and expertise in SME lending make them the perfect partner for us. We wanted 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 businesses," says Samir El-Sabini, CEO and Co-founder at Juni.
Both Froda and Juni were founded with the vision of helping entrepreneurs through various financing solutions. The collaboration initially means that Froda becomes a financing partner, giving Juni the opportunity to use Froda's capital pool for its services through embedded financing.
Posted
September 4, 2024
