The Swedish fintech company Froda has demonstrated strong growth in recent years. Last fall, the company reached a valuation of SEK 1.7 billion, and since its inception, Froda has provided businesses with over SEK 10,5 billion in financing. Now, the company is announcing the next step in its growth journey by entering its seventh market – Ireland. The expansion is facilitated through a partnership with Treyd.
– Our mission has always been to develop a universally applicable financing solution for small businesses. The expansion over the past year is clear evidence that we have made significant progress on this journey. Last year, we assisted entrepreneurs in five different markets in accessing financing. Our ambition for 2024 is to double that impact, says Olle Lundin, CEO and co-founder of Froda.
Over the past years, Froda has focused internationally through Froda Embedded. In 2023, the company entered two new markets and increased its international portfolio by over 800 percent. Froda Embedded serves as a dynamic tech platform, allowing fintech companies and banks to seamlessly integrate and provide growth financing or business loans to their customers.
– With our Embedded financing product, we can help growth companies offer their customers flexible financing solutions through a simple API integration. The partnership with Treyd means that we can help each other scale up and make our financing solution available to many more merchants, says Stella Snickare, VP Froda Embedded.
One of Froda´s partners is fintech company Treyd, which through its “Sell first, pay suppliers later” solution offers a new and simplified take on inventory financing for growing SMEs. With the help of Froda Embedded’s API integration, Treyd can now provide even more flexible financing options to merchants, also in Ireland.
– The partnership with Froda has enabled faster expansion, both geographically and operationally. It has helped even more merchants finance inventory, enabling them to sell first and pay suppliers later, says Peter Beckman, CEO and co-founder of Treyd.
Entering the Irish market means that Froda is now present in seven markets: Sweden, United Kingdom, Germany, Denmark, Norway, Finland and Ireland.
Posted
March 18, 2024
