In recent years, Froda has experienced strong growth and increased its focus on embedded finance. Now, Visma Finance joins as a new partner to Froda Embedded. The collaboration involves the companies jointly launching the new product invoice loans.
Froda's technology platform, Froda Embedded, enables partners to offer business loans and new types of financing solutions to their customers. The partnership with Visma Finance means that small business owners gain more flexibility through a new type of loan product. Unlike a regular business loan, the loan is not paid out to the customer, but instead to automatically pay the invoice.
"With Froda Embedded, we can give more companies the opportunity to offer financing to their customers based on their needs. This contributes to our vision of helping as many entrepreneurs as possible to access financing," says Olle Lundin, CEO and co-founder of Froda.
Visma Finance is one of Sweden's leading actors within invoice financing for small and medium-sized companies. With the partnership, business owners who have received an invoice from a supplier using Visma Finance can split the payment of the invoice through an invoice loan, while the invoicing company does not have to wait for payment.
"We are very pleased with the collaboration with Froda and the opportunities it provides us and our customers. We aim to be a comprehensive solution for small business owners, and Froda has a market-leading product for lending to small businesses that we look forward to offering," says Martin Källum, Chief Product Officer at Visma.
About Froda
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 on embedded financing, and through it, the company has expanded to the Nordics, the United Kingdom, Germany, and Ireland, and entered into partnerships with, among others, Visa, Lunar, and Checkout.com. Froda is a credit market company under the supervision of the Financial Supervisory Authority. Read more: https://froda.se/en
About Visma Finance
Visma Finance AB, as part of the Visma group, leads in solutions for embedded corporate financing in business and financial systems in Sweden. Read more: vismafinance.se
Visma is a leading provider of business-critical software in the cloud, with a turnover of 2.06 billion euros in 2022, 15,000 employees, and 1.7 million customers in Europe and Latin America. By simplifying and automating the work for businesses and organizations of all sizes, we enable a more efficient and prosperous society. Visit us at visma.se.
Posted
April 4, 2024
