Funding secured by Froda for expansive deployment of small-to-medium enterprise financing throughout Europe
Froda Secures €20 Million to Expand Across Europe
Froda, a Swedish embedded finance fintech company, has raised €20 million in a Series B funding round, led by Stockholm-based Incore Invest. This investment will support Froda's growth strategy, aimed at expanding its embedded finance offerings across Europe.
The funds will be primarily used to drive cross-border expansion initiatives, scaling Froda's embedded finance platform beyond Sweden. Incore Invest's involvement, along with their recently launched €25 million fund targeting European SaaS and fintech companies, will bolster Froda's technological capabilities and market penetration strategies.
The investment comes at a time when Froda is experiencing strong demand from both new and existing partners across Europe. Olle Lundin, co-founder and CEO of Froda, stated that the company is in a pivotal growth phase. He further added that they are excited to have Incore Invest on board as they continue to scale and expand.
Incore Invest is proud to support Froda in its expansion, recognising the company as a standout investment due to its strong business strategy, impressive growth trajectory, and industry-leading partnerships. Incore's CEO, Nicolai Chamizo, sees Froda as a prime example of a business that is not just disrupting markets, but fundamentally reshaping them.
In February this year, Froda expanded its partnership with digital challenger bank Lunar into Sweden, enabling customers to gain access to Froda's embedded SME lending solution. Other notable partnerships include Sweden's Juni, which has formed an embedded finance partnership with Froda.
The additional funding from Incore Invest allows Froda to "double down" on its mission to make financing easier, fairer, and more accessible for Small and Medium Enterprises (SMEs). Froda's platform integrates directly with banks, neobanks, and payment providers, enabling SMEs to access instant financing.
This investment and expansion strategy align with the broader European fintech trend of leveraging embedded finance tech to innovate payments and credit services across borders. As Froda continues to scale, it is expected to play a significant role in shaping the embedded finance landscape in Europe.
- Froda's growth strategy, fueled by €20 million in Series B funding from Incore Invest, aims to expand its embedded finance offerings across Europe using the funds primarily for cross-border expansion initiatives.
- Incore Invest's involvement, along with their recently launched €25 million fund targeting European SaaS and fintech companies, will bolster Froda's technological capabilities and market penetration strategies.
- The investment comes at a time when Froda is experiencing strong demand from both new and existing partners across Europe, including digital challenger bank Lunar and Sweden's Juni.
- The additional funding from Incore Invest allows Froda to "double down" on its mission to make financing easier, fairer, and more accessible for Small and Medium Enterprises (SMEs) through its platform that integrates directly with banks, neobanks, and payment providers.
- This investment and expansion strategy align with the broader European fintech trend of leveraging embedded finance tech to innovate payments and credit services across borders, positioning Froda to play a significant role in shaping the embedded finance landscape in Europe.
