Fintech Companies Froda and Treyd Join Forces to Provide Merchants Better Growth Financing
- 07.12.2022 09:25 am
Two of Sweden’s fastest-growing fintech companies are joining forces in a partnership to provide easier and more accessible growth financing for retailers that import goods. A unique, simple, and completely digital credit scoring process enables small and medium-sized businesses to quickly get financing with fair terms and rates. The partnership will launch in Sweden and the UK, with the ambition to expand across Europe.
Both Froda and Treyd have grown immensely the past few years, thanks to their financing solutions for growing companies. As opposed to bigger companies, small and medium-sized retailers lack easy access to capital – a critical component for growth. Treyd now becomes the first partner to join Froda’s new solution Embedded financing, an API-based loan engine which through smart credit-scoring algorithms and technical integration increases predictability, scalability, and flexibility in the end-product.
"We share the vision of helping small and medium-sized businesses grow. Our solution, with Froda as a financier, can help even more retailers by letting them sell first and pay the suppliers later, while maintaining working capital for use in operations in order to grow", - says Peter Beckman, CEO at Treyd.
The past year, both Froda and Treyd have seen immense growth by 100 percent and 700 percent respectively. The partnership enables the two companies to scale up operations, as both Froda’s and Treyd’s financing solutions become available to even more retailers through the launch in Sweden and the UK in the first quarter of 2023, with the ambition to expand across Europe.
"With Embedded financing, we can help fast-growing companies offer flexible financing solutions to their customers. Before we received our credit institute license from the Swedish FSA, the lack of smart and flexible capital was stopping us from growing as fast as we wanted. Now, we can help Treyd avoid the same challenge. We are happy to launch this product together with Treyd, as they share our vision to better help small and medium-sized businesses", - says Olle Lundin, CEO at Froda.