Funding acquired by Froda for the extension of small and medium enterprise finance through Europe via Series B investment
Embedded finance fintech Froda, headquartered in Sweden, has recently secured a significant €20 million investment aimed at accelerating its expansion across Europe[3]. This funding round is focused on scaling Froda’s embedded finance offerings beyond its Nordic base into broader European markets.
The investment highlights strong investor confidence and is part of a broader trend of fintech firms expanding embedded finance capabilities in Europe, supporting innovation in payments and credit infrastructure. While the specific strategic roadmap for Froda's European expansion was not explicitly detailed, the funding indicates a push towards wider market penetration, likely leveraging existing technology to address diverse European regulatory and market conditions.
The Series B round received ongoing backing from the majority of Froda's existing investors, with Incore Invest providing additional support. Incore Invest recently launched its second fund, Incore Invest II, dedicated to accelerating the growth of fintech, SaaS, and embedded finance companies.
Froda's embedded finance platform integrates directly with banks, neobanks, and payment providers to enable SMEs to access instant financing "at the point of need". The company reported 30% year-over-year customer growth in 2024 and signed one new embedded partner per month.
One of Froda's notable partnerships is with digital challenger bank Lunar. In February this year, Froda expanded its partnership with Lunar into Sweden, allowing customers to gain access to and benefit from Froda's embedded SME lending solution.
Nicolai Chamizo, the founder and CEO of Incore Invest, expressed his confidence in Froda, stating that it is a prime example of a business that is not just disrupting markets, but fundamentally reshaping them. Olle Lundin, the co-founder and CEO of Froda, expressed his excitement about the new investment and the opportunities it presents for expanding Froda's offerings across Europe.
This investment marks a key development in Froda’s growth trajectory, as it continues to scale and expand its embedded finance solutions across Europe. Further reading on Froda's recent partnership with Sweden's Juni can be found here.
[3] Source: Various company press releases and news articles.
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