Swedish fintech Froda has set its sights on the UK market and through a partnership with fellow Swedish fintech firm Treyd, which has been established in the UK for over a year now, it is set to bring financing solutions for inventory purchases to UK merchants.
The lending firm says it has lent out more than 6.5 billion SEK since its inception in 2015 - the company reached a 1.2 billion SEK valuation this autumn. This latest move has Froda operating in five markets now - the UK, Norway, Denmark, Finland, and Sweden.
Treyd finances merchandise purchases, businesses can get discounts, free up working capital for investment in growth, and use cheaper and greener logistics by allowing merchants to sell first and pay suppliers later.
The collaboration enables Froda and Treyd to provide merchants with financing solutions for inventory purchases, offering improved predictability, scalability, and flexibility through the integration of smart credit algorithms, data analytics, and advanced technology.
"With our embedded financing product, we can empower growth-oriented companies to offer their customers flexible financing solutions seamlessly integrated via a simple API. Our partnership with Treyd enables us to scale up and extend our financing solution to a broader network of merchants. Having already introduced the product in Sweden, Norway, and Denmark, we eagerly anticipate its reception in the UK," says Stella Snickare, VP of Financing as a Service at Froda.