Swedish embedded finance player Froda has secured €20 million in Series B financing to fuel its European expansion and provide more SMEs with financing.
Proceeds from the round, led by Incore Invest, will be poured into scaling Froda’s operations, onboarding new embedded finance partners and expanding into additional European markets.
Froda's platform integrates directly with banks, neobanks and payment providers, enabling SMEs to access instant financing at the point of need.
The company saw year-over-year customer growth of 30% in 2024 and has recently formed partnerships with Mimo in the UK, Lunar in the Nordics, and Kontist in Germany.
"With Incore Invest’s backing, we can accelerate our growth and scale our partnerships to continue supporting SMEs with the financing they need," says Olle Lundin, CEO, Froda.