Stockholm-based fintech Froda and Copenhagen-based Ageras have forged a strategic partnership to enhance financing opportunities for small and medium-sized enterprises (SMEs) across Europe. Froda, known for assisting over 50,000 businesses with financing, is teaming up with Ageras, which serves more than 300,000 SMEs, to offer quicker and more accessible financing through Froda Embedded. The collaboration aims to address the common issue of SMEs struggling to secure financing despite being a significant economic force in Europe. By leveraging financial, banking, and accounting data for rapid credit approvals, this partnership supports Froda’s international expansion while contributing to the growth of European SMEs and the region’s overall economic development.
“Our vision from the outset has been to help as many small business owners as possible access financing. Through our partnership with Ageras, we can support even more small businesses in Europe with financing,” says Olle Lundin, CEO and co-founder of Froda.
In Europe, small and medium-sized enterprises (SMEs) make up 99 percent of all businesses, employ 100 million people, and contribute to over half of Europe’s GDP. Despite this, access to financing is one of the biggest obstacles for small business owners in Europe that want to grow their business. Solutions that make financing accessible to small business owners are therefore crucial for Europe’s growth.
“Together with Froda, we can scale up our business financing offering and provide our customers with an even broader range of financial services, says Martin Hegelund, co-founder of Ageras and continues, “Our surveys show that 68% of small businesses are looking for financing, but most are unable to obtain it via traditional banks. With Froda, we enabled access to ‘smart’ funding by letting our customers use their own financial, banking and accounting data to get a credit approval in as little as 7 seconds.
Ageras is a leading provider of software for banking, accounting, and administration for small businesses in Europe. The company has more than 300,000 active customers using its products such as Billy, Zervant and Kontist. The partnership with Froda enables Ageras to expand its business financing offering.
“Our Embedded platform makes it easy for other fintech companies to expand internationally and scale their operations. The partnership with Ageras marks an exciting new phase for us,” says Stella Snickare, VP of Froda Embedded.
Froda Embedded was launched in 2021 and has been a success story since its inception, contributing significantly to Froda’s growth. Over the past year, the business area has grown by 100 percent, increased the number of partners from three to nine, and expanded from three to five markets. Through the partnership with Ageras, the reach is further expanded, and Froda will be able to reach and assist more European small businesses with financing.
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Read the orginal article: https://arcticstartup.com/froda-and-ageras-partner/
