FinTech: Froda And Ageras To Partner On SME Financing In Europe

November 8, 2023 | FinTech, News

“Our surveys show that 68 percent of small businesses are looking for financing, but most are unable to obtain it via traditional banks.” – Froda

Froda, a rapidly growing Swedish fintech company, and Ageras, a prominent provider of software for banking, accounting, and administration, have forged a strategic partnership. Froda’s mission is to facilitate access to financing for small businesses, having already assisted over 50,000 businesses. Ageras, on the other hand, serves more than 300,000 SME customers across Europe in various financial and administrative capacities.

This partnership signifies a significant step in Froda’s international expansion journey. It aims to empower European small and medium-sized enterprises (SMEs) by providing them access to financing through Froda Embedded. SMEs constitute a substantial portion of Europe’s businesses, employing millions and contributing significantly to the continent’s GDP. However, access to financing has been a significant hurdle, with many of them unable to source it from the traditional banking system.

According to Olle Lundin, CEO of Froda, the company’s goal is to support as many small business owners as possible in accessing financing. Ageras shares this vision and intends to expand its business financing offerings with Froda’s assistance.

Through this partnership, SMEs will be able to leverage their financial, banking, and accounting data to secure credit approvals quickly. Ageras’ existing products, such as Billy, Zervant, and Kontist, will benefit from this collaboration, expanding their financial services range.

Froda Embedded, which launched in 2021 and has already seen substantial growth, is expected to experience further expansion due to this partnership. It will allow Froda to reach and assist more European SMEs with their financing needs.

Related Story:  European Businesses Get Loans Paid Faster Via Three-Way Collaboration Between Froda, Visa, And

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