Through the Froda Visa agreement, other fintechs, banks, and neobanks will be able to offer business loans to their consumers by gaining access to Froda's card-based embedded lending offering. These kinds of services are essential when the economy is struggling since it becomes harder to get financing.

The companies' joint goal will be to implement an embedded loan solution based on cards. While it offers more speed and convenience, card-based financing functions similarly to a traditional business loan for small and medium-sized businesses. It is extensively available in all markets because of Visa's vast global card infrastructure network. The solution gives banks and other fintechs the chance to grow and diversify their product offerings.

Card-based embedded lending has been accessible since June and is currently offered in Germany through Kontist, a division of Ageras Group, and Denmark through Lunar. The partnership intends to start a bold expansion program throughout Europe. Finding new partners and markets is part of the goal. This growth is consistent with the businesses' dedication to offering SMBs throughout Europe creative and easily accessible financial solutions.

extending oneself into new markets

"The expanded alliance is a significant step toward changing the European SMB scene. According to Philip Konopik, regional managing director of Visa for the Nordics and Baltics, "Our combined efforts to promote the card-based embedded lending solution highlight our commitment to fostering innovation for our clients and partners, so that they can in turn support the growth of small and medium-sized enterprises."

This is a significant accomplishment for both us and SMBs throughout Europe. We are thrilled with our current accomplishments and optimistic about the future benefits of our creative approach to SMB lending. Olle Lundin, CEO and co-founder of Froda, states, "Our plans for expansion throughout Europe show our commitment to reaching more SMBs and promoting economic empowerment through accessible financing solutions."

We have successfully gone live with two partners in two markets since the product's launch in June, and the industry has shown a lot of interest. Stella Snickare, VP of Froda Embedded, states, "We look forward to bringing the product to more markets and giving more entrepreneurs access to financing."