In April 2025, Froda closed a €20 million Series B round led by Incore Invest and this latest investment underlines our continued confidence in Froda’s mission. Froda is a Stockholm-based fintech offering seamless financing for SMEs and embedded lending to partners. The company provides fast, flexible debt financing to SMEs directly and through embedded lending solutions that partners serving SMEs can integrate into their own platforms. Its lending decisions are powered by real-time cash-flow analysis of SMEs’ bank accounts, creating a faster, more data-driven financing experience.

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Froda is addressing a large market gap by offering more accessible credit to small businesses, offering fair terms and a smooth, user-friendly experience. The company’s growth has been impressive. Froda reported roughly 40% year-over-year growth in its Net Interest Income in 2024 and continues adding new embedded-finance partners at a steady pace.

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Nicolai Chamizo, Founder and CEO of Incore Invest, weighed in on the partnership, “Froda is a prime example of a company reshaping its market and their strong business strategy, impressive growth trajectory and industry-leading partnerships make it a standout investment for Incore." He further added: “Froda stands as a flagship example of the future of fintech and investment growth within the Nordic region, reflecting the kind of high-potential fintech that Incore is looking to support. We share this confidence in Froda’s vision and look forward to supporting the team as they scale their financing solutions across Europe.”

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This additional investment reflects Incore’s conviction in Froda’s vision and its role in transforming SME financing. Together, Froda and Incore aim to continue driving meaningful change for SMEs across Europe.

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