Froda is a Sweden tech company that helps business owners reach their full potential by making financing easily accessible, on the best possible terms. Oliver Mohseni, its Co-Founder, tells Qorus’ Boris Plantier more about it.
What led to the creation of Froda?
It all started at the SSE Business Lab at the Stockholm School of Economics back in 2015. My co-founders and I realized that difficulty in accessing financing was one of the main concerns for us and other students. We started looking into it and realized that accessing financing was one of the biggest problems for SMEs.
The traditional B2B lending process is slow, manual and takes a lot of soft information in consideration. In order to reach profitability and make the assessment worth the effort, the loan amount has to be quite large. SMEs usually need quite small amounts, which makes them far from the ideal customer for the traditional lender. This has created a €400bn SME financing gap in Europe.
We believed that there had to be a better and more efficient way of doing things. So that’s kind of where it started. We wanted to revolutionize the lending process and we wanted to help as many SMEs as possible get access to financing, and to do so at the best possible terms.
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