Froda takes in SEK 20M to expand its loan platform in Finland.

Sweden Investments 03 October 2017
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Froda, a Stockholm, Sweden-based startup managing an online platform for facilitating loans to small and medium businesses, closed a SEK 20M ($2.5M) investment round.

The money comes from a range of local investors, including Svea Ekonomi, and will be used to expand the company services to Finland.

Froda, founded in 2015 by CEO Oliver Mohseni under the name Monetise Capital, estimates it will facilitate loans totalling SEK 200M ($25M) in 2017, a 4x increase from 50M in 2016 and from 8M in 2015.

Prior to this deal, Froda brought in about $2M in outside equity, from investors including Mikael Walther and Nicklas Storåkers.