– We are part of a payment market where everything is evolving and becoming more digital. That’s why we work in strong partnerships, leveraging the individual strengths of our partners create better products and services together, in this case to digitalize the loan application process and make credit more accessible to SMEs, says Philip Konopik, Regional Managing Director Nordics & Baltics at Visa.
In the new partnership, Froda will offer Lunar’s customers business loans through an embedded lending platform. The payment and repayment are built on Visa’s technical infrastructure, creating a fast and seamless experience for the end-user.
Thanks to Froda’s proprietary tool, which is based on machine learning, the credit assessment takes place in real time and can therefore easily be adapted for use in different markets.
– Many business owners are used to waiting several weeks for a response to their loan application. By then, the investment opportunity may have passed. Our collaboration with Visa and Lunar brings a new level of convenience and efficiency of the world of business lending for SMEs. We couldn’t be more excited about this partnership and look forward seeing this new ecosystem grow, says Olle Lundin, CEO at Froda.