What happened: This week, two Embedded Lending companies shared partner updates: German Finmid published detailed insights about its partnership with food-delivery platform Glovo (Finmid). Swedish Froda announced that its collaboration with business tool provider Ageras will be expanded from Germany to Denmark (LinkedIn).
My comment: It seems businesses today have many more places to apply for funding (but not necessarily get) than a few years ago. I mentioned restaurants already in my previous newsletter. Almost every Tier 1 food delivery platform is offering a lending product: Deliveroo, Just Eat Takeaway (through different brands), and Glovo have partnered with companies like Banxware, Finmid, and Youlend (I probably missed a few names, but you get my point). Now that almost every platform (I haven’t found anything from Uber Eats and Foodora in Europe) has chosen its lending providers, it will be interesting to see if they all stick with their providers or if one/some of them is more fitting to the restaurant industry.
Ageras, on the other hand, seems to like working with Froda and is expanding from (the much larger?) German to Ageras’ home market, Denmark. Froda has made several partnership announcements over the past few months, but many were neobank-focused. Technically, even the partnership with Ageras in Germany is through a neobank as Froda is embedded into the freelancer neobank ‘Kontist by Ageras’. But since business tool provider Ageras owns Kontist, I guess you agree that this is relevant for Embedded Finance, even more so in Denmark, where Ageras does not offer a business banking product.
