08.02.2024 – 09:00
Kontist GmbH
Berlin (ots)
Kontist is revolutionizing the German corporate credit market. Together with Froda, a Swedish financial service provider for embedded finance solutions, the Berlin FinTech is providing one of the simplest digital company loans in Germany for freelancers and solo self-employed people.
Self-employed people who have had a Kontist business account for at least six months can now receive a company loan with just a few clicks. By integrating Froda’s embedded finance solution, business loans of up to 50,000 euros are offered.
Simplified financing solution for the self-employed
Given the fact that more than 3.88 million people (as of 2023) are self-employed in Germany, the lengthy and arduous process of granting loans holds enormous potential for innovation. Thanks to the merger of Kontist and Froda, Kontist customers can apply for their loan directly in the app and receive an immediate payout. Thanks to Froda’s card-based embedded solution, the loan is repaid in weekly installments via the bank account. There is no need for any kind of bureaucracy or the need for additional service providers to take out a loan. For example, a SCHUFA report is not required to demonstrate creditworthiness.
Digitalization and innovation in lending
“I clearly see the need to fundamentally renew and digitize the bureaucratic process of lending in the German market. By making better use of customer data, we can provide support where traditional banks generally cannot,” says Martin Hegelund , co-founder of Ageras, the company behind Kontist.
The developed solution analyzes bank transactions to automatically calculate loan conditions and available loan amounts. If the conditions and the available loan amount are acceptable to the user, the applicant only has to accept the loan with one click.
“Our solution enables automatic withdrawals via Visa card, reducing processing time to seconds instead of several banking days. This can be a game-changer for entrepreneurs looking to invest in their business, especially in difficult times like now. The launch of this product with Kontist in the German market is really exciting,” says Olle Lundin, co-founder and CEO of Froda.
By using Froda’s embedded finance solution, Kontist can automate the loan application process, thereby granting loans to self-employed people more quickly and reducing processing costs.
About Kontist:
from bone, the 2022 from the Danish Ages was taken over, offers, in addition to the actual bank account, services such as accounting and tax solutions. As part of the Ageras Group, Kontist is affiliated with other companies such as Tellow, Billy, Salary and Zervant. Together, Kontist strives to transform the way freelancers and solo self-employed people achieve success in the fast-paced business world.
About Froda:
Fraud was founded in 2015 with a clear mission – to democratize access to finance and provide small and medium-sized businesses with the same growth opportunities as large companies. Through digital processes and technological innovations, Froda has shortened the lending process from months to minutes, making it easy for entrepreneurs to invest in their ideas.
Today, Froda is one of Sweden’s fastest-growing tech companies, with a valuation of SEK 1.7 billion and well-known investors such as Karl-Johan Persson (H&M), Nicklas Storåkers (PriceRunner) and Victor Jacobsson (Klarna) among its owners. In 2021, Froda launched a strategic initiative in embedded finance, through which we expanded into the Nordics, Germany and the UK and partnered with Visa, Lunar and Checkout.com, among others. Froda is a credit market company regulated by the Swedish Financial Supervisory Authority.
Press contact:
Kontist by Ageras
Martin Hegelund
Boxhagener Str. 77-78
10245 Berlin
Original content from: Kontist GmbH, transmitted by news aktuell
2024-02-08 08:39:51
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