📌 See which startups are growing revenue the fastest at https://getlatka.com Froda (https://www.froda.se/en) generated approximately $57 million in revenue in 2025 and is now running at roughly $80 million annually. Its average loan is only $23,000. Nathan Latka sits down with Froda co-founder Oliver Mohseni to reveal how this startup bank uses retail deposits, automated underwriting, and embedded partnerships to profitably finance small businesses traditional banks often reject. Froda has supported 150,000 small-business ideas across seven markets and built an active loan book of approximately $500 million. Oliver breaks down its 16% average APR, credit losses, machine-learning underwriting, funding history, and the surprising strategy driving its growth. Learn more about Froda Embedded: https://www.frodaembedded.com/ 📅 Weekly interviews every Tuesday. How does a startup bank turn $23k loans into $57m? 00:00 The $57M revenue engine 01:09 How embedded lending works 02:35 Why traditional banks partner with Froda Why lend to businesses traditional banks reject? 04:23 Making money on a $20K loan 05:40 Reaching 150,000 small businesses 06:44 Inside Froda’s $500M loan book How does Froda control the risk? 07:42 Default rates and profitability 08:51 Why Froda charges 16% APR 11:43 Underwriting loans with machine learning How do you fund and scale a startup bank? 12:37 How Froda raised $49M 14:26 Reaching an $80M revenue run rate 15:05 The strategy driving Froda’s growth