Froda strengthens management with new CFO and CTO – brings in profiles from Qliro and Spotify

Froda strengthens its management team with the recruitment of Carl Löfgren as new CFO and Dan Hyyrynen as new CTO. Both take up their roles at a time when the company continues its expansion in the European market and scales up its embedded finance platform.

Carl Lofgren most recently comes from the role as CFO at Qliro. Prior to that, he was Investment Manager at Investor AB with responsibility for their public holdings in the financial sector, and has over ten years of experience as a management consultant at Bain & Co and Oliver Wyman. He has also served on Nasdaq's Nordic Advisory Board for almost six years.

Dan Hyyrynen comes most recently from Epidemic Sound and was previously CTO at SEB Embedded, a unit within SEB that offers Banking-as-a-Service, financial services via API for third-party actors without a banking license. He has also led Commercial Finance technology at Volvo Cars with a team of 150 engineers, and spent nearly six years at Spotify where he built and led the team behind the Spotify Web API that handles billions of calls every day.

– We want all small businesses in Europe to have access to financing, and to do so we need to build a world-class organization. Carl and Dan are leaders who have navigated exactly the phase and context we are now in, says Olle Lundin, CEO and co-founder of Froda.

With a loan portfolio of SEK 5 billion and a presence in seven European markets, Froda has grown to become one of the continent’s leading embedded finance platforms. Over the past year, the company has signed several new partnerships with banks, fintech companies and other players in the Nordics, the UK, Ireland and Germany. Earlier this year, Froda entered into its first partnership with a traditional major bank, Norway’s SpareBank 1 Østlandet.

– Few companies combine the growth rate and regulatory complexity that Froda does. I look forward to building on a strong foundation, together with the skilled finance team, says Carl Löfgren, CFO at Froda.

– What attracted me to Froda is precisely the phase we are in. We have proven the product and established ourselves in Europe, and now it is time to take what has been built and roll it out on a much larger scale. That is exactly the type of challenge I want to take on, says Dan Hyyrynen, CTO at Froda.

In connection with the recruitments, Jonathan Johansson, who has been handling the role of interim CFO in parallel, will return to his role as Head of Business Analytics. Roger Forsberg, who has contributed to building Froda's technical platform since 2023, left the role as CTO at the turn of the year.