Fredrika Forssberg was born in Härnösand Municipality in Västernorrland County, Sweden, as the daughter of lektor Olof Fredrik Forssberg and Catharina Margareta Svedbom. She had two siblings, but the elder sister died in first year of life and her younger sister drowned when she was 13. Fredrika Limnell was raised in a literary home and had the ability to cultivate her interests in literature and music. Prior to her first marriage, she was engaged to the poet Anders Grafström, but the engagement was terminated on her initiative. In 1842 in Stockholm, she married her cousin, :sv:Per Erik Svedbom|Per Erik Svedbom, headmaster at Nya Elementar in Stockholm and editor of Aftonbladet with whom she had two sons, William and Erik. After the death of her first husband, she was married in 1858 to :sv:Carl Limnell|Carl Abraham Limnell, a lieutenant in the Civil Engineering Corps and later office manager at the Swedish Royal Railway Board. Together with Carl Limnell, she built Villa Lyran, an exclusive summer villa in the district Bredäng, a suburb in south-west Stockholm. The couple also maintained a winter residence at Gustav Horns palats at Fredsgatan 2 in Stockholm, today the site of the Medelhavsmuseet.
The family business, :sv:Wifstavarfs AB|Wifstavarfs AB, Svedbom-Hellzen provided good yields, and enabled Fredrika Limnell to generously help the women's movement as well as several other social projects, engage in social work, charity and act as the patron of artists. She was interested in the improvement of the political, economical and juridical position of women already in the 1850s, and many women's organizations held their meetings in her salon. In 1853, she co-founded the Stockholms fruntimmersförening för barnavård with Fredrika Bremer. Through her position as a member of the board of directors of several charity organisations, she initiated the foundations of several scholarships for female students. Fredrika Limnell was a central figure in the Stockholm high society and involved in various organisations within charity, feminism and social issues. Through her activity she played an important role in contemporary Swedish cultural life and social development. Limnell was the secretary of the Stockholms fruntimmersförening för barnavård in 1853; a member of the board of directors of the Föreningen för gift kvinnas äganderätt in 1873; a member of the board of directors of the Fredrika-Bremer-förbundet in 1884; a member of the board of directors of the Klara skydds- och arbetarförening ; a member of the board of directors of the Aftonkursen för fruntimmer of Jenny Rosander in 1865; and a member of the board of directors of the hospitalEugeniahemmet. With her good connections, she was a help to many activists within these fields. She participated in the social projects of Fredrika Bremer and Princess Eugenie of Sweden, in the ladies comitté in the foundation of the Swedish Red Cross and during 1884 in the foundation in the pioneer Swedish feminist organisation Fredrika-Bremer-förbundet together with Sophie Adlersparre, Ellen Anckarsvärd, Ellen Fries, Hans Hildebrand and Gustaf Sjöberg. She financed the pioneer feminist magazine Tidskrift för Hemmet published by Rosalie Roos and Sophie Adlersparre. She was the vice chairman of :sv:Eugeniahemmet|Eugeniahemmet, a hospital for sick children founded by Princess Eugenie of Sweden which was named after her. As a person, Fredrika Limnell are described as compassionate, an accomplished hostess with a lively and curious intellect. She was a close friend of Fredrika Bremer, who developed and nourished her great interest in social work. She died on 12 September 1897 in Stockholm.