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Tuesday, November 29, 2022

Swedish ArK Kapital raises €165M to boost startup growth

Swedish fintech company ArK Kapital secured 165 million euros in seed funding led by Local Globe with the participation of Creandum. The round also attracted some angel investors including Hjalmar Winbladh the founding partner of EQT Ventures, Jacob de Geer the founder of iZettle and Supercell CEO Ilkka Paananen.

Stockholm-based startup ArK Kapital defines itself as an entrepreneur-first company and uses artificial intelligence power to help tech companies grow faster and be in the driving seat by providing loans alongside analytics and insights into a company’s business health. The funding will be a huge boost for the startup ecosystem.

ArK Intelligence Machine (AIM) offers great benefits to investors in terms of reducing risks while founders will be able to scan financial options that the data-driven AI-powered platform provides.

CEO and co-founder Oliver Hildebrandt

“Any founder will tell you how difficult fundraising can be: retelling your story and hoping to convince the other side really adds up and results in precious time spent away from a business. We believe that entrepreneurs should retain more ownership of their companies and more transparency is needed throughout the fundraising process. After all, no matter how small, any investor equates to a long-term relationship. This is where the power of an AI-driven approach becomes clear: companies can benefit from tailored financing options based on their potential, backed up by data. As an entrepreneur-first company, we want to offer the best network for founders”.

Henrik Landgren, CPTO and co-founder

“We have seen the rapid evolution of tech, data and machine learning over the years, and how the fastest-growing tech startups are stellar in taking advantage of their own data to optimise their growth. This trend also grows across all industries, where now over a quarter (27%) of respondents in McKinsey’s AI adoption survey now attribute over 5% of their earnings to AI. ArK Kapital was born from the belief that connecting to companies’ raw data and applying state-of-the-art AI modelling enables both the best possible financial products and instant access to AI-powered growth analytics tools for founders. We believe we can enable many more founders to grow way faster with data-driven growth tools and smarter finance products. 

Axel Bruzelius, COO and co-founder

“Most ambitious startup journeys need to start with equity. However, it doesn’t make sense for companies with predictable revenues to be solely reliant on equity as a funding source. It’s very expensive and doesn’t scale well. We believe that, by unleashing loans as a major funding source for European tech companies, we can be a major benefactor of their growth.”

About ArK Kapital

ArK Kapital is a precision financing company that empowers technology businesses to grow faster, enables owners to maintain control, and reduces risk for investors. ArK is founded by a world-class AI technology developer, a six-time-founder, and the veteran banker you always wanted. Too many great companies, with the potential to fuel economic growth and accelerate society, are stuck behind financial barriers of the past. They exist to tear down the financial barriers of the past and unleash the power of entrepreneurship, by inventing the world’s best financing solutions for tech business.

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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