Stockholm, Sweden-based tech financing company ArK Kapital raised EUR 15 million. The company announced the follow-on funding on September 5, 2022. Banking icon Annika Falkengren led the financing for the firm. Meanwhile, seed investors, including LocalGlobe, Creandum and angel investors such as Supercell CEO Ilkka Paananen, Zettle founder Jacob de Geer, EQT Ventures founding partner Hjalmar Winbladh, founder of Embark Studios Patrick Söderlund joined in the investment.
Ark Kapital also received investment from Timo Soininen of Zynga-acquired company Small Giant Games as a new investor.
The company doubled its equity funding from EUR 15 million to EUR 30 million. So far, the total amount available to the founders now stands at EUR 300 million. Moreover, the VC firm raised the recent funds at a valuation three times higher than the previous seed round.
Purpose of funding for Ark Kapital
The company intends to use the additional funding to onboard more clients. In order to achieve this, Ark Kapital seeks to enhance its capacity.
In March, the company raised EUR 165 million. Later in April, the venture capital firm secured EUR 150 million in debt facility.
What the founder has to say
CPTO and co-founder Henrik Landgren said, “We are gunning to become the leading predictive platform for tech companies, and this money will be put towards getting the best machine learning talent from Google, Spotify and the rest. What all of these people are doing at a single firm, we invite them to do for every single tech firm in the world.”
What the investors have to say
Annika Falkengren, the lead investor in the acceleration round, said: “I’ve worked in banking my whole life, and the lack of tech lending has never been due to lack of will. The problem has been forecasting startup risk and financial strength, something you could argue the whole capital market is bad at. ArK has come leaps and bounds in this regard, and their success will not just change debt financing but tech funding as a whole. I see this is an investment into the next chapter in finance and funding.”
Jacob de Geer further added, “Founders who have gone through an extreme growth journey know the importance of protecting equity. With large ownership comes control, and with control, you get to keep the joy of building. I’m glad to be part of delivering the new era of funding to the next generation of founders.”
In addition, Hjalmar Winbladh said, “To raise an oversubscribed round in just a few days from some of the most reputable investors is a strong testament to the whole ArK team, its ability to execute and the market demand for its groundbreaking lending product to Scale-ups.”
About the company
Oliver Hildebrandt (CEO), Axel Bruzelius (COO), and Henrik Landgren (CPTO) launched Ark Kapital in 2021. The VC fund focuses on early-stage, fast-growing tech-driven companies. The company leverages banking and artificial intelligence. It operates as a data-driven precision finance company that enables technology companies to grow faster and smarter through long-term loans.
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