Ark Kapital, a precision finance firm enabling startups to grow faster through non-dilutive loans, has doubled its equity funding to €30m.
This comes only six months after the company closed one of Europe’s biggest ever seed rounds at €165m.
The round was headed by Annika Falkengren with participation from seed investors LocalGlobe and Creandum and angels such as Supercell CEO Ilkka Paananen, Zettle founder Jacob de Geer, EQT Ventures founding partner Hjalmar Winbladh and founder of Embark Studios Patrick Söderlund.
This brings up the total equity raised to €30m and total capital pool available for founders to lend from to €300m.
Ark claims it offers a new model for tech firms to grow their companies, offering non-dilutive loans and access to ‘world-class’ growth analytics.
Founders are able to plug into Ark’s machine learning platform with all of their growth-related accounts and get access to 5-year forecast in return, which allows them to access customised funding.
Ark’s financial product suite currently consists of a transformative, large growth loan that spans between €1-€10m, lasting up to seven years, with repayments not starting for two-to-three years. The second loan product in the portfolio allows founders to get instant access to the money they’ve earned through various marketplaces or app stores, allowing reinvestment into growth peaks. Both products are fully non-dilutive.
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