Gilion, the Swedish FinTech firm formerly known as Ark Capital, has successfully closed a €10m equity funding round.
According to Tech EU, the recent funding round drew a mix of veteran and new investors, including notable figures such as Annika Falkengren, former CEO at SEB and Managing Partner at Lombard Odier. New investors in this round included Oscar Werner, the newly appointed CEO of Gilion, along with Göran and Henrik Garvner of SignUp Software, and Andrew Konopelski, a former head at EQT Credit.
Gilion specialises in providing innovative financial solutions to growth-stage companies throughout Europe. Utilising an advanced analytics platform, the company offers customised deal terms for Growth Loans. These terms are uniquely tailored using comprehensive data analysis and machine learning predictions, enabling terms like two-year interest-only periods and a six-year repayment window.
The capital from this latest funding round will be utilised to expand Gilion’s loan offerings and further develop its technology platform. This expansion is part of Gilion’s broader strategy to provide more diverse and flexible financing options to technology companies, especially in the current European venture capital ‘drought’.
This significant investment comes after Gilion reported a 400% increase in revenue year-over-year and an 800% rise in client engagements. Such growth highlights the increasing demand for alternative financing models in the technology sector, which Gilion is well-positioned to meet.
Gilion CEO Oscar Werner commented, “In today’s economy, founders increasingly require diverse funding options tailored to their unique needs. By adding debt to their cap table founders get an additional, and different, funding partner that can reduce dilution of the best companies, and provide funding in times equity owners may not. This is very strategic for all companies.”
“Investment expert Andrew Konopelski also noted, “The pace of innovation that Gilion has shown over the past two years is truly remarkable, and I believe their product suite is a game-changer in debt financing and the wider startup funding ecosystem. With more flexible financing options, tech companies around the globe will be able to access critical programmatic funding that is designed for the specific needs of their business and will fuel innovation in ways that haven’t existed before.”
Previously, Gilion had raised a total of €30m in equity funding across various earlier stages.
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