ArK Capital announced fresh €15 million in an equity round led by Annika Falkengren.

Ark Capital, a Stockholm, Sweden-based startup developing a service providing non-dillutive financial loans for startups, completed a new equity financing round closed at €15 million ($14.8M).

The money is was raised from investors led by Annika Falkengren with participation from all seed investors, including LocalGlobe, Creandum and angel investors iZettle founder Jacob de Geer, EQT Ventures founding partner Hjalmar Winbladh and Patrick Söderlund, (all three via CoFounded Kapital), Ilkka Paananen (Supercell CEO) and Timo Soininen of Zynga-acquired company Small Giant Games.

Ark Capital, founded in 2021 by Axel Bruzelius, CEO Oliver Hildebrandt and Henrik Landgren, works for developing an operation providing loans to European startups in the range of €1m-10m, sold asn a non-dilutive complement to venture capital. The firm targets early stage, tech-driven companies predicted to grow super-fast but not yet profitable.

Prior to this round, Ark raised €165 million, mostly debt, in 2022 and was pre-seeded by local angel investors from Sweden.