Ark Capital in a €165 million financing deal backed by LocalGlobe and investors from Sweden.

Ark Capital, a Stockholm, Sweden-based startup developing a service providing non-dillutive financial loans for startups, announced that it secured more financing for the company in a deal closed at €165 million ($184M).

The money is mostly debt, and includes a €15 million ($16.5M) equity round led by LocalGlobe and joined by Creandum. The round included financial contributions from angel investors Ilkka Paananen (Supercell CEO), Jacob de Geer (iZettle founder), and Hjalmar Winbladh (ex-EQT Ventures).

The proceeds will be used to building a business.

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 was pre-seeded by local angel investors from Sweden including the iZettle founder Jacob de Geer, EQT Ventures founding partner Hjalmar Winbladh and Patrick Söderlund, (via their newly founded vehicle CoFounded Kapital), who were joined by Sequoia via one of its scouts.