Ark Kapital has appointed Annika Falkengren to its Board of Directors. The lender, which secured over €400 million in non-dilutive capital provides European tech companies with access to up to €10 million founder-friendly and non-dilutive loans.
The move sees Falkengren step down from her position as Managing Partner at Swiss banking group Lombard Odier, which she has held for the past six years. Previous President and CEO at SEB back in 2005, Falkengren has spent her career on several boards including Volkswagen, Munich Re and Securitas.
“After joining the acceleration round in 2022, I’m excited to join the board at Ark Kapital and be in a position to provide more support and advice to the Executive team for the next phase of growth of this exciting business,” Falkengren. “The capability that Ark has developed using AI to support credit analysis and assess future financial strength with a high degree of accuracy paves the way for a more modern approach to growth financing and will enable future generations of entrepreneurs to grow and succeed.”
Ark Kapital operates throughout the Nordics and Germany with its sights on other markets in the future. The lender has developed a profitability forecasting platform AIM as part of its financial supports offering for tech entrepreneurs. The firm is backed by LocalGlobe, Creandum and a host of successful tech entrepreneurs including Timo Soininen of Small Giant Games, Ilkka Paananen of Supercell, Sebastian Knutsson of King, Riccardo Zacconi of King, and Frank Strauß, formerly Deutsche Bank and Deutsche Postbank Group, and Hjalmar Winbladh of Epidemic Sound and founding partner of EQT Ventures.
“Annika is one of the most experienced and sharpest minds in banking. We’re both thrilled and humbled to have her join the ArK board.”, says Oliver Hildebrandt, CEO and co-founder at Ark Kapital. “I can’t think of anyone better to guide and assist in our journey to pioneer and establish a new asset class for tech companies – made possible by combining the most traditional form of lending with leading AI capabilities and growth forecasting.”
Lead image: Annika Flakengren. Photo: Uncredited