Silo Team gets approved for a Tillväxtlån "growth loan" of 500,000 SEK (equivalent to approximately 49,000 USD) from Almi Företagspartner AB, a state-owned innovation organization in Sweden, in addition to a convertible loan of the same amount from Propel Capital, an investment vehicle affiliated with Sting. With this latest funding, Silo Team's total capital raised to date stands at 1 million SEK (equivalent to 98,000 USD).
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We express our gratitude for the favorable terms of the loan, and the extended runway it provides us with will prove invaluable as we continue to execute our growth strategy
— Rasmus Stjernström, CEO at Stair Path AB (holding company of Silo Team Limited).
Silo Team has a very interesting business concept where they have built an advanced tool to facilitate the technical onboarding and offboarding of new developers. The leadership team behind it has demonstrated a clear go-to-market plan and comprehensive research. Almi wishes Silo Team the best of luck in the coming business journey.
— Katarina Reigo from Almi
Propel Capital is an investment vehicle connected to Sting. With more than 170 companies in the portfolio, Propel Capital is Sweden’s most active private pre-seed investor.
Almi offers loans to companies with growth potential and assists in their business development. Almi Företagspartner AB is owned by the Swedish state.