Silo Team receives a growth loan from Almi Företagspartner AB & Propel Capital.

December 13, 2022

General News

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).

Read more on CrunchBase.

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

About Propel

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.

About Almi

Almi offers loans to companies with growth potential and assists in their business development. Almi Företagspartner AB is owned by the Swedish state.

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