Horten has assisted the Danish Growth Fund in providing financing to Danish growth company, Leapwork A/S, having offices across Europe, Asia and the US. This was the first financing done by the Growth Fund together with Silicon Valley Bank.
The financing was done as a club deal and is the first financing that Silicon Valley Bank has made into Denmark after having set up an office in Copenhagen.
New capital as Venture Debt
The Growth Fund and Silicon Valley Bank is granting new loan capital to further finance Leapwork's growth. The new capital has been obtained by way of so-called venture debt - a secured loan product, which also includes a warrant cover.
For start-up companies, Venture Debt may constitute an attractive alternative to equity financing, among others, because the financing can be obtained without immediately giving away direct ownership interests in the company in contrast to traditional funding rounds.
Leapwork has great potential
Leapwork is a global market leader within its field. Leapwork's has developed systems that enable users at all business levels to automate web and desktop applications with truly codeless automation and has developed an enterprise cloud service solution for purposes of template management and document automation, validated by blue chip enterprise customers on every continent.
Read about the financing: