What Founders does

Founders is a Copenhagen-based, privately held venture investment and company-building firm founded in 2012. It operates a thesis-driven, "zero to traction" model, writing the first institutional capital into pre-product, pre-market software companies and, in some cases, incubating companies directly. The firm employs 11-50 people and is led by six partners: Ulrik Trolle, Stefano Zorzi, Peter Heering, Sebastian Stockmarr, Joshua Karjala-Svendsen, and Simon Sylvest, who describe their operating principles as "Funders → Founders," "Hunters → Co-creators," and "Quantity → Quality," reflecting a hands-on, concentrated approach rather than broad portfolio deployment.

The firm is highly specialized in two verticals: European healthtech and B2B fintech. Its healthtech thesis targets improved access to care, optimized care operations, AI-empowered front and back office, virtual-first specialized care, and healthtech-fintech convergence. Its fintech thesis targets vertical SaaS combined with fintech, FinOps for underserved industries, embedded credit in software, internet-native mutuals, and B2B payments, grounded in the observation that European fintech penetration of banking revenue is only 1% versus a 4% global average. The active portfolio includes Apylon, Tobi, Reveal, Numina, Light, Sunrise Robotics Corporation, Tola, Hemi, Embla, Sibill, Wawa Fertility, All Gravy, Son of a Tailor, LifeX, and Pleo, spanning intelligent financial infrastructure, AI agents, ERP, digital care delivery, SME cash flow management, and corporate expense management.

Founders generates returns through venture capital economics rather than product sales: it deploys capital via angel tickets, pre-seed investments, or co-incubation, and earns returns from equity ownership in portfolio companies. No revenue figures, fund size, AUM, or pricing terms are publicly disclosed. The firm's most recently documented transaction is leading the €3.8 million seed round for Tangled in March 2026 alongside Bain Capital Crypto and Antler. There is no disclosed parent company, institutional ownership structure, or external funding for the firm itself.

Name

Founders

Legal name

Founders

Website

https://founders.as

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Founders is a Copenhagen-based venture investment and company-building firm founded in 2012. It writes day-zero, pre-product and pre-market capital into European healthtech and B2B fintech startups, working concentrated with a small number of founders to take companies from zero to traction.

Ownership category

akta.pro rank

Product category

Early-Stage Venture Capital

NAICS

Management of Companies and Enterprises (55)

SIC

Investment Advice (6282)

akta.pro primary industry

Venture Studios / Company Builders (FSANAAAH)

akta.pro secondary industry

Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)

Keywords

• Venture capital investing
• Early-stage funding
• Company building services
• Seed-stage investments
• Startup incubation

Headquarters

HQ city

Copenhagen

HQ country

Denmark

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Core offering

Founders is a thesis-driven, early-stage venture investment and company-building firm that invests at the pre-product and pre-market stage in European healthtech and B2B fintech startups. The firm operates with a highly concentrated approach, working with only a few companies at a time and providing hands-on company-building support alongside capital through angel tickets, pre-seed investments, or partner-led incubation.

Product overview

Founders is a venture capital and company-building firm that invests in and builds software companies at the pre-product and pre-market stage. The company is highly specialized in two sectors: healthtech and fintech. Rather than offering a unified software product, Founders operates as an investor and co-creator, working with few companies at a time to help them get from zero to traction. Their portfolio consists of distinct, independently operated companies spanning various verticals including financial infrastructure for healthcare (Apylon), kids savings platforms (Tobi), AI agents for financial services (Reveal), AI platforms for accountants and bookkeepers (Numina), ERP systems for multinational companies (Light), B2B fintech RaaS (Sunrise Robotics Corporation), accounts payable/receivable and cash flow management (Tola), digital care providers for migraine and headache (Hemi) and obesity (Embla), cash flow management for SMEs (Sibill), operating systems for fertility clinics (Wawa Fertility), employee engagement platforms for hourly workers (All Gravy), made-to-order apparel (Son of a Tailor), property management and rental (LifeX), and corporate expense management (Pleo).

Differentiator

Problem solved

Functional benefit

Brands

• Apylon: Intelligent financial infrastructure for the healthcare sector
• Tobi
• Reveal
• Numina
• Light
• Sunrise Robotics Corporation
• Tola
• Hemi
• Embla
• Sibill
• Wawa Fertility
• All Gravy
• Son of a Tailor
• LifeX
• Pleo

Products and services

• Apylon
• Tobi
• Reveal
• Numina
• Light
• Sunrise Robotics Corporation
• Tola
• Hemi
• Embla
• Sibill
• Wawa Fertility
• All Gravy
• Son of a Tailor
• LifeX
• Pleo

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves3 records

Expansion highlights3 records

Direct peers

• Speedinvest: Vienna-based European early-stage VC with sector-focused funds including fintech and healthtech, operating a multi-stage, thesis-driven model comparable to Founders' vertical specialization.
• Antler: Global early-stage investor and founder-builder that runs structured pre-seed residency programs and has co-invested with Founders (e.g., Tangled); directly comparable as a day-zero company-building investor.
• Seedcamp: London-based European pre-seed and seed investor with deep portfolio across fintech and healthtech; comparable stage, geography, and approach to early-stage specialization.
• Point Nine Capital: Berlin-based seed-stage VC focused on B2B SaaS and fintech, with a concentrated portfolio approach and founder-friendly model closely aligned with Founders' pre-seed/seed thesis.
• Cherry Ventures: Berlin- and London-based early-stage European VC backing pre-seed and seed founders with a hands-on, concentrated model comparable to Founders' approach.
• LocalGlobe: London-based pre-seed and seed investor with a similar 'invest early, partner deeply' philosophy and European focus; comparable in stage and operating model to Founders.
• Entrepreneur First: Global talent-first investor and company builder that forms startups from scratch, closely comparable to Founders' pre-product, pre-market company-building approach with hands-on co-creation.

Broad incumbents

• Index Ventures: Major European- and US-headquartered VC with significant healthtech and fintech exposure across stages; broader fund size and stage range than Founders but a key competitor for follow-on capital and founder mindshare.
• Balderton Capital: London-based early-to-growth-stage European VC with deep fintech and healthtech portfolios; comparable in vertical focus but operates at Series A and beyond, making it a likely follow-on investor or competitor for Founders' graduates.
• Northzone: Pan-European VC with fintech and healthtech exposure across multiple stages; broader mandate than Founders but competes for the same founder pool in Northern Europe.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/foundersas
• Facebookfacebook.com/foundersas
• LinkedInlinkedin.com/company/3199273

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments38 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Founders