Founders

Early-Stage Venture Capitalfounders.as

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.

Company typePrivate
Founded2012
HeadquartersCopenhagen, Denmark
Headcount11–50
GTM typeB2B
OfferingServices

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.

Founders firmographics

Firmographics

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

Founders industry classification

Industry

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

Where Founders is headquartered

Location

Headquarters

HQ city: Copenhagen
HQ country: Denmark
HQ region: Europe

Markets served

Founders business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Technology or R&D

Founders product offering

Product offering

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

Companies that use Founders

Customer profile

Segments3 records

Ideal customer profiles1 record

Founders technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Founders partnerships and signals

Strategic signal

Recent moves3 records

Expansion highlights3 records

Founders competitors and assessment

Company assessment

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

Founders financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Founders leadership team

Management profile

Number of profiles

Profiles9 records

Founders funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

Founders M&A and investment

M&A and investment

M&A

Investments38 records

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

Frequently asked questions about Founders

What does Founders do?

Is Founders a public or private company?

Founders is a private company. It is classified as management employee owned and is currently operating.

When was Founders founded?

Founders was founded in 2012. It employs 11 to 50 people.

Where is Founders based?

Founders is headquartered in Copenhagen, Denmark, in the Europe region.

Who are Founders's main competitors?

Direct peers on record are Speedinvest, Antler, Seedcamp, Point Nine Capital, Cherry Ventures, LocalGlobe and Entrepreneur First. Broad incumbents are Index Ventures, Balderton Capital and Northzone.

Does Founders have an API?

No public API is recorded for Founders.

What industry is Founders in?

Founders's product category is Early-Stage Venture Capital. Its primary akta.pro industry code is FSANAAAH, Venture Studios / Company Builders, with a secondary code of FSANAAAA, Early-Stage Venture Capital (Pre-Seed/Seed). Its NAICS code is 55 and its SIC code is 6282.