Hello friends! Axel from Gilion here.
While there’s a lot happening in the world of debt and investing, this week has been all about AI.
Let’s dig in!
So, apparently AI is hot..
There's been no shortage of buzz around AI recently, but BlackRock’s latest move really grabbed attention. Teaming up with Microsoft, they’ve launched the $30B Global AI Infrastructure Investment Initiative. The sheer scale is impressive, but what’s more intriguing is their plan to back it with an additional $70B in debt. It’s a bold, forward-thinking strategy that reflects the same philosophy we follow at Gilion: fund the unpredictable with equity, and the stable with debt. It’s a powerful combo that makes sense when tackling unknowns like AI infrastructure.
Speaking of debt for AI infrastructure, closer to home the Nordics saw their first AI related bond, when Swedish Ecodatacenter listed a 1bSEK bond for investments in an Nvidia powered AI hub in the quaint Swedish town of Falun.
Good times for SME Lending
For a while, being a lending-focused tech company made us feel like outliers in a world of equity-driven startups. But lately, fintech lending is surging. Miami-based Finally just closed a $50M Series B, alongside a hefty $150M in debt financing. And they're not alone—Singapore's Validus, Drip Capital, and microfinance platform Ziina are all riding this wave. What’s fascinating is that both Finally and Ziina started out doing something else entirely—bookkeeping and payments—before diving into lending. It’s proof that debt is becoming more central, even for non-lenders.
My rather informal poll
September has been packed with action in the Stockholm tech scene. At Gilion, we hosted a lunch with 15 investors and a mix of exciting companies, and I’ve been bouncing between events, soaking up the energy. I also took the opportunity to poll 10 VCs about the current investment climate. Most said deal-making is getting easier, with valuations finally aligning to where investors are comfortable.
However, a troubling trend emerged: more deals are falling through due to a lack of LP support. While none of the VCs I spoke with were directly affected, several had seen peers struggle to close deals because the funding simply wasn’t there. It’s a reminder that while things are looking up, challenges remain.
A few last things before we go..
Gilion at Bits and Pretzel
As mentioned before, I’m excited to be a Table Captain at this year’s Bits and Pretzel conference and I’m looking forward to connecting and rubbing elbows with some of the smartest, and thirstiest, founders Europe has to offer.
Also, don’t miss out on my other co-founder, Henrik Landgren, joining a panel at the Investor Summit to discuss “Digitization of the VC industry: What are the current trends” on Monday, 30th at 10.15. Hope to see you there!
Gilion adds 10 new talents to the team
As the saying goes “the more, the merrier”. Gilion has created great momentum and managed to welcome 10 top tier talents from companies like Google, Spotify, SVB, Tink and Swedbank. Check out the full announcement here.
Tiptapp and casavi joining Gilion’s roster
We’re always passionate about highlighting great customers on our website. Over the past week, we added two new ones to our roster with leading German proptech company casavi and a personal favorite I’ve used many times, Tiptapp – the app for moving anything out of your home. Make sure to check out our website for new additions every other week.
Stay tuned as we continue to explore the ever-evolving landscape of technology and its financial ecosystem. And as always, do let us know if there’s anything you’d like for us to cover.
/Axel
