What’s the best way to fund a startup? Should you chase rapid, VC-backed scaling or grow organically with lower risk? Bootstrapping has released the Funding Guide for Founders that explores the decisions behind some of the regions’ most intriguing startups, revealing the trade-offs that shaped their success.
From KEEPR, which raised less then € 1 million (6.5 million DKK) in small rounds while prioritizing stability over explosive growth to Landfolk, which tripled revenue in 2024 and secured over € 10 million (77.5 million DKK) Series A after proving its scalability, the guide uncovers the high-stakes choices founders face.
“We are not a 100x case. Our strength lies in lower risk and more stable growth — and that requires investors who understand that,”.
shares Emma Lindroth CEO and co-founder at KEEPR
Other insights are from startup such as Labster, started with EIFO loans instead of equity to maintain control before later raising over € 90 million (700 million DKK) in venture capital. Others, like Worksome, the initial decision was to decline venture capital, and CEO and shares how this choice could otherwise have been fatal for the company.
“We were offered valuations of 50-60 times our revenue. But we would be dead today because those valuations were so astronomically high. (…) The type of investors we brought on board did not have the same eager urge as venture funds to scale quickly and ultimately push for an exit.”
shares Worksome co-founder Morten Petersen.
Different ways to Exit
The guide also talks about how different strategies apply for making an exit. For someone like Michael Stadi, CEO and founder of FOM Technologies, an IPO was the only right choice.
“For us, as a small Scandinavian tech company with a global customer base, being listed on Nasdaq became a mark of quality. It removed several obstacles for us and was one of the main purposes of going public.”
shares Michael Stadi
Another route is an acquisition strategy. In the case of Cookie Information, this involved Kirk Kapital, which had the patience and confidence in the project.
“The acquisition of Piwik Pro was made possible partly because we sold 40% in a secondary transaction to Kirk Kapital, and partly because we secured a loan from EIFO for the acquisition of Piwik PRO — a company that was more than twice our size,”
shares CEO and founder Karsten Rendemann.
This isn’t about one-size-fits-all advices. It’s about timing, strategy, and the bold or cautious moves that define a company’s journey. Which path would you take? Check out the Funding Guide for Founders over at Bootstrapping.dk to see how different founders navigated the journey.
