Fuels Capital scales asset-backed lending for entrepreneurs

By Milan Rojan

Swedish private credit firm Fuels Capital has expanded its asset-backed lending capacity to €25 million as it targeted entrepreneur-led and growth-stage businesses across Europe.

The company has said the increase was designed to support firms that fall outside traditional funding channels, including bank lending, private credit funds and bond markets. Fuels Capital has offered financing secured against assets such as real estate, financial assets and unlisted shares.

Gabriella Sahlman, Managing Partner & Co-Founder at Fuels Capital, said, “Private credit is booming, but the companies that need it most are still being turned away. The market has concentrated around private-equity-backed, cash-flow-based deals. Entrepreneurs, the ones building Europe’s industrial base, don’t always fit that template. Without capital at the right moment, growth stalls, or founders are forced to surrender equity they should never have had to give away. That’s the gap Fuels Capital was built to close.”

The move has come as the firm pointed to a financing gap in Europe’s mid-market segment. Fuels Capital has cited market analysis showing that a sizeable share of companies does not qualify for mainstream debt funding, while the wider debt finance shortfall has remained significant.

Founded in 2025 and based in Stockholm, Fuels Capital has operated as a business unit within 0TO9. The company has said it has financed more than 50 businesses over the past year and has generated €8m in annual recurring revenue.