# Silo Team receives a growth loan from Almi Företagspartner AB & Propel Capital.

## December 13, 2022

*General News*

Silo Team gets approved for a Tillväxtlån "growth loan" of 500,000 SEK (equivalent to approximately 49,000 USD) from Almi Företagspartner AB, a state-owned innovation organization in Sweden, in addition to a convertible loan of the same amount from [Propel Capital](https://sting.co/investors/propel-capital/), an investment vehicle affiliated with [Sting](https://sting.co/). With this latest funding, Silo Team's total capital raised to date stands at 1 million SEK (equivalent to 98,000 USD).

Read more on [CrunchBase](https://www.crunchbase.com/organization/silo-team).

> We express our gratitude for the favorable terms of the loan, and the extended runway it provides us with will prove invaluable as we continue to execute our growth strategy  
> — Rasmus Stjernström, CEO at Stair Path AB (holding company of Silo Team Limited).

> *Silo Team has a very interesting business concept where they have built an advanced tool to facilitate the technical onboarding and offboarding of new developers. The leadership team behind it has demonstrated a clear go-to-market plan and comprehensive research. Almi wishes Silo Team the best of luck in the coming business journey.*  
> — Katarina Reigo from Almi

**About Propel**  
Propel Capital is an investment vehicle connected to Sting. With more than 170 companies in the portfolio, Propel Capital is Sweden’s most active private pre-seed investor.

**About Almi**  
Almi offers loans to companies with growth potential and assists in their business development. Almi Företagspartner AB is owned by the Swedish state.

We are on a mission to bring **teams** closer together

12% of employees think their employer does a great job of onboarding new employees  
[Gallup](https://www.gallup.com/workplace/235121/why-onboarding-experience-key-retention.aspx#:~:text=Gallup%20finds%20that%20only%2012,great%20job%20onboarding%20new%20employees.)

51% of employees say they’d go “above and beyond” if they were given a good induction and onboarding  
[Hays](https://www.hays.com.au/press-releases/HAYS_1896743)

22% of companies do not have a formal onboarding process  
[Harvard Business Review](https://hbr.org/2022/04/onboarding-can-make-or-break-a-new-hires-experience)

70% increase in productivity if a well-structured onboarding program is in place  
[Quale](https://www.qualee.com/blog/19-mind-blowing-onboarding-statistics#:~:text=22%25%20of%20companies%20have%20no,program%20have%20better%20assimilation%20rates.)

Companies with great onboarding programs see [2.5% more revenue growth and 1.9%](https://image-src.bcg.com/Images/BCG_From_Capability_to_Profitability_Jul_2012_tcm9-103684.pdf) of the profit margin as against companies with poor onboarding processes. The former also leads to higher productivity levels and faster knowledge acquisition rates.