A power converter including a multi-level topology is presented. The power converter includes a charge pump, a controller, an output load and an inductor. According to one aspect, the charge pump includes a multi-level topology. According to another aspect, the power converter includes a switch which is connected across the inductor. According to another aspect, the multi-level topology includes a plurality of series-connected switches that are controlled to close or open via the controller. The switches are arranged in a high-side or low-side switchable path of the multi-level topology. During operation in a first state, only one switch of the high-side is closed, during operation in a second state, at least one of the switches in the low-side is open, and during a transition from the first to the second state, all of the switches in the low-side are open.