English Fintech Landscape

Record year for fintech investments in Finland

2021 has been extremely good for Finnish fintech companies in the matter of investments. Of course, the year has been record-breaking in the other Nordic countries as well.

While the number of investment euros in Finnish fintech companies had settled at around 50 million euros annually, the excellent year of 2019 brought it up to 146 million.

The pandemic froze the investments for a while in 2020 entirely, but soon after that, the deal flow got back on track, and beyond.

In 2021 Finnish fintech companies raised an impressive 247 million euros. The main reason for the big increment was AlphaSense’s C round worth $180M (€154M), which was the biggest single round for a Finnish-founded fintech in history. Also Enfuce was busy by closing first €7M in March and then €45M in December.

In addition to the big C-rounds, many early-stage companies raised less than a million in their pre-seed or seed round. Overall the fintech and investment landscape is very diverse.

Funding rounds in 2021

Calqulate €1.5M

Selma CHF 3.5M

Enfuce €7M

Redkik €250K
Front AI €500K
ROI €379K
Tesseract Investment €21M

Arex Markets €8.8M

Zevoy €3.8M
Booksalon €1M
AlphaSense $180M

iconicchain €1M

Enfuce €45M

Besides these, two fintech-related companies Inderes and Lemonsoft did an IPO. Inderes raised €5,7M and Lemonsoft €15M.