Vision Finland's Partners
SKAK Banner Thai-Finnish Chamber of Commerce Logo FBC Singapore Logo NordCham Indonesia Logo NordCham Philippines Logo
JMT Solutions banner Seven Stones Finland banner Asian Insiders Banner FTA Banner
Economy Finland Investment News

Finnish Startups Face Funding Dip

headway 5QgIuuBxKwM unsplash

Last year, Finnish startups experienced a significant reduction in funding, down from the previous year’s record highs. According to the Finnish Venture Capital Association (FVCA), total growth funding for Finnish startups was approximately €871 million, a sharp decline from the €1.7 billion raised in 2022.

This downturn in startup funding is primarily due to a reduction in the size and number of large investment rounds. For example, Hostaway, a leading provider of vacation rental customer relationship management software, secured the largest funding round of 2023 with €162 million. This contrasts starkly with the €440 million and €500 million rounds secured by Wolt in 2021 and Relex in 2022, respectively. The decrease was particularly pronounced in foreign investments, which plummeted by 58%, although domestic investments also fell by 17%.

All in all, 2023 was a robust year for Finnish venture capital funds, which raised a total of €507 million in new capital, near record levels. Notable contributions included Finland’s largest venture capital fund Lifeline Ventures, which amounted to €150 million. New entrants like Greencode Ventures, Kvanted, and Failup Ventures also marked their debut.

Read the full article by clicking HERE.

Topics

There are currently no events.