Finnish startups raised 383 million euros in 2016, rising 42 percent from a year ago driven by large investment rounds of M-files, AlphaSense and Swap, industry data showed on Monday.

The news comes in stark contrast with global startup funding – which dived 28 percent in 2016 hit by shrinking investments in fintech startups, according to funding report of Funderbeam.

The Finnish Business Angel Network (FiBAN) and Finland’s Venture Capital Association (FVCA) released on Monday their collected statistical data on investments made into early stage growth companies in 2016 by private investors and VC companies.

Almost all of the growth in Finnish investments can be attributed to foreign investments roughly rising from a year ago level to 216 million euros.

Investments of Finnish VC funds decreased by 16 million euros to 80 million, while the amount of capital invested by Finnish angels increased by 16 million to 53 million euros.

Largest rounds in 2016 in millions of euros:

M-Files – 32

AlphaSense – 24

Swap.com Services – 19

Verto Analytics – 14.2

Visedo – 13.5

Wolt Enterprises – 11

Jolla – 10.4

Canatu – 10

KNL Networks – 9

MariaDB Corporation – 8.3

Comments

comments