Finnish Vaadin, an open source company building components and tools for web application developers, raised more than 5 million euros from Verdane Capital to further boost its investments into product development and marketing.

“We are very pleased to team up with Verdane and further strengthen our position in the growing US and European markets,” said Vaadin CEO Joonas Lehtinen.

Vaadin raised in January $6 million from Finnish Industry Investment and Swedish eEquity. have invested $6 million in

“We consider Vaadin to represent some of the strongest software expertise in the world. We think we can help this outstanding team in their ambitious growth plans, by building on Verdane’s software knowledge,” said Janne Holmia from Verdane Capital Advisors.

Verdane is a Nordic private equity manager focusing on investments in technology-enabled growth companies. Verdane raised its latest fund, Verdane Capital IX, this summer with an investment of 3 billion Swedish crowns.

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