Helsinki-based startup Inven has collected €1.5 million in a seed funding round which is the largest ever seed round raised by a team of founders all under 25 in Finland. The round was led by Lifeline Ventures, the VC behind Finnish success stories such as Wolt, Smartly, and Supercell. The startup offers a financial data platform that harnesses AI to help M&A professionals find acquisition targets. Inven intends to utilize the funds to expand its team and enhance customer acquisition efforts.
Inven, founded in 2022 by three young entrepreneurs, is on a mission to revolutionize the financial industry by leveraging the latest AI and NLP models to streamline the tedious and time-consuming tasks faced by M&A professionals, freeing them up to focus on more critical work.
Inven’s founders Ekku Jokinen, Niilo Pirttijärvi, and Tommi Kupiainen saw this problem firsthand in their and their friends’ work at private equity firms, investment banks, and big consulting companies such as McKinsey and BCG. They decided to found a technology startup to solve this. The result is a software that can analyze millions of websites and structure unstructured business data, making it accessible to M&A professionals with a few clicks.
“Inven’s AI-powered market research tool is a game changer for the $25B+ global M&A Advisory industry” says Jukka Heikka, Partner at Joint Effects. “By offering a nimble and efficient solution to the real problem of manual research, Inven is poised to save investment bankers, consultants, and analysts countless hours, providing a competitive edge in the rapidly changing M&A landscape” he adds.
“We’re excited to support Inven as they are realizing their vision of the financial industry’s future. Their unique approach and ambitious team have positioned them well for success, and we are confident in their ability to make an impact.” says Petteri Koponen, Founding Partner at Lifeline Ventures.
Inven will use the funding to build its team and take customer acquisition to the next level. The company has already published the first version of its software and is actively developing it with its customers.
“We’re on a mission to offer the most intelligent and intuitive tool to find and analyze companies,” says Tommi Kupiainen.”We’re excited about the impact our software can have on the M&A industry, and we’re grateful for the support of our investors and customers.”
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