Taneli Tikka, the CEO of RunToShop, has just announced on his blog that they have closed a financing round with RunToShop. The investment round was lead by VeraVenture, the Finnish gov’t investment fund. Taneli writes that this is their largest round yet and together with VeraVenture, there were 8 business angels additionally in the investment round.
There is no disclosure on the sum invested, but since RunToShop is able to go through all of next year easily and be backed for the internationalisation of the company – it can be can be considered to be a relatively high one. Together with the announcement, Taneli tells that RunToShop is now hiring concept designers and developers to help them take the idea further.
Despite the economic downturn, this is a very welcome investment round to spark up the entrepreneurial scene here in the Nordics. Perfect proof of the fact that, just as Joi and Saul told earlier, even in difficult times venture capitalists and investors do business.