Finland is home to 126 scale-ups with $1 billion raised between them

This morning, the Startup Europe Partnership (SEP) will publish their Monitor Report on Finland, focusing on the number and health of scale-ups within the country.

Some of their main findings:

  • Finland is home to 126 scale-ups with $1 billion raised between them
  • Finland has 2.29 scale-ups per 100,000 people
  • Only 5% of the total capital raised by Finnish scale-ups comes through the IPO channel
  •  80% of all Finnish scale-ups are headquartered in Helsinki and Espoo.

SEP defines a scale-up as a company that has raised between $1-$100 million.

The 126 that they counted in Finland makes them the second largest scale-hub in the region after Sweden, with the total capital ($1 billion) representing 15%.

Data from SEP Monitor confirms the fact that Finland is the land of gaming, accounting for 18% of the Finnish scale-ups and 1/3rd of the overall capital raised.

For further insights into the state of Finnish scale-ups, you can access the full report here.

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Neil S W Murray founded The Nordic Web in 2014 in order to provide the Nordics with the quality coverage it deserves. As well as being Founding Editor of The Nordic Web, Neil is also an active community builder in the region, participating in a number of initiatives, and has previously worked for