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.