Finland’s Heeros Announces IPOs One Year After Securing €660,000 on Invesdor

Heeros Oyj, a Finnish cloud-based financial management software solutions company, announced this week it is IPOing on Nasdaq First North growth market in Finland. The company revealed the subscription period of the IPO started on Wednesday through crowdfunding platform Invesdor. This launch comes one year after Heeros  secured  €660,000 through the funding portal. The initiative reportedly brought the company visibility and close to 200 new shareholders.

heerosSharing details about last year’s funding round, Heeros CEO Matti Lattu stated:

“Last year’s crowdfunding round was a pre-IPO operation for us. Through crowdfunding, we had a lot of new retail investors joining us on our growth journey even prior to listing on a public market.”

Invesdor’s country manager, Thomas Petroff, also commented:

“Heeros’s IPO is excellent news for Nordic crowdfunding and for the investors of last year’s crowdfunding round; the investors will now get to track their investment and its value more closely. We are very happy to play a role in bringing Heeros’s growth story closer to investors for the second time.”

Invesdor also observed that only a handful of companies in Europe have gone on to IPO after previously raising crowdfunding. Petroff went on to add:

IPO“Crowdfunding platforms work well also for listing companies because it is a quick and efficient distribution channel for equity offerings. A pre-IPO crowdfunding campaign is a logical step for a company preparing for an IPO; the campaign brings visibility and shareholders that are valuable when listing.”

Since its launch in 2008, Heeros has seen year-on-year growth of 20%. The company has three offices in Finland, one in Rotterdam, Netherlands, and one in Stockholm, Sweden. It currently has 58 employees. Heeros’ offering is only available in Finland and to limited investors in the EEA.

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