With the new funding and a larger network of experts inspired by Lenio’s offering and its potential to create success for SMEs, the company is now well placed to continue growth serving domestic clients and further down the line, setting sights abroad.
Another rising star in the Finnish software startup scene: Tampere-based Lenio Oy collected €390,000 in funding in November 2022. The company's key personnel and private investors participated in the round, including Takeoff Partners.
With the boost provided by the funding as well as the valuable network of experts who engaged with the company in the process, Lenio aims to accelerate its growth and further develop the Lenio TOP business management solutions.
"This successful funding round allows us to now invest in sales and marketing as well as accelerate service development. In the past, we have done this almost exclusively with income financing, demonstrating our ability to succeed in the relatively competitive market of business management solutions. So, now the time felt right to take the ambition to the next level," says CEO and founding partner Simo Mäkinen.
Valuable help for domestic SMEs
Lenio TOP is a domestic enterprise resource planning system that companies can use to improve their productivity by streamlining their operations and processes in the field, at the office and in financial administration. The software is completely cloud-based and can be integrated into several commonly used financial administration and ERP systems.
Markko Vaarnas from Takeoff Partners sees that companies like Lenio are a valuable asset to domestic SMEs.
"The contribution of Finnish software houses producing SaaS services that improve productivity is a nationally important matter, particularly because SMEs often need to plan resourcing carefully to protect their growth.”
While the market is indeed competitive, Vaarnas believes that in the future, improving scalability might open new possibilities abroad, in the EU region.
“Although there is an abundance of software services for SMEs and entrepreneurs, there are fewer high-quality digital solutions that touch the fundamentals of business. Lenio's know-how, not only in coding, but in understanding the business of its customers, is the distinguishing factor here.”
CEO, Lenio Oy
+358 50 469 7400