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Meridea Financial Software wins EUR10 million second-round investment

22 April 2004  |  3717 views  |  0 Meridea Financial Software wins EUR10 million second-round investment

Meridea Financial Software has secured EUR10 million in second-round financing and attracted a new venture capital backer in Nordic Venture Partners.

NVP joined with Meridea’s existing owners Sampo and 3i in the latest investment round. Previous investors include Nokia and Accenture.

Meridea plans to use the EUR10 million financing for the ongoing development of sales activities in core target markets in the Nordic countries, Central and Western Europe and Asia.

Jukka Rauhala, a partner at NVP says: "Our short-term aim is to gain an opening in the UK and Nordic countries."

The firm breached the Asian markets last month when CITIC Industrial Bank of China placed an order for mobile banking software.

In its home market in Finland, Meridea has references from local bank and financial backer Sampo, AREK Oy (formerly ITPAL Oy), the company responsible for revamping the pensions system.

The Meridea Product Suite (MPS) is a complete software package for multi-channel customer interaction management. The company was founded in 2001 and currently employs 100 people from its headquarters in Helsinki, Finland.
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