Case
Smartius advised Panostaja Oyj on its investment in Inclus Oy
Smartius advised Panostaja Oyj on its investment in Inclus Oy, a Finnish provider of SaaS-based enterprise risk management solutions. The investment supports Inclus in accelerating its international growth, particularly in Northern Europe, and continuing its strong growth in the domestic market.
The transaction combines growth funding with the purchase of shares from existing shareholders, with Panostaja’s total investment of approximately EUR 3.9 million resulting in an approximately 48% ownership stake and valuing Inclus at an enterprise value of approximately EUR 6.7 million. Inclus’s founders will continue in management and as significant minority shareholders.
Smartius team comprised Ville Ranta, Simo Kaartinen, Sara Aho, Antto Toivio and Elise Kemppainen.