Summit takes €20m minority stake in Relex

The fresh capital will fund the company's ongoing international expansion, including Relex's move into the North American market later in 2015.

Founders Mikko Kärkkäinen, Johanna Småros and Michael Falck will remain majority owners of Relex following what is Summit's first investment in a Finnish company.

Summit vice-presidents Steffan Peyer and Antony Clavel will join Relex's board as part of the investment.

Company
Relex is a Finnish developer of supply chain management software based on in-memory computing – a computing method that boasts quicker processing speeds.

Based in Helsinki, the company has customers in 17 countries and offices in the UK, Germany, Sweden, Norway and Denmark. Relex employs 150 people and plans to launch its services in the US later this year.

People
Antony Clavel and Steffan Peyer led the deal for Summit. Mikko Kärkkäinen is the CEO of Relex.

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