Idinvest leads €12.9m series-B round for Midaxo

Other backers in the round include previous investors EOC Capital and Tesi, a Finnish VC firm. The funding comprises €10.3m for the company as a capital increase and €2.6m going to existing shareholders.

The latest round brings the total funding raised to date by Midaxo to €18.6m. With the fresh capital, it plans to expand its European operations, with a particular focus on the Nordic region. Additionally, Midaxo will use the funding to recruit software developers for its Helsinki office.

Company
Founded in 2011 and headquartered in Helsinki, Midaxo offers a cloud-based platform for companies to run their M&A and other complex management processes. The firm works with M&A consulting and private equity firms, and customers include HP Enterprise, Philips, Daimler and Verizon.

Midaxo employs a staff of 70 across four offices in Boston, Helsinki, Amsterdam and Riga.

People
Tesi – Keith Bonnici (investment director).
Idinvest Partners – Alban Wyniecki (investment director).
Midaxo – Ari Salonen (CEO).

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• Topics
• Expansion
• Nordics
• Technology
• Finland
• IDInvest Partners (AGF Private Equity)
• Venture