Bocap invests €6m in Eficode

Eficode plans on speeding up the international expansion of its DevOps product and services. It aims to open several new offices outside Finland by the end of 2019.

The investment was made via the Bocap SME Achievers Fund II, which held a second close on €50m. The growth fund is looking to invest in entrepreneur-driven, unlisted Finnish SME companies with a turnover of €4-40m, and is sector agnostic. LPs in the fund include two Finnish insurance companies, Veritas and Ilmarinen, alongside other institutional investors and Finnish families and entrepreneurs.

Company
Founded in 2005 and headquartered in Helsinki, Eficode is a technology company focused on supporting the digital transformation of north European companies using software production methods.

The company projects an estimated turnover of €23m for its current fiscal year. It employs a staff of 235 across locations in Finland, Denmark and Sweden.

People
Bocap – Julianna Borsos (CEO, founding partner); Vilma Torstila (investment director, partner).

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• Topics
• Expansion
• Technology
• Nordics
• Finland