Bregal Milestone co-leads €41.5m round for ePassi

Pekka Rantala, the newly appointed ePassi CEO, also invested in the transaction.

Bregal Milestone deployed capital from its €400m fund, which invests between €20-60m in European companies operating in the technology, healthcare, business services, consumer, manufacturing and speciality finance sectors.

The founder of ePassi, Risto Virkkala, will continue to hold a significant stake in the business and will stay on with the company as chair. In addition, Bregal Milestone will take an active role in the management, while First Fellow's Risto Siilasmaa will act as an adviser to the company's board. 

The fresh capital will be used to enhance ePassi's R&D and product development capabilities, and boost its growth and international expansion, also capitalising on the opportunities offered by the new EU payments services directive for mobile payments.

Company
Established in 2007, ePassi provides companies with digital and mobile payments for subsidised employee benefits. Its client base includes several international firms, such as AliPay and WeChat. The company is headquartered in Helsinki with offices in Sweden, Spain and Poland.

People
Bregal Milestone – Matteo Bozzo (director).
First Fellow Partners – Risto Siilasmaa (founder).
ePassi – Risto Virkkala (founder, chair); Pekka Rantala (CEO).

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