
Summit takes €20m minority stake in Relex
US growth investor Summit Partners has injected тЌ20m into Finnish supply chain software developer Relex for a minority stake.
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.
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Czech Republic-headquartered family office is targeting DACH and CEE region deals
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds