Footbalance hits the jackpot with Scope

Footbalance, a manufacturer of custom made insoles has received a 7 million Euro capital investment from the Swedish private equity fund Scope. The investment enables Footbalance to expand its operations on the international market.

Footbalance is already available in 250 stores in the United States, France, Denmark, Norway and Finland. The company's key customers are the American specialist on running equipment, Road Runner Sport, and sport equipment chain Intersport, which operates in 37 countries worldwide. Footbalance and Intersport signed a strategic partnership contract last summer.

Footbalance concept is based on complimentary computer-aided foot analysis and customized insoles, which are made in only 10 minutes in sports and shoe stores. Footbalance insoles support ideal foot and ankle alignment while preventing and correcting malpositions, which are estimated to be problems for up to 75 percent of all consumers.

-Footbalance has a unique concept, which has proven itself on the international sports market. We believe that Footbalance will continue to benefit from the current health and exercise trend and that the company will continue strengthening its leadership in new markets and segments. We want to take an active role as the owners of the concept, and get involved in the company's development, says Andreas Ossmark, Partner and Founder of equity fund Scope.

According to the Founder and owner of Footbalance System Ltd. Erkki Hakkala the cooperation with Scope will help the company to realize its dream of becoming one of the world's leading custom insole manufacturers. The investment turns Scope into a notable shareholder in the Finnish company.

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