November 10, 2016

Finnish Heeros is Europe’s first to go public

Heeros consolidates financial administration functions into electronic format, including invoice approval, accounting, payroll and collection.
Heeros consolidates financial administration functions into electronic format, including invoice approval, accounting, payroll and collection.
Istock.com/ Anatolii Babii

Trading in Heeros shares has commenced on the Nasdaq First North Helsinki, after the Finnish company raised 3.4 million euros on the Invesdor crowdfunding platform with its IPO.

Heeros is thus the first European company to go public after raising equity crowdfunding from retail investors.

The company’s shares were priced at 3.10 euros in the IPO, up 40 cents from the 2015 crowdfunding campaign. The pricing of the IPO valued the company at approximately 10.5 million euros.

Heeros is also the first exit for investors on Invesdor’s crowdfunding platform.

“Equity crowdfunding needs to show that it can generate exits for investors; this is the only way the industry can sustain its growth,” says Invesdor CEO Lasse Mäkelä. “While growth companies are generally long term investments, having the possibility to exit is crucial for investors’ confidence in the system.”

This latest development follows a 660 000-euro equity crowdfunding round on Invesdor late last year.

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