M-Files receives EUR 27 million in EU financing
Finnish information management company M-Files has signed a 27-million-euro financing agreement with the European Investment Bank (EIB).
M-Files will use the substantial loan for international growth, expansion of its partner network and R&D acceleration in Europe.
The financing is backed by the European Fund for Strategic Investments and will enable the Finnish IT company to expand its operations in the UK, Germany, France, Australia and the US while developing its intelligent information management offering.
“The amount of information companies handle on a daily basis has grown explosively for some time now,” says EIB’s vice president and former Prime Minister of Finland, Alexander Stubb. “However, the systems that manage and handle the information have not been keeping up with the pace. M-Files already has an excellent position on the markets, although we believe that they have an opportunity to thoroughly change how companies utilise information in the future and in the process grow much larger.”
M-Files’ clients include small and medium enterprises, as well as large corporations, from various industries. Last year, information management service markets grew by 12 per cent and the Finnish company close to 40 per cent.