October 15, 2019
The daily brief: 15 October 2019
iLOQ's digital locking solutions are used by many different public facilities, multi-residential buildings and in student housing for example.
All the daily Finnish business news that works: Nexstim, iLOQ and Enterpay make headlines.
Nexstim’s technology for treating major depressive disorder (MDD) is used at the Stanford University Medical Center, iLOQ is being acquired by Nordic Capital, and Enterpay has raised fresh capital for international growth.
Finnish company Nexstim has placed a navigated brain therapy (NBT) system at the Stanford University Medical Center in the US. Featuring SmartFocus technology, the NBT system will be used to treat inpatients suffering from treatment resistant depression. The first patient there has already completed a treatment series with the technology.
Finnish provider of digital locking solutions iLOQ is being acquired by private equity investor Nordic Capital from Sievi Capital and other shareholders for a reported 190 million euros. iLOQ is behind a range of digital and mobile locking solutions that function without batteries or cables. Its products are sold by more than 800 locksmiths and resellers across the Nordic region and Europe. The Oulu-based company employs around 150 people, and in 2018 it posted 50 million euros in revenue. The acquisition is pending approval from competition authorities and is expected to close in 2019.
Finnish fintech firm Enterpay has raised one million euros in funding, which it plans to use towards international expansion. The Finnish startup’s automated invoicing payment solution for the B2B e-commerce space has been generating international interest and recently helped it secure a new partner in German bank Volksbanken Raiffeisenbanken. The collaboration with the bank and particularly with its cashless payment subsidiary VR Payment gives Enterpay a foothold in the vast German e-commerce market.
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