Connect with us
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Top Stories

EUR 27 million European financing for Finnish software company M-Files

EUR 27 million European financing for Finnish software company M-Files
  • M-Files will use the financing for international growth, partner channel expansion and accelerating R&D in Europe
  • The company will expand its offices in UK, Germany, France, Australia and the US, and increase investment in its intelligent information management platform
  • Loan backed under European Fund for Strategic Investments, part of successful Juncker Plan

The European Investment Bank (EIB) has signed a EUR 27 million financing agreement with software company M-Files from Tampere, Finland.

The loan was made possible by the European Fund for Strategic Investments (EFSI)central pillar of the Investment Plan for Europe, which was launched by the EIB Group and the European Commission to boost the competitiveness of the European economy. This operation is the EIB’s largest commitment in the Finnish IT sector for years. With these funds, the rapidly growing company aims to revolutionise the way organisations manage and use information, making it more intelligent, intuitive and compliant.

EIB Vice-President Alexander Stubb, responsible for lending in Northern Europe, said: “The amount of data that organisations have to deal with on a daily basis has been exploding for quite some time now, and the systems used to manage and process that data have not always kept up. M-Files already has an excellent position in the market, but we believe that it has the potential to fundamentally change how businesses leverage information in the future and, in the process, get much bigger. We’re happy to support that.”

M-Files CEO Miika Mäkitalo, added: “To compete and succeed in the future requires a new way of thinking; the old approach of storing everything in one central system no longer works. M-Files takes an entirely different approach, applying artificial intelligence to organise data based on what it is and what it’s related to, regardless of where it’s stored. This unifies information across the organisation, putting it in context, so it’s instantly available when it’s needed. It’s dynamic and personalised, whereas the old way is static, top-down and based on a one-size-fits-all approach. We call this intelligent information management, and it’s going to change the way the world manages information.”

European Commission Vice-President Jyrki Katainen, responsible for jobs, growth, investment and competitiveness, said: “I am pleased that the European Fund for Strategic Investments is supporting M‑Files’ international growth and R&D activities. M-Files is a great example of the sort of innovative, fast-growing company that we want to enable in Europe, and this agreement should provide inspiration to other companies working in the digital and artificial intelligence sectors. It’s also gratifying that this investment is directly supporting the creation of numerous jobs: a core objective of the Investment Plan.”

M-Files’ customer base includes both small-to-midsize businesses and large enterprises in a variety of industries and markets, including manufacturing, professional services, finance, engineering, construction, energy and life sciences. Recent research[1]shows growing demand for new approaches to information management, with the Content Services Platforms market growing by almost 12% in the last year. Over the same period, M-Files grew by almost 40%, reflecting a rapid expansion of its market share in an already competitive and expanding market. The EIB financing will not only allow M-Files to better serve its customer base, but also allow it to accelerate its already fast growth, creating new specialised jobs in Europe and beyond.

Global Banking and Finance Review Awards Nominations 2022
2023 Awards now open. Click Here to Nominate


Newsletters with Secrets & Analysis. Subscribe Now