AppGyver raised €2M in capital investment from Karma Ventures and OpenOcean

Estonia Finland Investments 29 April 2020
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AppGyver, a Helsinki, Finland-based company building a business based on a professional no-code platform, announced securing €2 million ($2.2M) in capital investment.

The funding round, which was provided via convertible bonds, was led by existing investors from Estonia and Finland, Karma Ventures and OpenOcean, with participation from angel investors.

Proceeds will be used to accelerate the development of the company's product, Composer Pro, scale up its international expansion, and grow a developer community of more than a million people.

AppGyver, founded in 2012 by Henri Vahakainu and CEO Marko Lehtimäki, developed a visual app builder platform, Composer Pro, a no-code visual platform for professional app development, whereas users can build production-ready apps for any device without having to write a single line of code. Composer Pro is free for indie developers and small companies with under $10M annual revenue, while the company makes money by charging for an enterprise offering, AppGyver Black.

AppGyver is not profitable, as of 2019, at a sales number of €1.2M and, prior to this round, it raised almost $9 million from outside investors.