Folio raises NOK 50 million from Fiken and Sparebanken Vest.

Folio, an Oslo, Norway-based SAAS developer for financial planning, raised NOK 50 million ($5.1M) in a new equity round.

The money was raised from investors from Norway including local accounting provider and Folio's customer Fiken, joined by existing shareholders Sparebanken Vest.

Folio, founded in 2017 and led by CEO Dag Olav Norem, developed a software solution that is used for bookkeeping, accounting and other financial tasks associated with managing a small company.

The company previously raised $3 million from Sparebanken Vest in 2018, and $1.3 million in 2020.