Gubbe completes a €1.7 million funding round backed by Sweden-based Nidoco.
Gubbe, an Espoo, Finland-based company operating a digital platform for senior people, announced the completion of a capital funding round of €1.7 million ($2M).
The money was raised from investors led by Nidoco from Sweden, which will control a 10% equity stake post deal. Nidoco's Chairman of the Board is Alexander Ehrnrooth and majority of the quity will be controlled by founders Sandra Lounamaa and Meri-Tuuli Laaksonen .
Proceeds will be used to expand operations to Sweden and Denmark later this year.
Gubbe, founded in 2018 and led by CEO Sandra Lounamaa, built a marketplace for finding companions for elderly people. A local young person familiar with the task visits the elderly person for a few hours a week. A visit can include, for example, cooking together, going out, exercising or making music. After the visit, relatives will receive e-mails about the elderly person's well-being.
Gubbe expects sales of €1.9 million in 2021 and previously raised $325k from angel investors from Finland.