Ukko raised capital investment from Juuri Partners

Ukko, a Helsinki, Finland-based provider of paperwork related to billing and payroll for SMEs, announced getting into an investment agreement with the Finnish private equity company Juuri Partners.

Following the deal which has financial details undisclosed, Juuri's fund, Juuri Rahasto I Ky, will become a minority shareholder of UKKO.fi with a 25% stake. UKKO.fi's founding shareholders will continue to be significant owners of the company.

The arrangement will facilitate the expansion, business development and prepare the grounds for a stock exchange listing in the future.

Ukko was founded in 2012 by Ukko Kumpulainen, Olli Kopakkala, Antti Turpeinen and Marko Yli-Paavola and is managed by CEO Aleksi Rautavuori via SLP Group Ltd. The company provides a digital solution that allows freelancers to invoice without a company of their own. The company has 50 employees and had sales of EUR 85M ($93M) in 2018.