Vaadin from Finland raises € 5M from Verdane Capital

Vaadin, the Turku-based company behind the popular open source web application development tools, announced the raise of 5M € in financing from Verdane Capital.

The investment is made partly by buying secondary shares from another shareholder and party as a directed new issue.

This makes it the second investment round for Vaadin in 2016, after the one from January, when Finnish Industry Investment and Swedish eEquity have invested $6 million.

The fresh funds will be used to further boost its investments into product development and marketing.

Vaarding, which led by CEO Joonas Lehtinen, provides business suite solutions to replace desktop applications with standard based web applications that run on all major mobile and desktop browsers.

"We are very pleased to team up with Verdane and further strengthen our position in the growing US and European markets," says Joonas Lehtinen. He adds, "Vaadin is known for its tools that simplify the development of business grade web apps and with the new investment we are able to expand the tools to new and even larger markets".

"We consider Vaadin to represent some of the strongest software expertise in the world. We think we can help this outstanding team in their ambitious growth plans, by building on Verdane's software knowledge," says Janne Holmia from Verdane Capital Advisors, adding, "The importance of software and user experience continue to grow and we believe Vaadin can help businesses advance in these areas".