Korona Invest has made a majority investment in online shop maker Innoflame Oy

1.11.2021

A developer of online shops for businesses, Innoflame Oy is the 32nd initial investment of Korona Invest and the first target company of the fourth fund, which was launched in October. Korona Invest was selected as the new majority shareholder of Innoflame from several options.

“Korona Invest is a trustworthy Finnish capital investor with an eye on the long term and plenty of experience in developing Finnish growth companies. We very quickly found a shared vision of how we could develop our company profitably and responsibly, while creating more jobs in Finland,” says Innoflame’s CEO Sami Savela.

The company aims for strong growth in an increasingly digital market. As a growth partner, Korona Invest contributes expertise in financing and responsible business development, enabling Innoflame to further expand its operations.

“We have produced custom online shop solutions for more than 200 Finnish companies. Online shops make it easier to order and manage employee gifts, brand products, and workwear. Our objective is to expand to new areas in Finland. Every new area will have a skilled sales organisation that maintains the quality of our service,” says Savela.

Further growth from acquisitions

Although the objective is to build Innoflame into a leading operator in the Nordics, there is still much room for growth in Finland. Future growth around Finland is sought through business acquisitions. Innoflame was founded in 1996 by Sami Savela and Ronny Rubin when they were students, and they will continue to manage the company as minority shareholders.

“How Innoflame has grown from the project of two students into a leading enterprise in its industry is an impressive show of skill and 25 years of experience. At Korona Invest, we are experts in acquisitions and the responsible development of business. With Innoflame’s experienced management and competent personnel, I believe that we will achieve strong growth,” says Jaakko Isotalo, Investment Director at Korona Invest.

 

Additional information:

Sami Savela, CEO, Innoflame Oy
tel. +358 50 514 3961
sami.savela@innoflame.fi

Jaakko Isotalo, Investment Director, Korona Invest Oy
tel. +358 40 712 3655
jaakko.isotalo@koronainvest.fi

Korona Invest is a Finnish private equity investment firm specialising in financing growth companies. Korona Invest invests in small to medium-sized enterprises which are seeking and capable of growth, regardless of industry.

Innoflame sells and develops online shop solutions for businesses. Tailored online shops allow companies to easily manage orders for employee gifts, workwear, and brand products. Founded in 1996, the company operates in Helsinki, Tampere, and Pori in Finland.