We filed an application back in June to acquire the payment institution registration from the Finnish Supervisory Authority. As of December 13, 2019 we got the decision that allows us to offer payment transfer and processing services. The team remembers that while their friends were enjoying the camp fires and Mid-Summer Eve, they were in sitting in the office making last checks before filing in the application. But it was all worth it. Now FSA decided to allow us to provide payment services.
Exciting news! We opened Denmark office!
Christoffer Hansen, a finance professional, and an excellent person, has agreed to launch United Finance services in Denmark. With 25 years of experience in financial world, he will help to make the first steps of our expansion a success.
ALSO Expo is here again!
We have new features for customers. Taavi Havre and Antti Sulkumäki are going to ALSO Expo to show this! We are launching new asset management service and credit limit offering together with Also Finland. Some customers even asked us before: “How smart can a contract go?”
In business with SuperApp!
SuperApp is launching Mobile App as a Service to the Market. Customized mobile application for businesses acquired with a monthly plan. Forget waterfall or agile software development projects!
We held a Summer Camp!
Amazing results from our Summer Camp. While most of our team has technology background, or they just love numbers, it was a rewarding camp. We came back with smart contracts for software as a service, switchboard as a service, IoT as a service. We are excited to put these into practice as we have a lot of interest from potential customers! Stay tuned!
Cyber security expert joins our supervisory board
Cyber-expert Aare Reintam, former NATO cyber defense exercise coordinator, brings new expertise to the supervisory board.
Austria awaits us again!
Third anniversary of our trip to Austria! Well-deserved winter break to mountains awaits us. Lovely Finnish family who runs a hotel in Bad Gastein will happily serve us – uFolks. Bring your swimsuits, there is a sauna!
New financing product added to subscription agreements
We have agreed another 5 million euro investment limit for subscription receivables. Is this the way of taking what used to belong to banks, some may ask. Meelis Mullaste, our CRO, knows how the market functions: “This is not stealing from banks but only showing them how modern systems and processes should work.”
Investors love our product!
We made another subscription portfolio worth of 1.3 million euros. Another example of subscription trend, or as Marko Roivainen, our CFO, puts it: “This can be seen as validation of our business model. But actually, this shows how subscription receivables generated and managed inside our smart ecosystems are welcomed by the market. We have a clear vision how to continue scaling on that front.”
5 500 investors join the ecosystem!
5 500 investors invested in the subscription agreement portfolio. These were the first tickets we placed to the market, totaling of 2.2 million euros.
Record numbers hit!
3.28 million euros of revenue recognised for the first half of 2018! Stay tuned, we are working on something great!
This year our summer event happens alongside Estonian coast! The Estonian team invites everyone to join the Amazing Race! You will get a map and must prepare your mind. Be ready for water, mud, adventure and speed. Not to worry, later on you can use smoke sauna and get delicious food. All our investors and board members can join!
Yes! New Subscription released to market! Print-Per-Page!
We just love innovation! In old times people acquired printers. In recent times manufacturers entered managed printing solutions. In the future, you pay per printed page – exactly for what you consume. We are happy to announce that we already live the future! One subscription agreement and 100 machines distributed across the city result in 100 automatic invoices sent monthly with the amounts dependent on pages printed. Of course, black-and-white printing is cheaper and of course, this is all digital!
We deserve relaxation
uFolks, it’s time to pack! Take your skis and snowboards. We deserve some fun after great end to 2017! Tickets are booked for you to Zell-am-Zee, Austria!
We just tripled our numbers!
We exceeded our budget and tripled the revenue compared to the first half of the year. Our revenue exceeded 1.5 million level, amounting to 1.71 million euros.
Timo Leinonen: “Actually this is not a surprise. I witnessed an incredible team effort throughout the second half of 2017!”
Recognised professionals join United Finance
Andreas Laane, former CEO of Nordea Estonia, and Imre Madison, former CEO of Mandatum Life Baltics, take positions in the supervisory board of United Finance. Timo Leinonen, CEO: “Experience of Andreas and Imre is what we were missing! They will bring the expertise of management and finance – exactly what we need for continuance of our robust growth!”
Collected additional 800 thousand investment
We have collected additional commitments from existing investors in the value of EUR 800 000. Marko Roivainen, CFO, says that the investor’s belief justifies the Company’s selected strategy. “We need additional capacity to build subscription portfolio. Only volume is the proof to the market.”
Yes! Furniture as a Service is here!
We have signed cooperation agreement with Martela Oyj, a listed Finnish furniture manufacturer with over 100 million euros in revenue. This partnership enables creation of first ecosystem in office interior solutions.
Service-to-Business model launched at ALSO Expo
Together with ALSO Finland, the market leader for ICT equipment and devices, we are launching the S2B model for subscriptions. Our CFO, Marko Roivainen says: “This is a landmark cooperation for United Finance. ALSO, operating in 27 countries, has revenue of more than 400 million euros solely in Finland! And 1 400 resellers in Finland alone. We see huge potential in developing subscription modelling with ALSO’s team.”
Meelis Mullaste is now with us!
The management of United Finance is happy to announce that we have succeeded to on-board new knowledge and experience. Meelis is a true professional with 20 years of experience in managing credit and leading teams. Before joining he was the Head of Baltic Credit Models and Head of Credit Risk Management and Control in one of the biggest Scandinavian banks.
uFolks explore Latvia
As we have grown to team of 15, we want to uplift the team spirit while mixing and mingling. We hope our spirit skyrockets. We are going to Jurmala for a fun weekend. Prepare yourselves uFolks!
We reached half a million euros in revenue for the first half of 2017!
Seed Round successfully closed!
The management collected new investment money of EUR 3.38 million in order to enhance the platform development. Founder Marko Roivainen says “This enables us to hire new senior architects, business analysts and support staff to meet growing customer demand for post-ERP systems. All in all, this will form the basis for our growth.”
Our people first!
We’ve hired a beautiful chalet in Saalbach, Austria and take the team for some skiing and après ski fun. We want to team build around our passion for ski resorts. Afterall, we are a Nordic company and in love with winter, snow and sports!
We’ve opened a new office in Tallinn to support provision of our services. Tõnis Vahesaar, Kersti Rahnel and Tarmo Kallas took the first chairs in the freshly redecorated work environment. Our new team is making sure we continue to build effective processes and structures in line with our customer needs.
United Finance merges with TPL Group
Timo Leinonen, the CEO of the TPL Group says that “more and more companies want to pay for the use of products, not the ownership. This rapidly advancing change in purchase behaviour has led to companies offering their products to customers using the service model.” Upon merger Timo serves as the CEO of United Finance.
Spin-off and IPO
Color box hover effect xxx Vincit, expert in software development, service design and ICT services, went public. Trading in Vincit Group shares commenced today on Nasdaq First North Finland.
Along with the preparation for IPO, United Finance was spun off from Vincit. The founder of United Finance, Marko Roivainen, remained as the second biggest shareholder in Vincit.
Vincit is the Best Workplace in Europe 2016
Vincit is the Best Workplace in Europe according to the Great Place to Work Institute. This topped off the three-year series as the Best Place to Work in Finland (2014, 2015, and 2016).