Smartvatten, a Finnish growth company specializing in water efficiency in real estate, has obtained significant funding to promote its international business. Business Finland granted Smartvatten loan funding of EUR 750,000 because the company had grown its international contract portfolio despite the challenges of the previous financial period. Conditions are now more favourable for growth and the NIY3 funding is expected to have a major impact on accelerating Smartvatten’s expansion.
“We have managed to grow rapidly in international markets despite the coronavirus. It’s great that Business Finland has funding instruments of this kind for the further acceleration of growth. We are grateful for this positive funding decision and will immediately embark on the activities it enables,” comments Jussi Niiniaho, CEO of Smartvatten.
Smartvatten remote monitoring serves currently around 7,000 properties in Finland, Sweden, the Netherlands, and other European countries. In addition, the company received FCC approval for operating in the US market in summer 2020 and has gained its first customers in the USA.
“The funding now provided will enable us to add several recruits to our international sales and marketing team. I am particularly pleased on behalf of our international real-estate investor-customers, as the team’s expansion will enable us to serve them even better to achieve ESG goals,” says Joe Hamari, co-founder and VP Sales at Smartvatten
Improving the efficiency of energy and water consumption on real-estate will have a major impact in the fight against climate change. Around 40% of all CO2 emissions on our planet are caused by real estate and its use. Smartvatten’s services enable accurate monitoring of water consumption on real estate without changing water meters, the immediate detection of water leaks, and, based on Smartvatten’s water-saving service, reduction of water bills by an average of 20%. In Finland, the service is used by Varma, Ilmarinen, and Senate Properties, as well as in thousands of housing cooperatives. Internationally renowned service customers include CBRE, Savills and Bouwinvest.
NIY, i.e. Youth Innovative Company funding, has been granted since 2008. The funding is intended for start-ups less than five years old. NIY funding is awarded to promising start-ups that have turnover, can demonstrate that their business is growing, and aim to scale up fast. The chosen companies tend to have been operating for at least three years and have already used Business Finland’s funding services in a previous project. The funding has helped 447 promising start-ups to grow in international markets.
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