SPRINGNasdaq HelsinkiAsset ManagementIFRS · EUR

Springvest Oyj

Springvest is a Finnish investment services company that organizes equity funding rounds for unlisted growth companies and takes minority stakes in the businesses it helps finance. It operates from Finland and is listed on Nasdaq First North, combining capital raising services with a portfolio of private-company equity holdings.

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Revenue5.9m EUR
−14.8 %y/y
Operating profit (EBIT)0.2m EUR
−91.1 %y/y
EBIT margin3.1%
−26.5 ppy/y
Net income0.9m EUR
−42.7 %y/y

Fiscal year 2025 · change from previous year

Development 2022–2025

02468m EUR2022: 3.8 m EUR2022: EBIT 0.74 m EUR20222023: 3.8 m EUR2023: EBIT 0.54 m EUR20232024: 6.9 m EUR2024: EBIT 2.0 m EUR20242025: 5.9 m EUR2025: EBIT 0.18 m EUR20255.90.18
RevenueOperating profit (EBIT)
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Business

Share of revenue
Capital raising services60 %

Organizing equity rounds and placing shares for unlisted growth companies.

Placement and transaction fees25 %

Fees earned from executing funding rounds and related investor transactions.

Portfolio equity investments15 %

Minority ownership stakes in target companies financed through Springvest rounds.

Customers

Springvest serves Finnish unlisted growth companies that need equity financing, typically technology-oriented businesses raising capital for expansion. It also serves risk-tolerant growth investors who want access to private-company opportunities and a diversified portfolio of unlisted shares.

Unlisted growth companies

Companies that buy Springvest's fundraising and placement services to raise equity capital for growth.

Growth investors

Individuals and other investors who subscribe to funding rounds to gain exposure to private Finnish growth companies.

Portfolio company stakeholders

Founders and existing owners who benefit from Springvest-arranged capital and broader investor access.

Strategy

Springvest's strategy is to connect Finnish growth companies with investors and to deepen its role as a long-term partner in private-company financing. It aims to expand the number and scale of funding rounds it organizes, build a larger portfolio of minority stakes, and strengthen its position in Finnish growth capital markets.

Scale funding-round originationShort term

More and larger rounds increase fee income and broaden the deal pipeline.

Grow the portfolio of minority holdingsMedium term

Equity stakes create upside from successful exits and long-term value creation.

Strengthen position in Finnish growth capitalLong term

A stronger market role improves access to quality issuers and investors.

Geography

Springvest's business is centered in Finland, where it sources growth companies, investors, and portfolio holdings. The reports describe the company as a Finnish market platform with Helsinki as its home base, and its exposure is therefore tied mainly to Finnish private-company financing conditions.

Risks

Springvest is exposed to the health of the Finnish growth-company financing market, which can weaken when investor appetite, interest rates, or macro sentiment deteriorate. Because part of its value comes from minority equity holdings, it also faces valuation and exit-timing risk in private companies, where realizations can be delayed or impaired.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Weak private-market fundraising conditions1Portfolio valuation declines2Delayed or failed exits3Macroeconomic and geopolitical uncertainty4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Weak private-market fundraising conditionsImpact: HighLikelihood: High

    Springvest's fee income depends on completing equity rounds for growth companies.

    Exposure: Finland growth financing market

  2. Portfolio valuation declinesImpact: HighLikelihood: High

    Minority stakes are carried at fair value and can be marked down if company prospects worsen.

    Exposure: Unlisted portfolio companies

  3. Delayed or failed exitsImpact: MediumLikelihood: High

    Returns from portfolio holdings depend on M&A or listing events that may not occur on schedule.

    Exposure: Exit-dependent equity holdings

  4. Macroeconomic and geopolitical uncertaintyImpact: MediumLikelihood: High

    Higher rates, inflation, and geopolitical stress can reduce investor risk appetite.

    Exposure: Finnish and broader European sentiment

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Accounting

Judgemental items
Fair value measurement of unlisted equity holdings

Most portfolio investments are not publicly traded and require Level 3 valuation estimates.

Impact: Can materially change balance sheet value and profit or loss

Timing of fee revenue from funding rounds

Revenue is linked to transaction completion, so quarter-to-quarter timing can be uneven.

Impact: Affects comparability of reported revenue across periods

Impairment and write-downs on portfolio companies

Weak performance or failures such as bankruptcy can reduce carrying values.

Impact: Can create large one-off losses in the income statement

Capital adequacy and regulatory own-funds reporting

As an investment services company, Springvest must monitor regulatory capital and fixed overhead requirements.

Impact: Affects balance sheet resilience and operating flexibility

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Last updated: 24/09/2026

Springvest Oyj (SPRING) Revenue, Earnings & Financials 2025 – Clarifo