Armada Fund V has closed its fifteenth platform investment and provided growth financing to Smartvatten Oy (“Smartvatten” or the “Company”), a company majority owned by Norvestor.
Founded in Finland in 2013, Smartvatten is a hardware-enabled software as a service company providing its customers with a complete solution for real-time monitoring and reporting of water consumption in buildings. The Company’s customers reduce their water costs and the risk of water-related damage while improving their sustainability performance. Smartvatten’s algorithm-based software analyse water consumption data from mechanical, digital, and IoT-enabled water meters in a cloud environment to identify consumption patterns and detect leakages. The Company currently employs around 130 people in Northern Europe.
“We are super excited to partner up with Norvestor and the Smartvatten management team. We are impressed with the achievements to date and are convinced that together with Norvestor and management we can take the Company to the next phase on its growth journey in helping an increasing number of customers with water costs, leaks and sustainability agenda”, commented Seppo Toivio, Investment Director and Deal Responsible at Armada Credit Partners.
For more information, please contact Seppo Toivio (+358 40 486 2790) at Armada Credit Partners.