Nordea as an enabler of growth – lending to startups hits record levels

Startups and investors will gather once again this autumn at Slush in Helsinki to bring innovation and capital together. The startup ecosystem is not only a driver of Finland’s economic growth but also a key player in solving future challenges – where Nordea’s role as a finance provider continues to strengthen.

By the end of September 2025, Nordea’s lending to growth companies had soared over 150% year-on-year. As Nordea holds an 80% market share in the startup and scale-up segment, the record-breaking demand shows that growth companies are ready to accelerate into new markets with an increased appetite for risk.

“The sharp rise in lending early this year is largely driven by later-stage companies seeking debt as well as by bigger loan amounts,” says Vesa Riihimäki, Head of Startup & Growth at Nordea in Finland. “What’s interesting is the broader range of sectors – not just pure tech, but also firms in the energy, defence and environmental industries,” Riihimäki adds.

As Slush’s main partner for the ninth year, Nordea will host the Investor Speed Dating event, connecting late-stage companies – typically with revenues in the tens of millions of euros – with global investors commanding tens of billions in capital.

Finland’s startup ecosystem plays a key role: its 4,200 companies employ an estimated 47,000 people globally and generate around 12,5 billion euros in annual revenue.[1]   

“The real impact lies in the sector’s ability to innovate and find solutions to future challenges, driving long-term growth for the entire Finnish economy,” Vesa Riihimäki says. “This year’s data shows increased investments in growth and expansion, along with an increased willingness to take risks by entering new markets,” he concludes.