Finago Acquires UKKO.fi Parent Company

Fintech company Finago has finalized the acquisition of SPL Company Oy, the parent company of Finnish financial technology firm UKKO.fi. The acquisition is intended to support Finago's ongoing development as a leading business software provider in the Nordic region.

Finago first announced the agreement to acquire SPL Company Oy on March 17. The transaction received approval from Finnish competition authorities in April. The purchase price and terms of the deal have not been disclosed.

According to Finago Group CEO Lars Engbork, the integration of UKKO.fi supports business founders by offering a digital-first, simple administration solution. He stated that UKKO.fi has established a unique path for entrepreneurship, allowing for small-scale beginnings, quick idea validation, and scaling into full-time businesses. The combined entity aims to provide a continuously scalable financial management solution.

UKKO.fi will continue its daily operations, personnel, and customer relationships independently within the Finago Group. This structure ensures continuity for customers while enabling UKKO.fi to offer a broader range of solutions in the future, leveraging the pan-Nordic group's support and networks. Aleksi Simola, CEO of UKKO.fi, expressed confidence that the partnership will accelerate their growth and provide customers with enhanced opportunities.