Through BackingMinds Venture Capital, Serviceform raises €2M to introduce new technologies to our product range and expand into new markets such as Sweden and Central EU.
Serviceform was founded in 2018 by Sri Lankan CEO Iranthi Gomes and Finnish CTO Jarkko Oksanen. While running a cool coffee business in Australia, Iranthi and Jarkko noticed a severe lack of business software that is made for non-tech-savvy professionals.
With the goal of helping underserved businesses digitalize, our products are now used on more than 1500 websites and by businesses in 9 different countries from Asia to Europe to North America. With €2M Seed Round investment in the pocket, we are ready to take our mission more globally.
€2M Seed Round with BackingMinds
Like any modern relationship, we met with BackingMinds at a speed dating event hosted by Nordea Investors. We met with 8 investors there including BackingMinds and got to know more about each other.
While the rest of the world chases after unicorns, BackingMinds’ Founding Partners - Sara Wimmercranz and Susanne Najafi, fix their gaze on venture capital’s blind spots.
Sara Wimmercranz is the founding member of Footway and a Dragon on Draknästet (or Dragons’ Den – the Swedish version of Shark Tank).
Susanne Najafi is the founder of Eleven and a board member of Stockmann and Lindex.
Sara and Susanne believe that only dead fish go with the current. Instead of jumping in headfirst, you can hang out by the sidelines, observe, and try to understand the big picture. That is how they’ve been able to cover blind spots and discover hidden gems.
“I think it is this mindset that draws me towards BackingMinds. They clearly share our values and our long-term vision. As a company, we also like to develop overlooked potentials. Another criteria we looked for when choosing an investor is someone who doesn’t have unrealistic expectations but still has high expectations. With BackingMinds’s experience and wisdom, we believe that they can provide immense value for us outside of the Finnish market," said Iranthi.
On the investment round, Sara Resvik - CEO of BackingMinds remarked, “During the whole process, Iranthi and Jarkko showed that they are obsessed with the customer experience. When we saw that the increase in the number of leads for customers could be threefold, we understood that there is something super sticky here. The low churn also shows how happy the customers are."
In addition, VC Gorilla Capital of Finland, who has been our mentor and strong support system since day 1 - extended their investment!
“Gorilla Capital has been a Serviceform investor since 2018, so we have had a 1st-row seat to monitor their development and progress. They have been one of the steadiest growth stories in our portfolio, and now they are ready to move to the next level. We are very excited to see them start the next chapter on their journey.”
- Risto Rautakorpi, Managing Partner at Gorilla Capital
Are we spending all our money on parties?
That would be nice but no… We have clear goals about how we want to spend €2M and it will be used mainly for three things:
1. To expand into new markets: Sweden, France, Germany, Netherlands, and Luxembourg.
2. Scale the proven business model in Finland, Spain, and Sri Lanka by strengthening the current team from 30 to 100 to serve existing and new clients even better.
3. Introduce new technologies to our products and broaden our portfolio to satisfy and exceed clients’ needs.
On these future goals, Iranthi is “very thrilled to partner with BackingMinds to take Serviceform to the next level. All SaaS products require you to have a certain amount of experience in finding the right solution and setting it up. It can be quite frustrating and time-consuming. We want to make it a simple and frustration-free process for all businesses,” says Iranthi Gomes, CEO & Co-founder of Serviceform.
Iranthi Gomes, CEO & Founder of Serviceform
+358 50 408 1112