Nordea backs EvoluteIQ for growth
Stockholm, March 30th, 2021. Nordea has signed up as the strategic banking partner for EvoluteIQ, providing the capital required for the continued growth and scaling of the EvoluteIQ business. EvoluteIQ, a leading Low Code/No Code Hyperautomation enablement platform has been acquiring enterprise clients across multiple geographies and industries since it’s carve out in 2019. With multiple clients signing up for long term multiyear subscriptions, EvoluteIQ is witnessing accelerated growth.
“Our group is focused on identifying Startups with strong potential to scale along with a unique value proposition. We are very impressed with the financial metrics, clients and the business model that EvoluteIQ have been able to build in such a short time. We are very excited to be a part of this growth journey along with the EvoluteIQ team”, said Maria Smith, Growth Banker at the Startup & Growth team within Nordea.
Earlier this year, Confidus Venture Capital AB had announced that it had more than doubled its investment in EvoluteIQ. Speaking about this announcement; Peter Dahlgren, Founding Partner of Confidus and Chairman of EvoluteIQ, said, “Having a partner like Nordea supporting EvoluteIQ with the required financial investments not only helps accelerate the growth, but it also underpins the quality of the business EvoluteIQ is building”.
“To have a 200 year old robust financial institution like Nordea behind us is a very proud moment for the entire team. We will be using the funds for furthering our innovation of the e.IQ platform and expanding our sales & marketing teams globally”, said Sameet Gupte, CEO of EvoluteIQ.
Nordea is a leading Nordic universal bank. We are helping our customers realise their dreams and aspirations – and we have done that for 200 years . We want to make a real difference for our customers and the communities where we operate – by being a strong and personal financial partner. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges.
For more information on Nordea, visit: www.nordea.com
EvoluteIQ is a Stockholm based privately held product company that was carved out in 2019 from a global technology group. The core platform e.IQ is, an end-to-end Enablement Platform for hyperautomation that combines the capabilities of low-code / no-code, iBPMS, AI, ML, IOT, RPA Integration, OCR, Blockchain and data processing on a single integrated platform.
For further information, please contact:Deepak Kinger
Chief Strategy Officer for EvoluteIQ