Cyprus-based Embria exits Finnish Duunitori with 70x return on investment
HELSINKI and LIMASSOL, Cyprus , July 13, 2022 /PRNewswire/ -- After seven years of close cooperation, Embria, one of the oldest venture builders in Europe, exits Duunitori, the largest Finnish job search and recruiting media, as part of the deal led by Intera Partners venture fund. Embria's return counts about 70x, making it the company's most successful venture investment so far.
As a result of the deal, Intera becomes a majority owner in Duunitori and forms a close partnership with the company to support further growth and internationalisation.
Duunitori was founded in 2009 by two friends Thomas Grönholm and Martti Kuusanmäki. Embria invested in Duunitory in 2015, shortly after both companies' representatives first met in Helsinki attending Slush. Embria was the biggest among Duunitory's external shareholders and the last one before the current deal.
In 2021 Duunitori officially became the largest job board and recruitment services provider in Finland. It has seen substantial growth over the past years and expanded its operations to Sweden under the name Jobbland. In the last five years, Duunitori's turnover has seen an average annual increase of 70 percent, with a turnover of €14 million in 2021.
"Our extensive experience in creating startups from scratch helps us recognise the potential in early-stage companies, seeing them through the eyes of an entrepreneur and not only an investor. It was a pleasure for us to work and exchange expertise with Duunitori's highly professional and motivated team through all these years, and I'm happy that Embria was a part of this highly successful journey," — comments Pavel Yakovlev, co-founder and co-CEO of Embria.
About Embria
Embria is a Cyprus-based venture builder that founds, funds and grows its own startups from scratch. Founded in 2007, Embria is one of Europe's most long-lasting and profitable venture builders. Being a founder of successfully operating companies like HypeAuditor, EdTech Holding, Datalead, Mobilipay and Red Panda Labs, Embria continues reinvesting profits and creating new ventures. It currently focuses on Well-being and Social verticals. Aside from startup building, Embria also acts as a venture investor, monetizing its expertise and supporting like-minded entrepreneurs. By 2021, Embria's combined portfolio of 20+ companies has generated €1.1Bn of total value with a 105% Internal Rate of Return. More information on https://embria.com.
SOURCE Embria
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