Finnish pension insurance companies Ilmarinen and Elo have made a sizeable growth investment in QOCO Systems, a Juuri portfolio company that develops software for digitalising aviation maintenance. Juuri Partners will remain a significant minority owner as the company enters its next growth phase.
QOCO Systems is a fast-growing Finnish software company that provides AI- and data-driven SaaS solutions for the needs of aviation maintenance. Its customers include Rolls-Royce, Lufthansa, Safran Aircraft Engines, Finnair and several other international aviation players.
The financing round, carried out entirely with domestic capital, follows Juuri’s initial investment in 2024. Since then, QOCO has achieved substantial international growth, increasing its annual recurring revenue (ARR) almost fivefold.
“We hit the targets of our 2024 business plan ahead of schedule, which naturally brings new financing needs as we go after QOCO’s full international potential. We are delighted to have brought in Finnish capital and kept a highly promising growth company in domestic ownership,” says Markus Einiö, Partner at Juuri Partners.
The new funding is intended to accelerate international growth further. Expansion into the United States is already under way, with a local office opened earlier this year. The company also aims to strengthen its local presence in Europe and the Middle East. In addition, the financing will support the continued development of software that advances digitalization across the aviation maintenance industry.
Ilmarinen and Elo are long-term institutional investors with strong experience in backing SMEs in a phase of rapid growth. The size of the financing round will not be disclosed. Both new investors will hold minority stakes in the company, and Juuri Partners remains a key shareholder in QOCO Systems.
Further information:
Matti Nevala, CEO, QOCO Systems, +358 45 650 5720, matti.nevala@qoco.aero
Markus Einiö, Partner, Juuri Partners, +358 594 6363, markus.einio@juuripartners.fi
Juuri Partners Oy
Juuri Partners Oy’s team of 12 manages the private equity funds Juuri Rahasto I Ky and Juuri Rahasto II Ky, with combined assets of approximately EUR 200 million. The funds finance established and profitable small and medium-sized companies in Finland. Juuri Partners offers growth-oriented companies a form of financing and business development that combines active ownership with hands-on support for the business. The funds’ investor base consists of both Finnish and international institutional investors.
QOCO Systems Oy
QOCO Systems is a fast-growing aviation enterprise SaaS provider, delivering next-generation solutions on its Aviadex platform. QOCO’s offering covers the entire aviation maintenance space — asset lifecycle management, engine shop visits, and line and base maintenance — and supports OEM asset performance and digital aftermarket services. Today, Aviadex supports the critical maintenance operations of roughly 60 airlines, MROs and OEMs globally, including Rolls-Royce, Lufthansa, Safran Aircraft Engines, CTS Engines, TAP Portugal, Finnair, Endeavor Air and many others.
www.qoco.aero