How many total SaaS companies are there in Nordics?

As of August 2026, Nordics has 7451 active SaaS companies.

How many SaaS companies in Nordics are funded?

As of August 2026, 2156 companies have received funding in this sector.

What is the total funding raised by SaaS companies in Nordics?

SaaS companies in Nordics have collectively raised $22.4B in funding till date.

Who are the top investors in SaaS companies in Nordics?

The top investors in SaaS companies in Nordics by number of investments are Felicis Ventures and Almi Invest.

Which is the highest funded SaaS company in Nordics?

As of August 2026, Tradeshift has raised $1.24B in funding, highest among the funded SaaS companies in Nordics.

How many SaaS unicorns are there in Nordics?

Nordics has produced 10 unicorns in the SaaS sector till date.

List of 8,515 SaaS Startups in Nordics & Market Trends (Aug 2026)

The SaaS sector in Nordics comprises 8.52K companies, including 2.16K funded companies having collectively raised $22.4B in venture capital money and private equity. Out of these, 1.2K are Series A+ funded, and 10 have achieved unicorn status.

SaaS sector in Nordics has seen 636 acquisitions and 256 IPOs. This represents almost 10.5% of all such companies - which is higher than the 4.3% exit rate of tech companies in general.

This sector includes companies providing cloud-based, multi-tenant and subscription or on-demand B2B software applications.

SaaS sector is also known as SaaS Solutions, Advanced SaaS or Digital SaaS.

All B2B software that offers cloud-based, multi-tenant solutions for business functions like Marketing, HR, Sales, Business Intelligence, etc are included in this sector. 1. All On-premise B2B software are excluded. 2. All companies that do not offer their own proprietary software are excluded. 3. Services and Consulting firms are also excluded. 4. Resellers are also excluded.

Key Metrics

Total Companies

8.52K

Top Companies

Visma, Sinch & more

Total Funding

Funded Companies

Series A+ Companies

Series C+ Companies

Unicorns Created

IPOs

256

Acquisitions

636

Also known as

SaaS Solutions or Advanced SaaS

View complete details of this sector

There are 8,515 SaaS startups in Nordics which include Visma, Sinch, Pleo, RELEX, Monta. Out of these, 2,156 startups are funded, with 1,200 having secured Series A+ funding, and 10 achieving unicorn status.

2026 has seen the creation of 489 SaaS startups in Nordics. Over the past 10 years, an average of 414 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Aalto University, Stanford University and Copenhagen Business School.

1. Visma

Developer of cloud software for business management and accounting tasks. These applications facilitate financial administration, resource planning, and digital documentation for various organizations. The software suites assist with invoicing, electronic signatures, and operational workflows. These tools support administrative processes for small businesses, medium enterprises, and public sector entities.

Key facts about Visma

Founded Year: 1996
Location: Oslo (Norway)
Stage: Acquired
Total Funding till date: $198M
Investors: GIC, General Atlantic and 27 Others
Latest Funding Round: Unattributed, Sep 09, 2021, $*****
Tracxn Score: 82/100 What is this?
Competitors Rank: 1 of 151 Competitors

2. Sinch

Provider of customer communications management platform. It streamlines customer communication across message, voice, and email channels. It enables users to create and send personalized mobile message campaigns to the customers. It offers an omnichannel API to engage customers with personalized conversations on different channels. Features include verification APIs, video calling, and more.

Key facts about Sinch

Founded Year: 2008
Location: Stockholm (Sweden)
Stage: Public
Total Funding till date: $12M
Investors: Index Ventures, SoftBank Group and 8 Others
Latest Funding Round: Post IPO, Sep 30, 2021, $*****
Tracxn Score: 80/100 What is this?
Competitors Rank: 3 of 4,999 Competitors

View full list of companies in this sector

3. Pleo

Provider of spend management platform with virtual and physical card options. The platform offers tools for business cards, expense management, accounts payable, and reimbursements. It provides features such as spend limitations and vendor cards for managing recurring payments. The platform also integrates with other business tools to streamline workflows.

Key facts about Pleo

Founded Year: 2015
Location: Copenhagen (Denmark)
Stage: Series C
Total Funding till date: $434M
Investors: Creandum, Kinnevik and 15 Others
Latest Funding Round: Conventional Debt, May 02, 2024, $*****
Tracxn Score: 80/100 What is this?
Competitors Rank: 1 of 123 Competitors

4. RELEX

Provider of unified platform for retail and supply chain planning. The platform offers solutions for demand planning, manufacturing planning, and distribution planning. It facilitates collaboration across the supply chain, including inventory and replenishment management. The platform also provides tools for retail operations, space and assortment planning, and pricing and promotions.

Key facts about RELEX

Founded Year: 2005
Location: Helsinki (Finland)
Stage: Series D
Total Funding till date: $816M
Investors: Summit Partners, TCV and 4 Others
Latest Funding Round: Series D, Dec 11, 2024, $*****
Tracxn Score: 76/100 What is this?
Competitors Rank: 1 of 2,105 Competitors

5. Monta

SaaS-based platform for charging station management. Its platform allows users to customize electric vehicle charging points according to charging needs. It provides solutions for workplace charging, fleet charging, commercial charging, residential charging, and others. It offers product suite that serves as a command center for EV charging operations, including charge point management, financial operations, access control, and fleet management.

Key facts about Monta

Founded Year: 2020
Location: Copenhagen (Denmark)
Stage: Series B
Total Funding till date: $142M
Investors: Energize Capital, Creandum and 11 Others
Latest Funding Round: Series B, Dec 19, 2023, $*****
Tracxn Score: 75/100 What is this?
Competitors Rank: 1 of 536 Competitors

Access the full list of 8,515 SaaS Startups in Nordics

Companies founded year-on-year in the SaaS sector in Nordics

489 new startups have been founded so far in 2026 in the SaaS sector in Nordics. 559 SaaS startups in Nordics were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.

Total Number of Companies

Year	No. of companies
2026	489
2025	198
2024	236
2023	353
2022	395
2021	528
2020	559
2019	472
2018	467
2017	443

Stage-wise distribution of SaaS sector companies in Nordics

Out of the total 8,515 SaaS companies in Nordics, 2,156 have secured funding. Among them, 1,200 have reached Series A or higher, and 999 to Series B or beyond.

Founded - 8,515

Funded - 2,156

Series A+ - 1,200

Series B+ - 999

Series C+ - 947

Company Stage	No. of companies
Founded	8,515
Funded	2,156
Series A+	1,200
Series B+	999
Series C+	947

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Total funding year-on-year in the SaaS sector in Nordics

The SaaS sector in Nordics saw a total funding of more than $19.5B in the last 10 years. The most amount of funding was in 2021 at more than $4.97B. There has been a total funding of $1.23B in 2026 till date.

Total Funding

Year	Total Funding
2026	$1.23B
2025	$2.96B
2024	$1.16B
2023	$1.14B
2022	$2.54B
2021	$4.97B
2020	$2.61B
2019	$1.23B
2018	$1.06B
2017	$628M

Recent Funding Rounds in SaaS in Nordics

In the year 2026, till August 2026, SaaS companies in Nordics have raised $992M in equity funding across 80 rounds. In the same period last year (i.e. till August 2025), SaaS companies in Nordics had raised $547M across 92 rounds. So, 2026 has seen a 81.4% rise in funding in SaaS companies in Nordics as compared to 2025.

Here are some recent, important funding rounds in SaaS companies in Nordics:

Company	Round Raised	Amount Raised	Funding Date	Investors
os.energy	Seed	6947	Aug 26, 2026	PSV Deeptech
Qarma	PE	6984	Aug 13, 2026	Resurgens Technology Partners
Strgy AI	Angel	7726	Aug 12, 2026	Innovestor
Lovable	Series C	5327	Aug 12, 2026	Menlo Ventures and 13 more
Visoid	Seed	2443	Aug 10, 2026	Skyfall Ventures and 5 more

See a more detailed list of funding rounds

Felicis Ventures is the top investor in SaaS companies in Nordics based on number of companies invested.

Here are some top investors in SaaS companies in Nordics:

Investor	Location	Top Portfolio Companies
Felicis Ventures	Menlo Park (United States)	Ultimate
Almi Invest	Lund (Sweden)	Neo4j, Spiideo, Trialbee and Limina
EQT	Sweden	Epidemic Sound, Einride, Lovable and Fortnox
Creandum	Stockholm (Sweden)	Pleo, Monta, Epidemic Sound and Neo4j
Everywhere	New York City (United States)	Twice and Stackend

See a more detailed list of investors

In the year 2026, till August 2026, 20 acquisitions happened in SaaS sector in Nordics. Last year, in 2025, a total of 73 acquisitions happened in SaaS sector in Nordics.

Here are some recent, important acquisitions in SaaS sector in Nordics:

Company	Acquisition Type	Acquisition Date	Acquirers
Cint	Business Acquisition	Aug 19, 2026	Triton Partners
Queue-it	Business Acquisition	Aug 18, 2026	Thomas H Lee Partners
D4	Business Acquisition	Aug 11, 2026	We Komply
Accurate	Business Acquisition	Aug 04, 2026	-
BuddyCare	Business Acquisition	Jul 13, 2026	VitalHub

See a more detailed list of acquisitions

Acquisition trends in SaaS sector in Nordics

Here are the acquisition trends in SaaS sector in Nordics:

Total Number of Acquisitions

Year	No. of companies
2026	20
2025	73
2024	67
2023	60
2022	73
2021	80
2020	62
2019	43
2018	30
2017	45

In the year 2026, till March 2026, 1 IPO happened in SaaS sector in Nordics.

Here are some recent, important IPOs in SaaS sector in Nordics:

Company	IPO Date	Exchange Symbol
Smartcraft	Mar 24, 2026	Stockholm Stock Exchange (STO)
H100 Group	Apr 23, 2025	Nordic Growth Market (NGM)
Pharmacolog	Apr 23, 2024	Stockholm Stock Exchange (STO)
LumenRadio	Dec 09, 2022	Stockholm Stock Exchange (STO)
Skolon	May 20, 2022	Nasdaq First North (FIRST NORTH NORWAY)

See a more detailed list of IPOs

Companies founded by alumni from top colleges in the SaaS in Nordics

Most number of SaaS startups in Nordics have been founded by alumni from Aalto University, Stanford University and Copenhagen Business School.

College	No. of companies
Aalto University	39
Stanford University	14
Copenhagen Business School	11
London School of Economics and Political Science	7
Harvard University	6
INSEAD	6
Massachusetts Institute of Technology	6
University of California (Berkeley)	6
Imperial College London	5
KTH Royal Institute of Technology	5

Total funding in SaaS companies founded by alumni from top colleges in Nordics

In the last 10 years, Stanford University graduates' SaaS companies in Nordics have raised the most funding among top colleges. KTH Royal Institute of Technology alumni are second, and Hong Kong University of Science and Technology (HKUST) alumni are third.

College	Total Funding
Stanford University	$2.26B
KTH Royal Institute of Technology	$1.07B
Hong Kong University of Science and Technology (HKUST)	$1.05B
Aalto University	$947M
Chalmers University of Technology	$892M
University of Gothenburg	$892M
University of Pennsylvania	$476M
Wharton School	$476M
Massachusetts Institute of Technology	$226M
Stanford Business School	$214M