Where is Armada's headquarters located?

Armada's headquarters is located in Helsinki (Finland).

How big is Armada's investment team?

Armada has a team of 5, including 3 partners.

How many companies has Armada invested in?

Armada has invested in 25 companies, including Joe & The Juice & CTEK.

Which companies has Armada invested in lately?

ParkMan & DataCrunch are the latest investments by Armada.

What sectors does Armada focus on for investments?

Top sectors in Armada's portfolio are Enterprise Applications (5 investments) and HealthTech (3 investments).

How many exits has Armada been involved in?

Armada's portfolio has seen 1 IPO and 15 acquisitions.

Armada - 2026 Investor Profile, Portfolio, Team & Investment Trends

Armada, established in 2000, is a private debt fund primarily based in Helsinki, Finland. It specializes in financing Conventional Debt round of companies based in Sweden. Its portfolio includes 25 firms, spanning the Enterprise Applications, HealthTech sectors.

As of Jul 2026, Armada has witnessed 16 portfolio exits so far. Its most notable investments include companies like Joe & The Juice, CTEK and Crayon.

Its latest investment was a Undisclosed Seed round in ParkMan on Sep 09, 2025 along with Hawk.

Key Metrics

Founded Year

2000

Location

Helsinki, Finland

Portfolio Companies

Joe & The Juice, CTEK & 23 more

Sectors of Investment

Enterprise Applications, HealthTech & 16 more

Stages of Investment

Conventional Debt, Venture Debt & 1 more

Locations of Investment

Sweden, Norway & 3 more

View Armada's full profile

Armada has a portfolio of 25 companies. Their most notable investments include Joe & The Juice and CTEK.Their portfolio spans across Sweden, Norway, Finland and 2 more locations. They have invested in Enterprise Applications, HealthTech, Consumer and 15 other sectors, across stages such as Conventional Debt, Venture Debt and 1 more. Here is the list of top investments by Armada:

1. Joe & The Juice

Joe & The Juice is a food and beverage retail chain with stores located in 13 countries and currently expanding in Norway and Sweden. Their products include signature juices, shakes, coffee, sandwiches and meal bags.

Key facts about Joe & The Juice

Founded Year: 2002
Location: Copenhagen (Denmark)
Annual Revenue: $100M - $500M as on Dec 31, 2025
Last Known Valuation: $*****
Stage: Acquired
Total Funding till date: $322M
Employee Count: 3,096 as on Jun 30, 2026
Investors: General Atlantic, Valedo and 4 Others
Latest Funding Round: Series A, Apr 16, 2026, $*****
Highlight: Acquired

2. CTEK

Manufacturers of EV chargers and these chargers are majorly used for charging automotive batteries. .Since its founding, CTEK has sold about 6,2 million battery chargers in 70 countries around the world. The company provides battery chargers to a number of the world’s leading automobile manufacturers like Alfa Romeo, Arctic Cat, Audi, Bentley, BMW, Corvette, Ferrari, Lamborghini, Lexus, Maserati, Maybach, Rolls-Royce, Scania and Yamaha among others.Armada Mezzanine Fund had provided mezzanine financing in support of the Altor Fund's acquisition of CTEK Creator Group from FSN Capital in August, 2011.

Key facts about CTEK

Founded Year: 1997
Location: Vikmanshyttan (Sweden)
Stage: Acquired
Total Funding till date: $123M
Employee Count: 220 as on Jun 30, 2026
Investors: EQT, Latour and 1 Other
Latest Funding Round: PE, Sep 07, 2021, $*****
Highlight: Acquired

3. Crayon

Key facts about Crayon

Founded Year: 2002
Location: Oslo (Norway)
Annual Revenue: $50M - $100M as on Dec 31, 2024
Stage: Acquired
Total Funding till date: $12M
Employee Count: 2,935 as on Jun 30, 2026
Investors: Pratithi Investments, Niobrara Capital and 6 Others
Latest Funding Round: Series A, Jun 2018, $*****
Highlight: Acquired

4. ParkMan

ParkMan is an app that allows the user to find parking spaces in real-time and pay from within the app. Parkman also works with local municipalities and private providers to take their parking inventory online. User can also get information on nearby parking spaces from other users. App is available for iOS, Windows and Android platform.

Key facts about ParkMan

Founded Year: 2010
Location: Helsinki (Finland)
Stage: Seed
Employee Count: 29 as on Jun 30, 2026
Investors: Armada and 1 Other
Latest Funding Round: Seed, Sep 09, 2025, $*****

5. DataCrunch

Provider of cloud infrastructure for artificial intelligence model training and inference. The company offers GPU instances, instant clusters, bare-metal clusters, and serverless containers. Managed endpoints provide pre-configured API endpoints for model inference. The platform provides a web console, developer documentation, API, and native software development kit.

Key facts about DataCrunch

Founded Year: 2018
Location: Helsinki (Finland)
Stage: Series A
Total Funding till date: $77.5M
Employee Count: 13 as on Jun 30, 2026
Investors: Danske Bank, LahiTapiola and 11 Others
Latest Funding Round: Series A, Sep 08, 2025, $*****
Highlight: Editors' Pick

View the full list of portfolio companies

Armada has invested in 25 companies over the last 18 years, with an average of 1 new investment annually in the last 10 years. In 2025, it made 2 investments. Its most recent first time investment was in ParkMan.

Here are Armada's Year-on-Year Investment Trends:

Year	No. of Investments
Year	1^st Round	Follow-on	Total
2026 (YTD)	0	0	0
2025	2	0	2
2024	0	0	0
2023	0	0	0
2022	0	0	0
2021	0	0	0
2020	0	0	0
2019	2	0	2
2018	0	0	0
2017	1	0	1

View all investments by Armada

Armada has made 13 investments in Conventional Debt stage, 7 investments in Venture Debt stage and 1 investment in Seed stage.

Here are Armada's investments by stage:

Stage of entry	No. of Investments
Conventional Debt	13
Venture Debt	7
Seed	1

Note: We have considered here, only first round of investments

View all investments by Armada

Armada has a diverse portfolio, with companies operating in the Business Services, Consumer, Enterprise Applications, Auto Tech and FinTech. Notably, it has invested in 12 Enterprise (B2B) companies, 11 Tech companies, 7 Consumer (B2C) companies and at least 5 companies focusing on Software.

Here are Armada's investments by sector:

Sector	No. of Investments
Business Services	4
Consumer	4
Enterprise Applications	4
Auto Tech	2
FinTech	2
Others	19

Note: We have considered here, only first round of investments

View all investments by Armada

Armada has made most investments in Sweden (9), followed by Norway where it has made 5 investments.

Here are Armada's investments by geography:

Country	No. of Investments
Sweden	9
Norway	5
Finland	4
Denmark	2
United Kingdom	1

Note: We have considered here, only first round of investments

View all investments by Armada

Armada has not made any investment in 2026 so far.

Here are the most recent investments by Armada:

Filter this list

Date	Company	Location	Round Details	Round Amount	Co-Investors
Sep 09, 2025	ParkMan	Finland	Seed	1120	Hawk
Sep 08, 2025	DataCrunch	Finland	Conventional Debt	6925	Nordea [+3]
2019	Cordel	Norway	Conventional Debt	6661	-
Jul 08, 2019	Origo Group	Sweden	Conventional Debt	3237	-
2017	Prosero Security	Sweden	Conventional Debt	7822	-

See more recent investments made by Armada

1 of Armada's portfolio company became public - Linas Matkasse.

Here are Armada's portfolio companies that went public:

Filter this list

Company	IPO Date	First Invested on	First Round of Investment	Round Size
Linas Matkasse	-	Sep 29, 2015	Venture Debt	7189

View more details about public companies in Armada's portfolio

15 companies from Armada's portfolio have been acquired. The most recent acquisition was Silmäasema in Jun 2026 by Terveystalo for $*****.

Here are Armada's portfolio companies that got acquired most recently:

Filter this list

Company	Acquisition Date	First Invested on	First Round of Investment	Round Size
Silmäasema	Jun 08, 2026	Aug 22, 2014	Venture Debt	4833
Admincontrol	Mar 13, 2025	Apr 15, 2015	Venture Debt	5646
Crayon	Dec 19, 2024	2012	Conventional Debt	9242
Joe & The Juice	Nov 13, 2023	Dec 05, 2013	Conventional Debt	5495
Envirotainer	Jun 07, 2022	2009	Conventional Debt	4591

View all acquired companies in Armada's portfolio

Armada has a team of 5 members including 3 Partners located in Sweden and Finland.

Here is a list of all team members in Armada:

Name	Designation	Location	Contact Details
Jan Wiklund	Partner	-	1 Email
Ilkka Santti	Partner	Helsinki	1 Email
Johan Svaxen	Partner	Sweden	-

View team details of Armada

Over the past 18 years, 26 investors have co-invested in Armada's portfolio companies. This includes funds and angels.

Invested before Armada: Valedo, Oskari Saarenmaa and 9 others have invested in rounds before Armada. There are 3 companies where Valedo has invested before Armada and 1 company where Oskari Saarenmaa has invested before Armada.
Top Co-investors of Armada: 6 investors entered a company along with Armada. These include investors like Hawk (1 company).
Invested after Armada: A total of 9 investors have invested in Armada's portfolio after their investments. Top Investors include Europa (2 companies) and General Atlantic (1 company).