Finland capital

A Finnish venture capital firm led a Dutch startup’s €4m seed round

Helsinki-based venture capital firm Helen Ventures co-led the Dutch startup Solar monkeyis round with Eneco Ventures, who joined the journey to strengthen their sustainability mission with current investors, including 4impact capital and InnovationQuarter. Founded in 2015 by Jan Pieter Versluijs (CEO), Tino de Bruijn (CTO) and Mels van Hoolwerff (former CFO), Solar Monkey develops software that helps design, sell and service solar systems so that its users can accurately calculate the location of these systems. Development capital allows the startup to fuel its international expansion and strengthen the product offering.

Helen Ventures, the corporate venture capital arm of Helen Ltd., is investing €50 million in Europe’s most innovative and transformative startups in the energy, e-mobility, economy circular, decarbonization and digital solutions.

Terhi VapolaVice President, Director and Founder of Helen Ventures, explains the investor perspective. “We are very happy to invest in Solar Monkey. The company’s past growth speaks for itself. With rising energy costs and greater awareness of climate change, now is the perfect time to accelerate the scaling of solar solutions into new markets.

Helen Ventures, Solar Monkey, Eneco Ventures, Hans Coolhan coolChief Investment Officer of Eneco Ventures, sees Solar Monkey as a valuable addition to the portfolio. “We are excited about the innovative software that Solar Monkey has developed and see many synergies with other companies in our portfolio that are active in the energy market with solar panels and heat pumps.”

Helen Ventures, Solar Monkey, Jan Pieter Versluijs“We see that the Netherlands is at the forefront of solartech innovation in terms of software. We use our knowledge to generate impact in the rest of Europe. Thanks to this investment, we can pursue this ambition in high gear. Over the past five years, the Dutch market has experienced explosive growth, growing from 0.3 GWp to 2 GWp (~> 200,000 installations) per year. We hope to do the same in other countries, where the potential is still enormous! said Jan Pieter Versluijs.

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