When your own country is not big enough, you should go international. Team Finland LetsGrow finansing programme helps Finnish SMEs, such as Bilot, to new global growth paths.
Founded in 2005 in Helsinki, Bilot is a software company that develops information systems based on SAP and Microsoft business software, and provides related consultancy services. Bilot supplies to its customers, which include Kesko, Ruukki, Metso and Posti, online shopping, mobile, pricing, CRM and business information solutions.
Since it was founded, Bilot has been a profitable growth company. Annual growth has averaged 50 per cent, and growth has so far been organic without venture capital. Last year's net sales totalled EUR 15 million.
In recent years Bilot has grown in Finland mainly by taking its competitors' market shares. They do not believe, however, that the Finnish market will be sufficient for their growth potential. That is why Bilot is expanding abroad. International growth is based on their own product design and development, creating marketable products, and development of global sales, distribution and delivery channels. The first concrete step was taken in the spring of 2014 when Bilot established its first foreign subsidiary in Poland.
Team Finland's funding and services assisted in the growth of the company, which now employs 120 people.
The Team Finland LetsGrow finansing programme provides SMEs that have growth potential with Finnvera's unsecured loan, Tekes' grant for innovation services and Finpro's expert services for companies going international. LetsGrow enabled Bilot to enter a fast track towards international operations.
"Expanding abroad takes plenty of your own and external resources, and is obviously more susceptible to risk than in your home country. Without external funding, it would be much slower, if not impossible, to implement an internationalisation plan. LetsGrow funding is used, among other things, as working capital necessary for internationalisation, market surveys, legal and internationalisation counselling, and for the tying of partnerships," says Bilot's Toni Haapakoski.
For further information, please contact
Tel. +358 50 442 0008
toni.haapakoski (at) bilot.fi