Finnish tech stocks have struggled through the AI transition. Reaktor believes it can emerge as an exception.
The Finnish software and consulting company said today that it plans to list on Nasdaq Helsinki’s main market and raise roughly €20 million in new capital to fund growth in defense software, international expansion, and acquisitions.
Reaktor’s listing comes at an unusual moment. Helsinki has largely missed the AI listing wave that has swept through US markets, leaving Reaktor positioned as one of the first companies in Finland to test investor appetite for an AI-led equity story. Helsingin Sanomat described the company as “the first AI IPO on Fabianinkatu,” referring to the street where Finland’s stock exchange is located.
The IPO also comes during a difficult period for Finnish IT consulting stocks. Shares in Gofore have fallen roughly 38 percent over the past year, while Siili Solutions has dropped nearly 59 percent, reflecting broader investor concerns about slowing consulting demand and the long-term impact of AI on software development work.
Reaktor’s pitch goes beyond consultancy. Founded in 2000, the company has spent years building software for defense and security clients, alongside its traditional digital consulting business. Chief Executive Pekka Horo told Helsingin Sanomat that AI should become the company’s single largest growth driver in the coming years. “The need for different digital solutions and software will only grow,” he said.
The company’s recent numbers help explain the confidence. Revenue rose more than 30 percent year over year in the first quarter, helped partly by a NATO-related defense software agreement signed earlier this year.
Cornerstone investors, including Ilmarinen and Danske Invest’s Finnish Equity Fund, have already committed around €45 million in the planned offering at a pre-money valuation of up to €190 million.
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