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The best country for female founders
VCs in Finland back the most female founders, the startup creating a better version of elder care, and more...
SearchVentures
March 05, 2025
Finland leads in female entrepreneurship
Finland led Europe in VC funding for women-founded startups in 2024, with 30% of the country’s total funding going to companies led by women.
What is driving this trend?
This Week’s Trends
Finland leads in female entrepreneurship
The Finnish startup changing elder care
Quantexa raises $175 million and more
Read Time 3 minutes
The Startup Trend
% of VC funding in women-founded startups
Finland had the highest proportion of VC funding in women-founded startups in Europe, with 30% of total VC funding going to companies led by women.
> The UK still received the highest amount of funding in Europe raised by female founders, accounting for 27% of the total funding.
> The proportion of funding going to women-founded startups in the Nordics is significantly higher than in major startup hubs like the UK, France, and Germany.
💡 The share of total VC funding for female-founded startups remained at 12%, consistent with the previous year, 33% of the funding went to deeptech startups.
Startup Feature
Gubbe is Building a New Model for Elderly Care
Co-Founders Sandra Lounamaa & Meri-Tuuli Laaksonen
Gubbe, a Finnish startup founded in 2018 by Sandra Lounamaa and Meri-Tuuli Laaksonen, is changing traditional elderly care by connecting seniors with young companions. This model tackles the growing issue of loneliness among the elderly while providing meaningful employment opportunities for the next generation.
A Personal Mission to Solve Elderly Loneliness
The idea for Gubbe was inspired by Sandra’s experience trying to find companionship for her grandmother. Realizing the lack of options, she partnered with Meri-Tuuli, who has a background in health sciences, to build a solution. Gubbe, meaning buddy in Finnish, was created to provide seniors with social interaction, assistance with daily tasks, and a better quality of life.
“When I saw how hard it was for my grandmother to find someone to spend time with, I knew there had to be a better way.”
Gubbe’s platform matches seniors with young helpers based on shared interests, creating lasting relationships that go beyond traditional caregiving. This model emphasizes social connection and emotional support, helping older adults combat loneliness without the isolation typical of retirement homes.
“We wanted to create something that goes beyond caregiving. It’s about building real, lasting connections between generations.”
Revenue for Gubbe is generated through several streams. These include direct-to-consumer services, partnerships with businesses offering elderly care benefits, and municipal contracts aimed at supporting older citizens. In 2022, Gubbe reported 1.8 million euros in revenue, reflecting monetizable demand for its services.
Expanding with Finnish Investor Backing
Gubbe’s unique model has attracted significant investor support. In 2022, the startup raised four million euros in funding from Spintop Ventures and Tesi. This financial backing has allowed Gubbe to expand its services into Sweden, the UK, and Japan.
“Our goal is to grow Gubbe into a billion-dollar startup by making our model accessible to seniors worldwide.”
With its unique approach and a female-led team, Gubbe has earned a spot on WIRED’s list of Europe’s hottest startups for two consecutive years. As Gubbe continues to expand, the startup is set on reshaping the future of elderly care, combining innovation with empathy to create lasting, positive impacts for both seniors and younger generations. Whether this new form of elderly care is a sustainable business model remains to be seen.
“We aim to change the way the world thinks about elderly care, one connection at a time.”
Sponsored by Analytica Investor
Crypto Order Sparks National Digital Asset Focus
A newly signed executive order aims to build a national digital asset stockpile, highlighting the strategic potential of blockchain. DeFi Technologies Inc. (US: DEFTF & CAD: DEFI.NE) stands at the forefront by offering regulated exchange traded products that simplify digital asset access. As the U.S. takes strides in crypto policy, discover how DeFi’s approach may align with this emerging infrastructure.
Headline News
This Week In Startups ✍️
Founders
> Unicorn Flo Health is on the hunt for startups to acquire, as it looks to expand into new health verticals and ramp up revenue following $200 million fundraise.
> Quantexa, a financial crime fighting AI startup, raises $175 million, boosting valuation to $2.6 billion to pursue M&A opportunities.
> Magdrive, an Oxfordshire-based spacetech, has raised $10.5 million seed funding round led by pan-European VC Redalpine for space propulsion systems.
Investors & VCs
> Araya Ventures’ solo GP closes in on first fund of £20 million. The firm has its own angel academy, which trains women to become investors
> Thoma Bravo, a US private equity firm, has closed a €1.8 billion fund to target European software companies.
> Fund F, an Austrian VC firm closes €28 million fund to back gender-diverse fouding teams, surpassing its initial target of €20 million.
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Cheers,
Odin Lund & Hari Mohandas
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