Paptic successfully closed EUR 27.5 million in growth financing in 2023
Summary
Paptic Ltd, a high-growth company manufacturing wood fibre-based packaging materials, has successfully completed the year 2023 with significant investment from new investors. Our growth is based on our ability to competitively serve international brand owners who are seeking sustainable alternatives to replace plastics in their packaging, Tuomas Mustonen, CEO and Co-Founder of Paptic, concludes. I am very satisfied with the result.The international flexible packaging market size is estimated to be over EUR 200 billion annually, with 70 percent of the materials currently used being plastics. www.ubfigg.comUB FIGG is a fund of United Bankers Plc, listed on Nasdaq Helsinki Ltd. United Bankers is a Finnish expert on wealth management and investment markets, established in 1986. www.unitedbankers.comEmerald Technology Ventures is a globally recognized venture capital firm founded in 2000, that manages and advises assets of over 1 billion from its offices in Zurich, Toronto, and Singapore. The European Investment Bank acts as an investment adviser to the EIC Fund.The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.