Bregal Milestone, a leading European software growth private equity firm, has announced a majority strategic growth investment in CoreGo Oy. The Helsinki-based company is a prominent provider of open-loop payment systems and integrated technology solutions for major events across Europe. This partnership is designed to fuel CoreGo's continued market expansion and further develop its advanced event management platform.
Pioneering Event Technology Solutions
Founded in 2015 by Hannu Elomaa and Nikoteemu Väänänen, CoreGo has developed a highly differentiated technology suite for the live events industry. Serving approximately 250 customers, its CoreGo Cloud platform unifies payments, access, networks, and data into a single real-time operating system. This integrated approach provides event organizers with a comprehensive and reliable tool for managing complex, large-scale operations.
A key competitive advantage for CoreGo is its in-house private network capability, a unique feature among pure-play event technology providers in Europe. This technology ensures reliable, zero-downtime payment and data operations, which is critical in high-traffic environments. The system's robustness has been demonstrated at marquee events, including the Adele concert residency in Munich and Secto Rally Finland.
A Strategic Partnership for Growth
The investment from Bregal Milestone highlights CoreGo's significant market potential and proven track record. Cyrus Shey, Co-Founder and Managing Partner at Bregal Milestone, praised CoreGo as the infrastructure of choice for many of Europe’s most demanding live events. He noted the company's strong customer retention and ability to operate at scale as clear indicators of its superior offering.
Shey also pointed to the early stages of open-loop payment adoption across European live events, positioning CoreGo to lead this technological shift. The partnership aims to capitalize on this trend, accelerating the company's growth and solidifying its market leadership. Bregal Milestone's expertise will be crucial in guiding CoreGo through its next phase of international expansion and product innovation.
Fueling Innovation and Expansion
CoreGo's impressive financial performance, including over 98% year-on-year profitable revenue growth and gross margins above 85%, made it a compelling investment. This new capital will support the company's strategic initiatives for European expansion through commercial partnerships with global platforms. The funding will also be directed toward advancing AI capabilities within its digital solutions and expanding its product suite.
Hannu Elomaa, Founder and CEO of CoreGo, expressed his enthusiasm for the new partnership and its potential to elevate the company. He stated that Bregal Milestone provides the necessary backing and expertise to take the bootstrapped company into new markets. This collaboration will enable the team to focus on developing the next generation of their industry-leading platform.
This strategic investment marks a significant milestone for CoreGo, providing the resources to accelerate its impressive growth trajectory and enhance its technological leadership. The partnership with Bregal Milestone, which includes the founding management team, is set to redefine the standards for event technology across Europe. While the specific terms of the transaction were not disclosed, the collaboration signals a new era of innovation for the Finnish firm.