SOMA secures over EUR 1 million funding

The round was led by a substantial investment from public company Business Finland, with participation also from private angel investors.

“These funds will empower SOMA to continue [on] our strong growth trajectory,” saidJukka Hilmola, one of SOMA’s founders. “SOMA is in a very good position going forward.”

The Helsinki-based startup has created a social marketplace that integrates e-commerce, social interactions, and the tracking and authentication of items.

SOMA will initially focus on the high-end watch sector and has signed more than 50 watch brands for its social marketplace to be launched to a limited group in June and to the public in July.

“Our watchmaking partners have been willing to work with us to make this a success,” said co-founder Jacob Andra, who is based in Salt Lake City, Utah, and responsible for global growth. “They see the SOMA vision and want it to succeed.”

SOMA plans to open its series A funding round in 2020.

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is published by Finnfacts, which is part of Business Finland.