Summa Equity is a proud investor in Fastroi and myneva
Summa deal team member, Pekko Kolehmainen, details why Summa is backing myneva and Fastroi in their journey to simplify care.
Summa was proud to have been able to partner with Fastroi in 2022, acquiring it as a part of myneva, one of the leading European Social Care Software providers. What made us seek out Fastroi was our shared values and goals, their strong and motivated team, and the fantastic products they have out on the market and in development. Let’s break down what we look for in potential portfolio companies, and how that compares to what Fastroi and myneva are doing today.
Software aids the systematic pressures of ageing population
We at Summa see today’s challenges as opportunities. The rapidly developing world constantly imposes new social and environmental challenges. We seek to be a part of the solution by investing in companies that actively work to solve these challenges to create a prosperous, safe, and future-proof society for everyone. We measure our contribution to positive impact by the UN’s Sustainable Development Goals (SDGs) across our three investment themes – Resource Efficiency, Changing Demographics, and Tech-enabled Transformation. Fastroi and myneva sit squarely in our sweet spot: providing software to aid the systematic pressures from an ageing population and contributing towards several of the SDGs.
Software gives caregivers more time with the patient
The software provided by Fastroi and myneva contributes to better physical and mental health (SDG #3.4/3.5), and promotes and supports inclusion and equal opportunity regardless of disability or sickness through care (SDG #8.5 and #10.2/#10.3). Looking at elderly care, we can expect that the proportion of people aged 80 or above in 2070 will approach a whopping 13%, up from 4.9% in 2016. Simultaneously, long term care expenditure is expected to increase by 70% in the same timeframe. Additionally, the prevalence of mental health disorders continues to create challenges across elderly, mental, and youth care. The COVID-19 pandemic alone triggered a 25% increase in anxiety and depression worldwide. We are convinced that tackling these demographic changes is impossible without software that gives caregivers more time with the patient and enables hybrid care conditions such as outpatient care.
Fastroi has ambitious and caring employees
Finally, Fastroi amazed us from day one with their highly ambitious and caring employees, Fastronauts, who were creating software as it should be done. When we spoke to Fastroi’s customers they praised the solution’s ease-of-use and connectivity. It stood out as a solution built with the end users in mind. In the end that’s what matters for myneva – helping caregivers spend more time with their patients rather than wrestling with complex software.