Espoo, Finland, 5 November 2026 – Panostaja Oyj has signed an agreement to make a significant investment in Inclus Oy, a Finnish SaaS company specialising in participatory enterprise risk management. The investment will support Inclus’s growth strategy, with a focus on accelerating international expansion while continuing strong growth in Finland.
Panostaja’s total investment is approximately EUR 3.9 million. Following the transaction, Panostaja will hold an approximately 48% ownership stake in Inclus. Inclus founders, Mikaeli Langinvainio and Juha Törmänen, will continue in key roles at Inclus and remain significant minority shareholders alongside other key personnel.
Inclus provides cloud-based software that helps organisations make risk management more collaborative, structured and actionable.
Inclus serves more than 50 customers, including large companies across several industries and public sector organisations.
“Inclus has reached an important stage in its journey. We have built a strong customer base and a scalable SaaS solution, and now is the right time to take our international growth to the next level.”
Mikaeli Langinvainio, CEO of Inclus
“Panostaja brings experience in developing growth companies and scaling software businesses. We share a long-term ambition to build Inclus into one of Europe’s leading enterprise risk management solutions. This investment gives us stronger resources to develop our product, support our customers and grow in Northern Europe”, Mikaeli continues.
The risk management software market is being shaped by growing uncertainty, changing operating environments and increasing regulatory and reporting requirements. Inclus will continue to develop its solution for organisations seeking a practical and participatory approach to enterprise risk management, including the responsible use of AI in risk processes.
“Risk management is becoming increasingly important for organisations of all sizes. We aim at making risk management easier to involve people in, more useful for decision-making, and better connected to everyday business.”
Juha Törmänen, CTO and Co-founder of Inclus
Panostaja is an active owner and investment company focused on developing growing service and software companies. Inclus will become a new portfolio company for Panostaja.
Further information
Mikaeli Langinvainio
CEO, Inclus Oy
+358 40 837 3940
About Inclus
Inclus is a Finnish SaaS company specialising in participatory risk management, particularly Enterprise Risk Management. Inclus cloud-based software helps organisations identify, assess, manage and communicate risks in a structured and collaborative way. Inclus supports customers across industries in Europe and beyond.