Greenstep to build a new end-to-end, automated fund services platform for the European market
Greenstep has acquired 100 percent of the shares of Rundit Oy to strengthen its position in the European fund services market. The acquisition marks a new kind of strategic move for Greenstep, a company that has grown almost entirely through organic expansion until now.
Rundit is known for its modern, agile reporting and portfolio platform and its highly skilled software development team. By combining Rundit’s technology with Greenstep’s fund services expertise, the company will create a new end-to-end solution that enables highly automated and transparent fund back-office operations.
“Our goal is to build the most automated and highest-quality fund back office on the market.”
The ambition is to scale the new solution across Europe and significantly grow Greenstep’s market share in the rapidly evolving fund reporting landscape.
With this acquisition, the two sides of fund reporting – investor and portfolio reporting on the frontend, and fund accounting and related processes on the back office – are brought together for the first time into one seamless end-to-end solution. Rundit’s modern platform and development team compliment Greenstep’s existing technology and expertise, enabling fund data and reporting to flow across the entire process without siloed systems.
“We have been developing our fund services in a focused and structured way for nearly a decade, and we have become the market leader in VC fund back-office services in Finland. This acquisition is a natural continuation of that development and strengthens our position as a comprehensive service provider,” says Minna Riihimäki, Head of CFO External Reporting Services at Greenstep.
What makes Greenstep’s offering unique is the combination of technology with deep specialist services. In addition to a modern software stack, clients gain access to fund advisory, tax and legal services, KYC processes and other essential expertise that software companies typically do not provide. This combination does not exist elsewhere in Europe.
Taija Heittola, Partner and Business owner of the Fund Services at Greenstep, emphasizes the customer value of the combined offering:
“The acquisition of Rundit is a natural next step in the development of Greenstep’s fund services. By combining data, technology and the expertise of our fund team, we can offer a leading end-to-end solution. For our clients, this means a seamless service that responds even better to growing reporting demands and the requirements of digitalisation.”
Jori Karstikko, Founder and CEO of Rundit, sees the combination as a turning point for the industry.
“Greenstep’s acquisition of Rundit is a defining moment for our customers and a major step forward for fund services globally. With customers in over 40 countries, Rundit has developed a modern, agile platform for portfolio and investor reporting, supported by a highly skilled development team.
By combining our innovative technology with Greenstep – one of Northern Europe’s largest fund administrators, with deep expertise in fund accounting and operations – we are creating a fully integrated, end-to-end solution that delivers unmatched automation, transparency and efficiency across the fund lifecycle.
This partnership positions us to scale across Europe, shaping the next generation of fund services that seamlessly unites technology with expert service.”
Jonathan Teir, Head of Technology Development at Greenstep, explains why Rundit was the missing piece in Greenstep’s growth journey:
“Rundit’s strength lies in its exceptional software team and modern technology platform. They have built a solution that is scalable from day one and integrates with our own technology. When we combine this with Greenstep’s fund expertise, we can significantly raise the level of automation and build the most modern fund back office in Europe.”
Moving together toward Europe’s leading fund services platform
With the acquisition, Greenstep takes a significant step toward its goal of becoming the leading moderniser of fund services in Europe. The new concept brings together data, technology and deep expert services in a way that has not been seen in the market before.
For more information:
Jonathan Teir, Head of Technology Development, Greenstep
+358 44 272 3224
jonathan.teir@greenstep.fi
Jori Karstikko, Founder and CEO, Rundit
+358 45 151 771
jori@rundit.com
About Greenstep
Greenstep is a European professional services company supporting growth-oriented organisations with financial administration, advisory and technology-enabled services. The company combines modern technology, automation and deep expert knowledge to help clients build scalable, transparent and compliant operations.
Founded in Finland, Greenstep has grown primarily through organic expansion and today operates across multiple European markets, serving companies, funds and public organisations.
About Rundit
Rundit is a portfolio management and investor reporting platform built for venture capital, private equity, and other professional investment firms. The platform helps investors centralize portfolio data, automate the collection of company updates, and streamline LP reporting across funds and portfolios.
With features such as automated KPI extraction from update emails, multi-currency support, cash flow and runway tracking, and real-time portfolio insights, Rundit reduces manual work while improving data accuracy and visibility for investment teams.
