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OP Financial Group company logo
Diversified Financial Services
FINANCIAL | Asset/Financial Management
op.fi

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Investments

12

Portfolio Exits

4

Funds

2

Partners & Customers

9

About OP Financial Group

OP Financial Group is Finland's largest financial services group. It provides its customers with the best loyalty benefits and the most extensive and diversified range of banking, investment and insurance services. The Group has three business segments: Banking, Non-Life Insurance, and Wealth Management.

OP Financial Group Headquarter Location

Finland

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CB Insights Intelligence Analysts have mentioned OP Financial Group in 1 CB Insights research brief, most recently on Sep 22, 2021.

Latest OP Financial Group News

OP Corporate Bank plc’s partial demerger approved

Sep 23, 2021

OP Cooperative, the only shareholder of OP Corporate Bank plc, has approved the partial demerger of OP Corporate Bank as specified in the demerger plan signed on 2 July 2021. According to the plan, the shares of Pohjola Insurance Ltd, OP Corporate Bank plc’s subsidiary engaged in non-life insurance business, will be transferred to the direct ownership of OP Cooperative. The planned date for registration of the implementation of the demerger is 29 November 2021. The aim of the demerger plan is to streamline the structure and governance of OP Financial Group’s central cooperative consolidated and to simplify its management structure. After the partial demerger, OP Corporate Bank plc will be engaged in corporate banking and central bank business. The arrangement will have no effect on OP Financial Group’s capital adequacy, earnings or business segments, nor will it affect the joint liability of member credit institutions under the Finnish Act on the Amalgamation of Deposit Banks. OP Corporate Bank plc LSE London Stock Exchange op.fi OP Financial Group, which has two million owner-customers and over 12,000 employees, is Finland’s largest financial services group. We provide a comprehensive range of banking and insurance services for private and corporate customers. OP Financial Group consists of OP cooperative banks, its central cooperative OP Cooperative, and the latter’s subsidiaries and affiliates. Our mission is to promote the sustainable prosperity, security and wellbeing of our owner-customers and operating region. OP Corporate Bank and OP Mortgage Bank are responsible for OP's funding in money and capital markets. As laid down in the applicable law, OP Corporate Bank, OP Mortgage Bank, their parent company OP Cooperative and other OP Financial Group member credit institutions are ultimately jointly and severally liable for each other’s debts and commitments. OP Corporate Bank acts as OP Financial Group's central bank. www.op.fi

OP Financial Group Investments

12 Investments

OP Financial Group has made 12 investments. Their latest investment was in Verto Analytics as part of their Series B on January 1, 2020.

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OP Financial Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/21/2020

Series B

Verto Analytics

$16M

Yes

6

11/14/2019

Series A

Glue Collaboration

$3.86M

Yes

6

10/10/2019

Loan

P27 Nordic Payments

Yes

2

10/1/2019

Loan

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$99M

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10

8/23/2018

Debt - II

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$99M

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10

Date

1/21/2020

11/14/2019

10/10/2019

10/1/2019

8/23/2018

Round

Series B

Series A

Loan

Loan

Debt - II

Company

Verto Analytics

Glue Collaboration

P27 Nordic Payments

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Amount

$16M

$3.86M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

6

6

2

10

10

OP Financial Group Portfolio Exits

4 Portfolio Exits

OP Financial Group has 4 portfolio exits. Their latest portfolio exit was Spinnova on June 24, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/24/2021

IPO

2

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

Date

6/24/2021

00/00/0000

00/00/0000

00/00/0000

Exit

IPO

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Companies

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Valuation

Acquirer

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Sources

2

10

10

10

OP Financial Group Fund History

2 Fund Histories

OP Financial Group has 2 funds, including OP Financial Group Infrastructure Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/13/2021

OP Financial Group Infrastructure Fund

$186.13M

1

7/17/2020

OP Financial Group I

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$99M

10

Closing Date

8/13/2021

7/17/2020

Fund

OP Financial Group Infrastructure Fund

OP Financial Group I

Fund Type

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Status

Amount

$186.13M

$99M

Sources

1

10

OP Financial Group Partners & Customers

9 Partners and customers

OP Financial Group has 9 strategic partners and customers. OP Financial Group recently partnered with CGI Group on February 2, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

2/18/2021

Vendor

CGI Group

Canada

CGI And OP Financial Group Expand Partnership To Include Digital Services For Insurance

Since 2013 , the partnership between CGI and OP Financial Group has grown to include more than 600 CGI professionals working for OP Financial Group .

4

11/23/2020

Partner

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10

11/20/2019

Vendor

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10

12/13/2017

Licensor

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10

12/11/2017

Partner

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10

Date

2/18/2021

11/23/2020

11/20/2019

12/13/2017

12/11/2017

Type

Vendor

Partner

Vendor

Licensor

Partner

Business Partner

CGI Group

Country

Canada

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News Snippet

CGI And OP Financial Group Expand Partnership To Include Digital Services For Insurance

Since 2013 , the partnership between CGI and OP Financial Group has grown to include more than 600 CGI professionals working for OP Financial Group .

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Sources

4

10

10

10

10

OP Financial Group Team

13 Team Members

OP Financial Group has 13 team members, including current Chief Executive Officer, Timo Ritakallio.

Name

Work History

Title

Status

Timo Ritakallio

Ilmarinen Pension Insurance, and OKO Bank

Chief Executive Officer

Current

Vesa Aho

Chief Financial Officer

Current

Sami Luokkamäki

Senior Vice President

Current

Kaisu Christie

Senior Vice President

Current

Soli Alho

Owner

Current

Name

Timo Ritakallio

Vesa Aho

Sami Luokkamäki

Kaisu Christie

Soli Alho

Work History

Ilmarinen Pension Insurance, and OKO Bank

Title

Chief Executive Officer

Chief Financial Officer

Senior Vice President

Senior Vice President

Owner

Status

Current

Current

Current

Current

Current

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