We advised the OP Financial Group, Danske Bank, Aktia Bank and S-Pankki on a joint venture and corporate venturing negotiations in relation to an investment in DIAS Oy and related agreements.
DIAS Oy aims to develop a platform for digital transactions involving the Finnish housing market. Digital housing trade becomes possible when a housing company’s share register is digitalised and its ownership data is transferred to a register maintained by the National Land Survey of Finland.
DIAS Oy’s platform would be the first of its kind in the world and utilises blockchain technology. Tomorrow Tech Oy is collaborating with DIAS and the banks on the development of the platform.
The deal is a classic corporate venturing project where large corporations collaborate with growth companies on developing new business.