SP Growth Credit, a debt fund managed by SP Growth Partners Oy, has made a loan investment in Finnish technology company Jolla Mobile Oy. The loan will support Jolla's growth and the scaling of Jolla Phone production. According to SP Growth Partners, it is the fund's first loan investment. The amount was not disclosed.
Jolla develops Sailfish OS, a European Linux-based mobile operating system, and smartphones based on it. The company put the new Jolla Phone on pre-sale at the end of 2025 and began deliveries in July 2026, with more than 15,000 pre-orders.
Sami Pienimäki, Chief Executive of Jolla Mobile, said: "Jolla's revenue growth this year is more than 900% and SP Growth Credit's financing helps us respond to the demand that has grown quickly."
The European Investment Fund (EIF) is the anchor investor in SP Growth Credit with a €20m commitment to ease financing for Finnish growth companies, which helped the fund to a €34m first close in July 2026 against a €50m target. SP Growth Credit offers loans of €0.5m to €2.0m to profitable Finnish growth companies.
Matias Itkonen, Founding Partner at SP Growth Partners, said: "Jolla is an excellent example of a strongly growing international company, which is what our loan fund was established for and the kind of companies we want to grow with our investments."