Sesame Summit 2026 – application open

Tom Henriksson - OpenOcean

Meet OpenOcean: From MySQL Roots to Backing Tools That Help Enterprises Adopt AI

Finland is known for putting the younger generation at the forefront of its tech scene, and its iconic Slush conference is run by students. But it doesn’t forget the people who put the country on the startup map, such as seasoned venture capitalist Tom Henriksson.

Now a general partner at pan-European VC firm OpenOcean, Tom has been involved with venture investing and startups since the mid-nineties, with some notable successes.

In particular, he and his current partners played a pivotal role in the creation and growth of MySQL. “And we had an amazing exit in 2008 to Sun Microsystems,” he recalled. The one billion exit “was one of those early European unicorn stories,” and led to the creation of OpenOcean.

With offices in Helsinki and London, the firm has grown its funds incrementally since its early days. “In April we had a first close of our fourth fund, about €100 million, and we’re trying to get to €135 million,” Tom said.

In a conversation recorded during Slush 2024, Tom talked about MySQL and his later involvement with MariaDB and Nokia, but also about his interest in data-intensive software.

While its meaning has evolved in the age of AI, data-intensive software is still a key area of focus for OpenOcean, alongside intelligent enterprise automation and marketing tech (martech).

Where OpenOcean is investing

OpenOcean’s strategy is influenced by the awareness that the foundational layer of AI is being built by companies such as Mistral AI that require large amounts of capital. “With a small fund, you, you can’t go in there,” Tom said.

“What we do see, however, as that innovation is proliferating super quickly, is that enterprises have a huge problem in adopting technologies, in particular AI, also in enterprise automation. So we love solutions that actually help enterprises take them into use.”

One side of this is horizontal. “Be it for instance, something that enables engineers to do the work of data scientists because there’s not enough data scientists, or be it something that enables you to implement technology without disturbing the engineering flow because then the iterations can be quicker.”

The other side is vertical, with applications that focus on use cases within a specific sector. “And you probably have access to unique data because you only work with that vertical,” Tom said, giving the example of Cambri. Backed by OpenOcean, the Finnish startup raised an €8 million Series A last October for its vertical value proposition.

Thanks to product launch data sets in the food and beverage sector, Cambri came up with an AI-enabled consumer insights and platform used by household brands such as Coca-Cola and Heineken that can predict if a new product will be successful.

This is a win-win, Tom said: It “reduces waste in the world because they’re not launching crappy products that nobody wants and put plastic out in the world, but obviously makes also the corporates more profitable and more efficient.”

Examples aside, Tom shared additional context that makes this episode a must-listen if you are hoping to raise funding from OpenOcean, or more generally curious about the Nordics. Spoiler alert, it will also leave you longing for an invite to the legendary poker tournament that the VC firm holds every year during Slush.

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Fundraising

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Fundraising
Fundraising

Europe’s financial services landscape is witnessing a significant shift toward blockchain-based banking solutions, as traditional institutions grapple with outdated infrastructure and rising customer expectations for seamless digital experiences. This transformation has created fertile ground for fintech innovators to reimagine how Europeans interact with their money. Deblock, a blockchain banking platform, has secured €30M in Series A funding to accelerate its expansion across European markets. The round was led by Speedinvest, marking another significant investment in the continent’s evolving financial technology sector. The funding represents more than just capital injection—it signals growing institutional confidence in blockchain’s potential to solve real banking problems for European consumers and businesses. Unlike traditional banks constrained by legacy systems, Deblock’s on-chain approach offers transparency, efficiency, and cross-border capabilities that align with Europe’s increasingly digital economy. Speedinvest backs blockchain banking revolution Speedinvest’s decision to lead this substantial Series A reflects the Austrian venture capital firm’s strategic focus on European fintech infrastructure. The investor has consistently backed companies that challenge traditional financial services, from payment processors to neobanks, recognising the regulatory advantages European startups enjoy in this space. “Deblock represents the next evolution of banking infrastructure in Europe,” noted Speedinvest in their investment thesis. “Their blockchain-native approach solves fundamental problems around transparency, cost, and cross-border functionality that traditional banks struggle to address.” The investor’s portfolio strategy emphasises companies that can leverage Europe’s regulatory clarity around digital assets and blockchain technology. Unlike markets where regulatory uncertainty stifles innovation, European frameworks like MiCA (Markets in Crypto-Assets) provide the stability blockchain banking platforms need to scale responsibly. This funding round positions Deblock alongside other European blockchain infrastructure companies that have attracted significant venture capital, demonstrating the sector’s maturation beyond speculative cryptocurrency applications toward practical financial services. European expansion strategy targets fragmented markets Deblock’s €30M raise specifically targets expansion across Europe’s fragmented banking markets, where consumers often face complex processes for cross-border transactions and limited transparency in traditional banking operations. The company’s blockchain infrastructure addresses these pain points through programmable money and smart contract automation. The platform’s European focus proves strategic, as EU regulations increasingly favour transparent, auditable financial systems. While US fintech companies navigate uncertain regulatory landscapes, European blockchain banking platforms benefit from clearer guidelines and progressive regulatory approaches. “European consumers deserve banking infrastructure that matches the continent’s digital ambitions,” explained Deblock’s leadership team. “Our blockchain-native platform provides the transparency and efficiency that traditional banks cannot deliver due to their legacy constraints.” The funding will specifically support product development, regulatory compliance across multiple European jurisdictions, and talent acquisition in key tech hubs including Berlin, Amsterdam, and Stockholm. This multi-market approach reflects the reality that European fintech success requires navigating diverse regulatory environments while maintaining consistent user experiences. Deblock’s timing appears particularly advantageous, as European financial institutions increasingly explore blockchain integration while facing pressure from both regulators and customers for greater transparency and efficiency. This Series A represents more than funding—it signals blockchain banking’s transition from experimental technology to viable European financial infrastructure. As traditional banks struggle with modernisation costs, platforms like Deblock offer glimpses of Europe’s financial future.

Fundraising
Fundraising

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Fundraising

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