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About us



Inderes Oy was founded in 2009 by passionate equity investors for whom investing was a hobby. We didn't have a business idea or a strategy in the early years. The present business model started to form in 2011, when the company entered into first commissioned research contracts with listed companies. In the model, the companies finance stock analysis on behalf of its shareholders and investors.

Video: The short history of Inderes

Youtube: Inderesin lyhyt historia

The service concept was created based on the demand and wishes of companies and investors. The stock analysis of traditional banks had collapsed after the financial crisis, leaving a vacuum in the market for both listed companies and investors. Company financed analysis enabled this vacuum to be filled by providing all companies and investors with access to high-quality analysis.

Demand for commissioned research services among listed companies started to grow rapidly in 2013-2015 and the Finnish market had hardly any direct competition. The independence of Inderes' business model was strongly questioned in the early years, to which the company responded by focusing on the quality of analysis and serving the information need of investors.

At the beginning of 2021, we launched strategic work to build a unified service offering to meet the needs of listed companies for investor relations. At the end of 2022, we have over 400 listed companies in Finland and Sweden as clients, utilizing one or more of our services. The membership of our active investor community has increased to 75,000 active users. In our view, this provides a good basis for the future revenue growth in the target group of listed companies and for creating even more comprehensive content for the investors. Listing on the First North marketplace is expected to support this objective.


Our social objective is to democratize information in the financial markets, so that in regard to information everyone has equal opportunity to invest and save for their own future. The financial sector has traditionally been built to serve a limited and privileged group, while our ecosystem is open to all investors and companies. We believe that information is an investor’s fundamental right.

We believe that transparent information creates better conditions for people to invest in companies and to develop as long-term investors and owners. Similarly, it enables good companies to raise capital for growth and investments.

We believe that transparency of information makes the market more stable in the long term.


Our operations are based on four values: Independence, passion, quality and longevity.

Independence add

Independence means that we base our equity analyses on facts and can provide critical assessments of our customers.

Passion add

Passion means that we are only looking for business opportunities that we feel passionate about.

Quality add

Quality means that we always deliver customer projects with high quality and we don’t just care about cost-efficiency.

Longevity add

Longevity is visible in our decision-making. We always consider our stakeholders in the following order: staff, community, customers and shareholders. We are prepared to sacrifice short-term results, if it can be justified in terms of longevity.