Finnish supply chain platform Relex Solutions has raised €500 million at a valuation of €5 billion.

The Helsinki-based company, founded in 2005, said it will use the capital to expand its technical team, which already has 400 members.

Relex, which employees 1,300 people overall, has said its customers include Delivery Hero, M&S Food, Franprix, and Morrisons.

The latest funding round, which was led by New York-based company Blackstone Growth, brings the company’s total funding to date to €700 million.

“Retail and supply chain planning used to be dominated by incumbents and their legacy technologies, but our growth into a market leader shows that the industry is ready for a change,” said Mikko Kärkkäinen, group chief executive and co-founder, Relex Solutions. “We are proud to welcome Blackstone, with their unparalleled experience in the field, on our journey as we redouble our commitment to both technological innovation and our vision for truly unified planning.”

He added: : “Consumers are changing their behaviour and preferences at an unprecedented pace.”

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