Helsinki, 14 September 2026 - QOCO Systems, a global provider of AI- and data-driven, next-generation SaaS solutions for aviation maintenance, has received a major growth investment. The company has for years supported the critical operations of global leaders, including Rolls-Royce, Lufthansa and Safran Aircraft Engines, and has grown its annual recurring revenue nearly fivefold in the past 24 months. Funds will be used to further strengthen the company’s technological leadership and local presence in Europe, North America, and the Middle East.
The round is backed by pension funds Ilmarinen and Elo — long-term institutional investors with a strong track record in growth investments. Both have previously invested in Finnish ICEYE and IQM, global leaders in sovereign space intelligence and full-stack superconducting quantum computers: Ilmarinen has invested directly in both, while Elo has invested directly in IQM and ICEYE through fund commitments. The exact size of the round is not being disclosed. Both investors take minority positions.
“Partnering with investors of this caliber gives us not just capital, but the broad-shouldered, long-term backing to match the scale of our ambitions — exactly the kind of support we seek for our next phase of accelerated growth and global expansion,” said Matti Nevala, CEO of QOCO Systems.
QOCO's enterprise SaaS portfolio runs on QOCO Aviadex, aviation's foremost platform for AI-enabled, data-driven maintenance operations, serving airlines and other aviation segments. By integrating data across dozens of distinct airline, MRO, and OEM systems and applying AI, machine learning and deeply specialised optimisation, QOCO represents a new generation of software. QOCO’s solutions deliver critical foresight, data-driven decision making, and end-to-end automation of maintenance processes — generating hundreds of millions of euros in annual operational cost savings for its customers.
QOCO’s exceptional growth, deep domain expertise, trust in leadership’s ability to scale the company into a global category-defining leader, and strong technology platform were key investment pillars attracting global investor interest. Specifically, the company's advancements in the use of AI and machine learning across the technology platform were seen as standout qualities.
“QOCO Systems has developed a best-in-class product, and we see significant potential for it in international markets. The company represents the kind of high-quality SaaS business we seek to support: a strong technology platform, a scalable business model, and a clear value proposition. We believe QOCO has the potential to grow into a Finnish technology success story,” said Esko Torsti, Head of Alternative Investments at Ilmarinen.
Niko Syrjänen, Director, Equity Investments at Elo, added “QOCO Systems has a rare combination of proven growth and technological leadership. Their track record gives us strong confidence — this is exactly the kind of long-term, international potential we look for in our technology investments.”
Media contacts
Matti Nevala, CEO, QOCO Systems
matti.nevala@qoco.aero
+358 45 650 5720
Mikael Orvomaa, CRO, QOCO Systems
mikael.orvomaa@qoco.aero
+358 40 068 2788
About QOCO Systems
QOCO Systems is a fast-growing aviation enterprise SaaS provider, delivering next-generation solutions on its Aviadex platform. QOCO's offering covers the entire aviation maintenance space — asset lifecycle management, engine shop visits, and line and base maintenance — and supports OEM asset performance and digital aftermarket services. Today, Aviadex supports the critical maintenance operations of roughly 60 airlines, MROs and OEMs globally, including Rolls-Royce, Lufthansa, Safran Aircraft Engines, CTS Engines, TAP Portugal, Finnair, Endeavor Air and many others.
QOCO is one of aviation's most prolific system integrators, maintaining continuous data integrations across dozens of distinct airline, MRO and OEM systems. This combined with deep use of the latest technologies enables QOCO to create integrative solutions that provide foresight, data-driven decision making, and end-to-end automation — generating hundreds of millions of euros in annual cost savings for its customers. More information: www.qoco.aero
About Ilmarinen
Ilmarinen is an earnings-related pension company for people. We look after the pension security of 1.1 million people and extend careers so that everyone can be confident and hopeful about tomorrow. We work today to ensure that our customers' livelihoods are secured tomorrow. This is how we prepare for a good tomorrow. Pension liabilities are covered by over EUR 70 billion of investment assets. For more information: www.ilmarinen.fi/en/
About Elo
Elo is a Finnish mutual pension insurance company providing statutory earnings-related pension insurance, with approximately €36 billion in assets under management. Chosen by around one third of all Finnish companies as their pension partner, Elo is responsible for the pensions of roughly 460,000 employees and entrepreneurs, and around 250,000 pensioners. More more information: www.elo.fi/en/