This case study showcases EntryMapper’s collaboration with Noja Rahoitus, a Finland-based fintech providing invoice financing solutions that help SMEs improve cash flow and working capital. Seeking to expand its presence beyond Finland, Noja needed to understand which European markets offer the best market potential in the evolving receivables finance ecosystem.
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Noja needed deeper visibility into Europe’s financing ecosystem; including competition, customer behavior, and partnership networks to identify where its model could create the most value.
With varying levels of SME financing maturity and invoice factoring penetration across countries, Noja lacked clarity on which markets to prioritize for scalable expansion.
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EntryMapper analyzed invoice financing value chain and ecosystem to define key archetypes, emerging models, and competitive white spaces relevant to Noja’s growth.
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Built a comprehensive prioritization framework to evaluate 15 European markets across macroeconomic size, SME behavior, regulatory favorability, and competitive saturation.
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EntryMapper then performed detailed assessments of top three most promising countries and competitors to reveal practical pathways to entry.
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Insights were transformed into a go-to-market roadmap outlining Noja’s ideal customer profile, talent requirements, and partnership strategy — equipping Noja with a clear, data-driven playbook for European expansion.
Noja gained clear alignment on high-potential European markets backed by data-driven insights on performance and scalability.
A focused GTM plan outlined entry pathways, regulations, and partnerships to enable confident, low-risk expansion.
“EntryMapper’s work brought the strategic clarity and analytical depth we needed to expand with confidence. Their comprehensive research on European invoice financing markets, regulatory environments, and competitive archetypes helped us validate assumptions, uncover new opportunities, and prioritize markets with the highest structural fit. The precision and depth of their analysis made our expansion road map both data-driven and actionable.”
CEO
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