Paptic raises a growth equity round and agrees on a capital loan

Avance advises Paptic, a Finnish developer and manufacturer of wood-fibre based packaging materials, in its EUR 23 million growth funding round. The funding round was led by European Circular Bioeconomy Fund (ECBF) and NYSE listed global water and hygiene solutions provider Ecolab as well as Itochu Fibre Ltd., an existing investor. In connection with the funding round, Paptic and the Finnish Climate Fund (Ilmastorahasto) agreed on a EUR 10 million capital loan.