EIC Accelerator Winner ONEiO and the Enterprise Integration Race

Large companies rarely run one IT service desk. They run their own, their outsourcers run others, and every ticket that crosses from one system to another has to be copied, mapped and kept in sync. A Helsinki company called Service-Flow Oy built a cloud service to do that automatically and won an EU grant for it in the June 2019 round of the EIC SME Instrument Phase 2. By the time the grant agreement was signed, the company had renamed itself after its product: since 13 August 2019 it has been registered as Oneio Cloud Oy, with Oneio Cloud Corporation as a secondary name, according to the Finnish Trade Register and North Data. The European Commission's list of June 2019 winners still names it Service-Flow Oy, as the only beneficiary of the project; CORDIS names the coordinator ONEIO CLOUD OY. Both names describe the same company, business ID 2441875-1.

Seven years on, ONEiO is an independent Helsinki software company with revenue of €6.15 million and 32 staff in 2025, according to filed accounts reported by Asiakastieto and Finder.fi. It has raised two private rounds since the grant and still makes a loss.

What ONEiO Does Now

ONEiO now calls itself a managed integration service provider and sells what it calls "IntegrationOps": instead of a one-off integration project, customers buy connections between systems such as ServiceNow and a supplier's ticketing tool as a running service, which the company builds, monitors and updates. On 11 September 2025 it announced an €8 million growth round led by the Finnish private equity firm Bocap, with Fairpoint Capital investing again, to develop the service, hire and expand in the UK and the DACH region, according to tech.eu and the company's announcement. The announcement names Bayer, Volkswagen, CGI, CDW and Agilisys as customers and claims more than 100 enterprise customers; the customer count could not be checked independently.

The company's own site lists offices in Helsinki, Düsseldorf, London and Indianapolis. The Finnish register shows no insolvency or liquidation entry, and the company filed accounts for the year to December 2025. ServiceNow lists Oneio Cloud Oy in its partner finder.

The Technology: Connectors Instead of Projects

Connecting two IT service management tools usually means custom code or a general integration platform configured by specialists, and every new client or supplier means another project. ONEiO's pitch to the EU, in the CORDIS objective, was a ready-made cloud service with a "block-based architecture" that "can be set up in minutes", built-in support for the ITIL and SIAM service management frameworks, and pricing "less than half the price of its competitors". The project's final report describes the result as integrations built from "prefabricated system-specific connectors which utilize AI-supported functionalities", configured in a user interface "in hours, rather than months", with 24/7 monitoring of the data flows by ONEiO.

The difference from a classic integration platform (iPaaS) is the operating model more than the code: ONEiO runs the integrations for the customer and bills per use, as AIN reported in 2022. The company's claim that integrations are deployed "up to 90% faster" at "up to 70%" lower cost comes from its own 2025 announcement and has not been independently tested.

The idea was not new to the EU. In 2017 the company, then trading as Service Flow, received €50,000 for a four-month feasibility study, SERVONE, which described the same "Connect-Configure-Run" service, said Gartner had named the company a "cool vendor" in 2016, and promised global expansion "by the third quarter 2018".

What the EIC Project Promised, and What CORDIS Shows

ONEIO ran from 1 October 2019 to 28 February 2022, after the grant agreement was signed on 25 September 2019, according to CORDIS. The project had two layers of promises. The technical goal was to take the service "to the next level in terms of connectivity, scalability, security and usability". The commercial promise, stated in the objective, was that ONEIO would let the company reach "EBITDA of €9.3 million in 5 years", lift monthly recurring revenue "from €130,000 to €3 million", "create 100 jobs, and reach revenues of €30.9 million".

The final periodic report says "we were able to achieve all the over-all goals of the project". It reports self-service connectors for the most popular ITSM tools, ISO 27001 security certification, an average of more than 1.2 million messages a day, and monthly recurring revenue up from €193,000 to €285,000 during the project, 48%. It also says the company dropped its product-led go-to-market strategy for sales through IT service providers, and that it employed four people in Germany.

1. Connectivity, scalability and usability upgradesDeliveredSelf-service connectors and new release tooling, per the CORDIS report.
2. ISO 27001 certificationDeliveredReported in CORDIS and listed on the company site.
3. Large enterprise customersDeliveredBayer, Volkswagen and CDW named in CORDIS, in 2022 by The SaaS News and in 2025 by the company.
4. €3M monthly recurring revenue, €30.9M revenue in five yearsNot achieved€285,000 MRR at project end; €6.15M revenue in 2025.
5. 100 new jobsNot achievedStaff peaked at 44 in 2023 and fell to 32 in 2025.
6. €9.3M EBITDANot achievedOperating losses every year from 2021 to 2025.

The project finished on its scheduled end date and delivered its technical work. The business plan attached to it did not happen: the forecast that justified the grant, a €30.9 million company with 100 new jobs, compares with a €6.15 million company with 32 staff. That gap is why this article rates the award as partly delivered.

The Money Since the Grant

Private money arrived after the project. In April 2022, two months after ONEIO ended, the company raised €7.2 million in a round led by the Swedish fund Fairpoint Capital, with earlier investors Inventure and Tesi, according to AIN and The SaaS News. Nordea says the two first met at its investor speed-dating event in November 2021. AIN also reports a €1.1 million investment from Inventure in 2018; no second source for that round was found. The €8 million round of September 2025 followed.

Revenue grew every year from 2021 to 2025, by 15% to 21% a year according to Asiakastieto, and the 2025 figure of €6,154,000 is 88% above 2021, according to both Asiakastieto and Finder.fi. The 2022 round paid for a push that cost money: operating losses of €2.9 million in 2022 and €2.85 million in 2023, with staff rising to 44. In 2024 the company cut back, to 34 staff and an operating loss of €468,000.

The two registers disagree on 2025. Asiakastieto reports an operating loss of €639,000; Finder.fi reports an operating loss and a net loss of €1,207,000 each. Finder.fi puts the net losses for 2021 to 2025 at €8.65 million combined. Equity figures are behind paywalls on both services; Asiakastieto gives an equity ratio of 59% at the end of 2025, the year of the €8 million round.

Why Europe Should Care

The EU's Digital Decade programme aims for 75% of EU companies to use cloud, AI or big data by 2030 and for more than 90% of SMEs to reach a basic level of digital intensity, according to the European Commission and the Council of the EU. Getting there means connecting many systems, often run by several suppliers, and the ONEIO final report argued that easier connectivity matters "particularly in Europe where the average business size is considerably smaller than for instance to the USA".

The strategic weight is modest. ONEiO works on top of platforms that are mostly American, such as ServiceNow, and a Finnish integration layer does not change Europe's dependence on them. What it does show is a European software company that can sell to large German and British customers from Helsinki, which is the market the 2025 round was raised for.

The Verdict

ONEiO has not been asked for comment for this article. It is based entirely on public records, company statements and EU project data, linked throughout. Accounts before 2021 were not available from the free register services used.