Kuntarahoitus is KY’s Company of the Week: Building the Finnish welfare state


MuniFin is said to be like a hidden treasure when speaking about financial sector. Not many have heard about a company called Kuntarahoitus, or MuniFin. However, we can say that MuniFin’s financing have had an impact on every Finn in some point of their life, in one way or another. Another fun fact is that we are 3rd largest credit company in Finland, just after OP and Nordea. But still we are quite unknown.


So what we do? Basically, MuniFin enables the development of the Finnish welfare state. Every year we finance schools, residential buildings, day care centers, hospitals, municipalities’ infrastructure and many other interesting projects all around Finland. Although our customers and projects that we finance are based in Finland, our funding and investors come from all around the world. By issuing bonds – and in fact being the most active bond issuer in Finland – we gain assets that we can then commit as loans or leasing for our customers. MuniFin is owned by Finnish municipalities, state and the Finland’s biggest pension provider and administer KEVA.


We speak billions of euros annually that MuniFin seeks from international investors and commits as loans for Finnish customers. It may sound that amount of money like that requires a lot of people working in the company but actually MuniFin’s operations are run by 170 employees. MuniFin employees consists of 49 % women and 51 % men aged between 26-62 years working in customer finance, capital markets, risk management, finance and reporting, business development and IT, legal and HR.


MuniFin was the first in Finland to issue a green bond in 2016 and four bonds later we have financed over 100 environmentally friendly projects with the value of almost 1.5 billion euros in all over Finland. These green projects may include projects such as green buildings, sustainable public transportation, renewable energy, energy efficiency and water and wastewater management. Examples of our well-known green projects are the West Metro and Tampere tramway.


While interests in responsible investing increases there is also a demand for responsible investing opportunities for example, sustainable bonds including both green and social aspects. Thus, MuniFin has just launched a new product called social finance that is targeted for projects that especially increase the welfare of individuals and the vitality of different areas.


MuniFin is a small but a very significant and efficient company. MuniFin’s employees feel their work has a meaning and an impact. And what could be better? In addition, as an employer MuniFin takes particular care of the employees in many ways. About these actions – like our visiting office doggos – as well as KY alumni story and chief economist greetings – you can read in the upcoming blogs.


Pretty amazing, uh? Fancy knowing more? Stay tuned for our blogs. After current interesting times, you can also find us at KY’s upcoming happenings, plus from new student overalls. In addition, check out MuniFin on Linkedin, Twitter and Instagram!