Toivo
Toivo Group Oyj is a Finnish vertically integrated residential real estate company that develops, builds, owns, and rents new apartments in Finnish growth centers, serving individual renters, corporate clients, and ARA-subsidized tenants through a direct-to-consumer platform.
- Company typePublic
- Founded2015
- HeadquartersUusimaa, Finland
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Toivo does
Toivo Group Oyj is a Finnish vertically integrated residential real estate company that develops, constructs, owns, and rents apartment buildings in the country's main growth centers, including the Helsinki metropolitan area, Turku, Tampere, Hämeenlinna, Järvenpää, and Nokia. Founded in 2015 and headquartered in Espoo, Toivo has been listed on the Helsinki Stock Exchange First North market since June 2021 (ticker: hel:TOIVO). The company runs the entire real estate value chain in-house — land acquisition, planning, construction, ownership, leasing, and ongoing management — and complements its core rental portfolio with build-to-sell projects delivered to institutional investors such as Premico Asuntorahasto III, government co-financed affordable housing via ARA, and a separate for-sale housing brand called Toivo Homes.
Toivo's product portfolio centers on newly built Vuokrakodit (rental apartments) managed by dedicated on-site Asuntomestari (Property Master) staff, augmented by Toivo Studios — a furnished micro-apartment concept (approximately 20 m² units with all-inclusive rent and shared amenities) targeting corporate clients, students, and relocators. Its technology stack is built on A-energy-class buildings with geothermal heating, iLOQ S50 NFC-based keyless entry managed in partnership with Certego, and a remote property management platform (Etähallinta) that handles digital nameplates, info screens, and water/electricity consumption monitoring. These choices underpin an average maintenance charge of approximately €2.1/m²/month, less than half the Finnish national average of €4.5/m²/month.
Toivo operates a direct-to-consumer rental model: tenants apply through toivo.fi or the third-party Kodia platform, and unit listings are also distributed via Oikotie and Vuokraovi. Studio units start at approximately €504–660/month, one-bedrooms at €700–900, two-bedrooms at €900–1,100, and three-bedrooms-plus at €1,100–1,350+, with ARA-subsidized Toivo Studios priced at approximately €750 + €50 service fee. The company reports over 99% rental occupancy, a stated investment-property fair value target of €500M by 2026, and operates under a hybrid segmentation approach spanning long-term individual renters, corporate clients, and government-subsidized ARA tenants.
Toivo firmographics
Firmographics- Name
- Toivo
- Legal name
- Toivo Group Oyj
- Website
- https://toivo.fi
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Toivo Group Oyj is a Finnish vertically integrated residential real estate company that develops, builds, owns, and rents new apartments in Finnish growth centers, serving individual renters, corporate clients, and ARA-subsidized tenants through a direct-to-consumer platform.
- Ownership category
- akta.pro rank
Toivo industry classification
Industry- Product category
- Residential Real Estate Development
- NAICS
- Rental and Leasing Services (532), Other Services to Buildings and Dwellings (56179), Other Services to Buildings and Dwellings (561790)
- SIC
- Real Estate Operators (No Developers) & Lessors (6510), Land Subdividers & Developers (No Cemeteries) (6552), Services-To Dwellings & Other Buildings (7340)
- akta.pro primary industry
- Multifamily Apartment Property Management (BPAJAFAA)
- akta.pro secondary industries
- State/Provincial Housing, Urban/Regional Planning & Community Development (BPAIABAM), Housing & Neighborhood Services (Local Housing Programs) (BPAIACAJ)
Keywords
Where Toivo is headquartered
LocationHeadquarters
- HQ city
- Uusimaa
- HQ country
- Finland
- HQ region
- Europe
Offices1 record
Markets served
Toivo business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Residential Property Rental: Toivo generates primary revenue from renting out residential apartments in their own property portfolio. Properties are located in Finnish growth centers (Helsinki metropolitan area, Turku, Tampere). The company achieves high occupancy rates of approximately 99%.
- Property Development and Construction: Toivo develops, constructs, and manages residential real estate projects from land acquisition through planning, construction, and long-term ownership. The company handles the entire real estate lifecycle from raw land development to rental management.
- Property Sales to Investment Partners: Toivo constructs apartment buildings and sells completed properties to investment funds. For example, the Puistola project will be sold to Premico's fund upon completion.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Studio apartments |
| Unit Pricing | Monthly | One-bedroom apartments |
| Unit Pricing | Monthly | Two-bedroom apartments |
| Unit Pricing | Monthly | Three-bedroom and larger apartments |
| Unit Pricing | Monthly | ARA-subsidized housing (Toivo Studios) |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Toivo product offering
Product offeringCore offering
Toivo develops, constructs, owns, and manages residential rental apartments in Finnish growth centers — primarily the Helsinki metropolitan area, Turku, Tampere, Oulu, and Jyväskylä. The offering spans furnished micro-apartments (Toivo Studios), standard rental homes, for-sale apartments (Toivo Homes), and ancillary community and infrastructure spaces, complemented by a dedicated Asuntomestari (Property Master) service for each property and below-average maintenance charges.
Product overview
Toivo is a Finnish real estate company founded in 2015 and listed on Nasdaq First North, operating across the entire real estate value chain from land development and construction to property ownership, management, and rental. Its core product portfolio consists of Vuokrakodit (rental apartments) and Toivo Homes (apartments for sale) located in Finnish growth centers. The company also operates specialized sub-brands including Toivo Studios (furnished micro-living studios with amenities) and offers community property and infrastructure development services. Toivo manages properties internally using dedicated Property Masters, and provides landowner partnership services through its Hankekehitys (project development) team. The company holds approximately 1,400 apartments in its development pipeline and over 600 under construction, with a stated target to grow investment property value to EUR 500 million by 2026.
Differentiator
Problem solved
Functional benefit
Brands
- Toivo Studios: A furnished micro-apartment concept featuring 20m2 studios with all-inclusive rent (water, electricity, internet, furniture) and shared amenities including co-working spaces, sauna, gym, and library. Located in Espoo Leppävaara (101 units) and Vantaa Asola (38 units).
- Toivohomes
Products and services
- Vuokrakodit (Rental Homes)
Quantifiable outcome
- Achieves 99%+ rental occupancy rate compared to industry average of 90-99%
- +3 more outcomes
Companies that use Toivo
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
Toivo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature3 records
Toivo partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- ARA (Asumisen rahoitus- ja kehittämiskeskus)coreThe Housing Finance and Development Centre of Finland co-finances Toivo's affordable housing projects. Projects like As Oy Nokian Fabriikki were implemented in cooperation with ARA, following their criteria for resident selection and receiving government subsidies.
- Iitti MunicipalityminorToivo is working with Iitti Municipality to develop concepts for underutilized industrial and residential plots. Toivo's experts provide analysis on economically viable building types, solar energy opportunities, and energy self-sufficiency to make the plots more attractive for developers.
- CertegocoreCertego manages Toivo's key systems, specifically administering the iLOQ S50 smart lock infrastructure across all properties. All additions and changes to access rights are handled through Toivo's customer service.
- iLOQcoreiLOQ provides S50 series NFC-based smart locks for all Toivo properties. The locks use smartphoneNFC technology to eliminate traditional keys, with the lock drawing power from the phone.
Scale indicators14 records
Recent moves9 records
Expansion highlights6 records
Toivo competitors and assessment
Company assessmentBroad incumbents
- SRV Yhtiöt:
- Heimstaden: Heimstaden is a major European residential property owner operating across the Nordics and beyond, including Finland. Comparable as a large-scale institutional multifamily landlord, but with broader geographic and operational scope than Toivo.
- YIT: YIT is one of Finland's largest construction and housing developers, building both owner-occupied and rental housing across Finland and the Nordics. Comparable to Toivo on residential development, construction, and Finnish growth-center focus, though much larger and broader in scope.
Direct peers
- Kojamo: Kojamo is the largest publicly listed residential rental company in Finland (owner of the Lumo brand), operating ~40,000 apartments across Finnish growth centers. Directly comparable to Toivo on rental model, geographic focus, scale, and listed-equity capital structure, though significantly larger.
- SATO: SATO is one of Finland's largest private residential rental owners, with ~25,000 apartments concentrated in the Helsinki metropolitan area and other growth centers. Comparable to Toivo on multifamily rental model, Finnish geography, and tenant positioning.
- Orava Residential REIT: Orava Residential REIT is a Finnish publicly listed REIT focused on residential rental properties in growth centers. Closely comparable business model to Toivo's rental-hold strategy, though managed externally and structured as a REIT.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Toivo social profiles
Digital presenceToivo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Toivo leadership team
Management profileNumber of profiles
Profiles9 records
Toivo subsidiaries and ownership
Company hierarchySubsidiaries1 record
Toivo funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Toivo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Toivo
What does Toivo do?
Toivo develops, constructs, owns, and manages residential rental apartments in Finnish growth centers — primarily the Helsinki metropolitan area, Turku, Tampere, Oulu, and Jyväskylä. The offering spans furnished micro-apartments (Toivo Studios), standard rental homes, for-sale apartments (Toivo Homes), and ancillary community and infrastructure spaces, complemented by a dedicated Asuntomestari (Property Master) service for each property and below-average maintenance charges.
Is Toivo a public or private company?
Toivo is a public company. It is classified as public and is currently operating.
When was Toivo founded?
Toivo was founded in 2015. It employs 1 to 10 people.
Where is Toivo based?
Toivo is headquartered in Uusimaa, Finland, in the Europe region.
How does Toivo make money?
Three revenue lines are on record. Residential Property Rental is the primary driver. The others are property Development and Construction and property Sales to Investment Partners.
Who are Toivo's main competitors?
Broad incumbents on record are SRV Yhtiöt, Heimstaden and YIT. Direct peers are Kojamo, SATO and Orava Residential REIT.
Does Toivo have an API?
No public API is recorded for Toivo.
What industry is Toivo in?
Toivo's product category is Residential Real Estate Development. Its primary akta.pro industry code is BPAJAFAA, Multifamily Apartment Property Management, with a secondary code of BPAIABAM, State/Provincial Housing, Urban/Regional Planning & Community Development. Its NAICS code is 532 and its SIC code is 6510.