ENCE, one of the best-known names in Finnish esports, have announced that the organization will file for bankruptcy. The decision came from the company’s board of directors. It closes a long chapter in Counter-Strike.
This news matters because ENCE was never just another team. For many fans, the organization stood for Finnish CS at its best. Its story now ends, but it leaves behind some of the most memorable moments in the scene.
From Helsinki to the Major Final
ENCE was founded in Helsinki in April 2013, and its office is in the Pitäjänmäki district. The company described itself as a media-style operator that creates visibility for partners through its players and teams. In Counter-Strike, however, it built its strongest reputation, with a solid and varied Finnish presence.
The organization’s greatest moments came in 2019. Led by Aleksi “Aleksib” Virolainen, the all-Finnish lineup won two MVP events and reached the IEM Katowice 2019 Major final. Later, in 2023, the international lineup led by Marco “Snappi” Pfeiffer won a third MVP event. In total, ENCE won three MVP events in 13 years.
A Difficult Year in the Numbers
In December 2023, ENCE sold its core to Falcons. After that, the team went through several rebuilds with mixed results. Meanwhile, the company’s finances changed as well.
The Finnish outlet Ilta-Sanomat reported on the company’s financial statements. According to its report, ENCE’s revenue reached a peak of 6.31 million euros in 2023. It then fell to 3.15 million in 2024 and to 1.32 million in 2025. The company also posted a loss of about 940,000 euros for 2025, which was 260,000 euros weaker than the year before. The balance sheet halved, and the company had five fewer employees.
The drop in revenue had two main causes. First, the international Counter-Strike team had weak results. Second, the partnership program with tournament organizer ESL ended.
ENCE did take action. The statements show that it cut costs significantly between 2024 and 2026, including staff reductions and a reorganization of operations. In 2025, personnel costs fell by about 466,000 euros. However, these savings were not enough to stop the losses from growing.
Equity also shrank, from about 843,000 euros to 303,000. It would have turned negative without a 400,000-euro equity investment, though the statements do not say where that money came from. In addition, cash on the company’s bank accounts fell from about 88,000 euros at the end of 2024 to just under 2,000 euros at the end of 2025.
New owners joined during this period. In autumn 2025, poker player Riku Vihreäsaari bought a 15 percent stake and became the third-largest owner. At the same time, Jami Juutila and Miikka Mustonen acquired a combined 2.5 percent.
Back to an All-Finnish Roster
ENCE tried to build a new path forward. In April 2026, the organization promoted its Finnish academy lineup and returned to an all-Finnish roster. Then in June, Aleksi “allu” Jalli joined as head coach.
At the time of the bankruptcy, the Finnish team sat 103rd in the global VRS rankings. The organization had also been absent from MVP events since September 2024.
The final roster consisted of Teemu “teme” Korva, Aleksi “millert” Lehtopuu, Giorgi “Schwarz” Gakhokidze, Joe “joeski” Holmes and Henri “HENU” Ylilehto. Allu led the team as coach.
Allu reacted to the news on X. “Heartbroken,” he wrote. He added that he will make a more detailed statement about himself and the team when the dust settles a bit.
What ENCE Leaves Behind
The ending is sad, but the legacy remains. ENCE reached a Major final with an all-Finnish lineup, won three MVP events and spent 13 years representing Finland on the global stage. In addition, the organization gave young Finnish players a pathway into top-level Counter-Strike through its academy.
For now, the future of the players and coach is the main open question. As allu has promised more details soon, fans can expect further updates in the coming days.
