Estonia’s successful start-ups valued at EUR 235 Million

Experts estimate that the combined value of Estonia’s six most successful startups Creative Mobile, Grabcad, Fortumo, Transferwise, Zeroturnaround and Erply could be 305 million U.S. dollars or 235 million euros.

The figure is comparable to the market value of the listed retail group Tallinna Kaubamaja, which stood at 248 million euros on Tuesday, Estonian newspaper Eesti Päevaleht says.

The expert panel judged the game developer Creative Mobile and engineer network Grabcad to be worth 100 million dollars each. Both Transferwise, the peer-to-peer money transfer service, and mobile payment solutions provider Fortumo were valued at 40 million dollars.

Zeroturnaround, developer of Java productivity tools, was seen to be worth 10 million dollars, and the value of Erply that specialises in business management software was put at 15 million dollars.

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Source: Estonian MFA

Photos: VisitEstonia/picturepictures.com

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About the author: Estonian World

Estonian World is a global independent online magazine, founded in London in 2012 and headquartered in Tallinn, Estonia. The magazine has editorial representations in London, New York, Toronto and Tallinn, and contributors all over the world, on every continent. Follow us on Facebook, Twitter, LinkedIn and Instagram.