Business

Estonian business stories around the world

Estonian online identity verification startup raises USD15.5 million in financing round

The Estonian online identity verification startup, Veriff, has closed a financing round of USD15.5 million to bolster its global growth. Founded in 2015 by Kaarel Kotkas, Veriff’s technology makes sure a person is who they claim to be. Using artificial intelligence, the firm claims to analyse thousands of technological and …

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Estonian AI-based negotiation platform startup closes a USD3 million seed round

​Pactum​, an Estonian-founded AI-based platform that enables companies to automate personalised commercial negotiations, has announced the closing of a USD3 million seed financing round led by Berlin-based​ ​Project A​, a venture capital fund focused on innovative startups, with investments by ​DocuSign​ and other previous investors. “We’re happy to announce this …

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The e-residency programme has earned Estonia €31 million in tax revenues

Estonia’s e-residency programme has since its launch earned the state €41 million – €31 million of which is direct tax revenue, the team behind the state-owned initiative announced. Businesses founded by Estonia’s e-residents have earned the state close to €31 million in tax revenue since the programme’s launch in December …

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Estonian storyhacking platform launches with USD10 million funding

Estonian-founded storyhacking platform Whatifi has launched with USD10 million in funding, led by Andreessen Horowitz; the company is providing a new way to watch movies on one’s phone with one’s friends. “Whatifi unlocks the ability to discuss, debate and decide what happens next in the movies you watch with friends …

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Estonian mobile payments startup Fortumo sold to Boku for $41 million

Fortumo, the mobile payments services provider, founded in Tartu, Estonia, has been acquired by the London Stock Exchange-listed mobile payments platform, Boku. Fortumo was founded in Tartu in 2007 as a spin-off of the mobile services company, Mobi Solutions, by entrepreneurs Rain Rannu and Veljo Otsason. The company offers various …

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Estonian fintech startup Planet42 raises USD2.4 million to democratise access to mobility

The Estonian fintech startup, Planet42, that operates in Africa and focuses on providing access to mobility to the underbanked, has raised USD2.4 million in an investment round. The seed round was led by Change Ventures. Private backers include Martin Villig (Bolt), Ragnar Sass (Pipedrive), Marko Virkebau (MeetFrank), Kristjan Vilosius (Katana …

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Estonian trading platform launches an equity price tracking platform

The Estonian-founded funding and trading platform, Funderbeam, has launched its Venture Index that allows investors to track price changes of tradable equity securities on the Funderbeam Marketplace and compare its correlation against other asset classes. The Funderbeam Venture Index is a price return index reflecting changes in the market price …

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Estonia to offer job mediation to short-term foreign workers

The Estonian social ministry and the Unemployment Insurance Fund are to offer job mediation to those short-term foreign workers who have lost their jobs in Estonia, but have the right to continue working, in order to more flexibly match the labour supply and the need for seasonal labour. Job mediation …

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Estonian consumer prices dropped in May more than anywhere else in the eurozone

The consumer prices in Estonia dropped by 1.7% in May 2020, compared with May the year earlier, which is more than in any other country in the eurozone, according to the Bank of Estonia, the country’s central bank. Prices in Estonia also dropped by 0.7%, compared with April 2020. Prices …

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