Tenity, a Swiss investment platform that finances fintech startups, on 5 September announced the selection of seven ambitious early-stage startups for the second edition of its incubation programme in the Nordics region, with the Estonian capital, Tallinn, as a base.
The cohort includes solutions for fintech and insurtech, using Web3, Blockchain and AI. Since Tenity Nordics focuses a bit extra on climate fintech, four of the startups have solutions addressing sustainability and impact issues.
Major investors behind Tenity, originally the fintech incubator of the Swiss stock exchange SIX, include the banking giant UBS. The platform is operating in Zürich, Switzerland; Madrid, Spain; Singapore; and now Tallinn, Estonia.
“In addition to investments, Tenity offers innovation services to large companies, which is why we have a good overview of the technological needs of banks, for example. What makes Tenity unique is the fact that in addition to capital, startups get access to our platform’s network of clients, mentors and financiers in Europe and Asia,” Uve Poom, programme manager for Tenity Nordics, said.
Triin Kask, a board member of the Estonian Founders Society and angel investor, described the Tenity Tallinn accelerator as a new kind of service export, where startups from Estonia and abroad are getting a boost from Swiss capital on the back of the Estonian ecosystem.
Tenity is a platform founded in 2015 that spun off the Swiss stock exchange, which has helped more than 250 startups raise over €370 million, according to spokespeople for the fund. Through the Estonian branch, financial institutions and startups from the Baltic Sea region will be brought into the Tenity ecosystem.