Business

Estonian business stories around the world

Burger King fast-food joints to open in Estonia

The global fast-food company, Burger King, has reached a franchise agreement with the Estonian company, Tallink, to open its eateries in Estonia, Latvia and Lithuania, which are among the few countries in Europe that so far don’t have any Burger King joints. The Estonian shipping company, Tallink, which launched the …

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The former head of Danske Bank’s Estonia unit found dead in an apparent suicide

Aivar Rehe, the former head of Danske Bank in Estonia, a branch in the centre of a $220 billion money-laundering scandal, was on 25 September found dead near his home in Tallinn. Rehe (56) was reported missing on 23 September by his family. The police, tens of volunteers and search …

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Estonian-US startup Snackable AI raises USD1.4 million in seed investment

The Estonian-American startup, Snackable AI, that created an artificial intelligence-based audio content search engine, raised USD1.4 million (€1.27 million) in seed investment, the majority of which were provided by Estonian investors, including one of the founders of Skype, Jaan Tallinn. The startup said it was developing an artificial intelligence-based search …

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Estonian-founded Pipedrive in Forbes Cloud 100 list

The Estonian-founded company, Pipedrive, is listed 77th in the Forbes magazine’s Cloud 100 list – what the magazine calls “tech’s hottest category”. “Tech’s hottest category is transforming how we communicate, collaborate at work and protect our identities in the digital age. For the fourth consecutive year, the Forbes Cloud 100, …

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Pan-Baltic accelerator Startup Wise Guys awarded at the CEE X-Tech Awards

The Estonian-founded accelerator, Startup Wise Guys, was named the “Top VC fund of the year” in Central and Eastern Europe at the CEE X-Tech Awards in Warsaw, Poland. Startup Wise Guys was founded in Estonia in 2012 by successful tech entrepreneurs. In 2016, the accelerator expanded to Latvia and in …

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Chasing Unicorns: A hilarious new movie about Estonian entrepreneurs taking on the world

Estonia’s startup community is already famous around the world, not least for producing four “unicorn” startups valued at more than USD1 billion; now, though, Estonia’s startup community has finally made it to the big screen. “Chasing Unicorns” (“Ükssarvik” in Estonian) is a hilarious new movie told from the perspective of …

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A new Estonian startup launches an AI tool for commercial negotiations

A new Estonian startup, Pactum, has launched an artificial intelligence tool for commercial negotiations – namely, a system that helps companies autonomously offer personalised, commercial negotiations. According to the company, referencing research by KPMG, inefficient contracting has been estimated to cause firms to lose between 17% to 40% of the …

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The Baltic private equity and VC market reaches €3 billion

According to the Baltic Venture Capital Association, the private equity and venture capital market in Estonia, Latvia and Lithuania has grown sevenfold during the last five years, reaching €3 billion in 2019. “In 2013, the total volume of private equity and venture capital market in the Baltics amounted to €385 …

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Major footwear chain Deichmann opens its first store in Estonia

The major footwear chain, Deichmann, on 22 August opened its first store in Estonia, at the Nautica shopping centre in the Estonian capital, Tallinn. Deichmann, a German footwear chain that the newspaper Handelsblatt in 2017 called the largest shoe vendor in Europe, said in a statement that it had been …

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