Business

Estonian business stories around the world

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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The Estonian foreign ministry helps companies take their smart health solutions to the world

The Estonian foreign ministry is helping the country’s companies that produce smart digital solutions to enter foreign markets by putting them in touch with useful contacts through foreign missions and a network of business diplomats. “Estonia’s e-health solutions have attracted international attention and several specific projects have found cooperation partners …

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An Estonians’ marketing stunt tries to sell an islet to Latvia – who doesn’t have any of its own

A marketing stunt by the Estonian entrepreneurs is trying to sell an Estonian islet to Latvia who doesn’t have any islands of its own, saying that Estonia already has over 2,000 islands and if every Latvian invested €1, the country would have its own island to be proud of. The …

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The Estonian GDP fell by 0.7 per cent in the first quarter of 2020

The Estonian gross domestic product fell by 0.7 per cent in the first quarter of 2020 – even before the coronavirus crisis, according to Statistics Estonia, the country’s statistics agency; the GDP at current prices was €6.5 billion. The economic growth was hindered mainly by the energy sector, mostly due …

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