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Estonian business stories around the world

Estonian startup Pipedrive raises USD50 million in a new investment round

The Estonian CRM and sales software startup, Pipedrive, has closed a USD50 million investment round, led by Insight Venture Partners and Bessemer Venture Partners, with additional participation from Rembrandt Venture Partners and Atomico. Insight Venture Partners is a new investor for Pipedrive; the other participants had already previously invested in …

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Daimler to buy 10% of Estonia’s Taxify for €100 million

Daimler AG, the German multinational automotive corporation, is to buy 10% of the Estonian startup, Taxify, for over €100 million – making the market capitalisation of the startup over €1 billion. Daimler, the producer of Mercedes-Benz vehicles, is to make the investment later this week, the Estonian weekly newspaper, Eesti …

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Estonian entrepreneurs’ community raises USD2.3 million to help startups grow

Lift99, an Estonian invite-only entrepreneurs’ community, has raised USD2.3 million to develop a “founders to founders” skillsharing platform. According to Lift99, the platform in development “will transform the way startup entrepreneurs share their expertise and learn”. The investment round was led by Taizo Son, the founder of Mistletoe, a Japanese …

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Indian mobile operator looks to open a subsidiary in Estonia

Reliance Jio, an Indian mobile network operator, is looking into opening a subsidiary in Estonia to support its international expansion. According to the Indian media, the parent company of the mobile operator, Reliance Industries, will invest USD 1.77 million into the Estonian subsidiary to launch operations. According to Mint, an …

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Hong Kong startupper: Estonia is a good place to stay focused

Kwun-Lok Ng, a startup founder from Hong Kong, is one of the increasing number of entrepreneurs who have benefitted from the Estonian startup visa programme. This article is paid for by Startup Estonia. At the beginning of 2017, Estonia launched a new programme – called the startup visa – allowing …

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China completes its largest investment deal in Estonia

The Chinese engineering company, Guangzhou Hangxin Aviation Technology, has acquired 100% of the Estonian aircraft maintenance and repair company, Magnetic MRO, completing China’s largest investment deal in Estonia. The Chinese company acquired the Estonian business for €43 million, the Chinese news agency, Xinhua, reported. The deal was initially announced in …

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The FT lists TransferWise as the 24th fastest growing company in Europe

The London-based business newspaper, the Financial Times, has listed the Estonian-founded startup, TransferWise, as the 24th fastest growing company in Europe. According to the newspaper, the annual revenue of TransferWise has grown 3,392% between 2013 and 2016, and the number of the company’s employees has grown by 670 in the …

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Rating agency Fitch affirms Estonia at A+

The international rating agency, Fitch, has affirmed Estonia’s long-term foreign and local-currency issuer default ratings at A+ with a positive outlook. Improved business sentiment, high wage growth and positive employment growth support a continuation in broad-based growth, with Fitch projecting Estonia to grow 4.0% in 2018 and 3.5% in 2019, …

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