Estonia’s startup scene has recently stepped out into the spotlight, and shows no signs of heading back into the shadows. Full of success stories like Bolt, the Tallinn-based fast-growing e-mobility and on-demand delivery unicorn, there is no shortage of rising stars to gaze at. Offering an easy-to-understand regulatory framework, high quality talent pool, cheap cost of living, and support from bodies like Startup Estonia, this European region is quite the favourable startup ecosystem. Foreign companies hoping to soft-land or expand here can also take advantage of Startup Visa Estonia, as well as get insights on how to navigate the investment scene from Enterprise Estonia and Invest in Estonia.
With our eyes firmly on 2021, here are 10 of the most promising young Estonian startups founded between 2017-2020, who all have fast-growing teams, are working on innovative missions, and are also showing promising signs, such as raising funding in the last year.
So.fa.dog – Founded in 2020, this young startup is on a mission to innovate the way we consume news. Created for people who are tired of ads and long reads, and want to get to the point quickly, so.fa.dog’s video-based news app delivers the latest news when you’re on the go. Promising an AI-free, all of its news videos are ‘human ‘made’, created by a professional video editor and journalist. The startup landed €600K in summer 2020.
Modularbank – Fintech startup Modularbank was founded in 2019, and believes in a seamless banking experience. Its API-drive platform is designed for businesses that want to rapidly offer seamless, tailored financial services to their customers. In December 2020, the Tallinn-based startup landed around €4 million in seed funding to take their ambition further.
Salv – Founded in 2019, Tallinn-based Salv is revolutionising the financial compliance sector with smart technology. Via its anti-money laundering and crime fighting platform, it gives companies the flexibility to get ahead without being held back by criminals. In December 2020, the AML startup landed a fresh funding round of €1.5 million.
Viveo Health – Created in 2018, this healthtech startup has created a fast, simple, and secure e-health platform making healthcare accessible to everyone. Their current mission? To make healthcare accessible to 1 billion people by 2025. The company landed €2 million funding in March 2020, right in the middle of the strictest lockdowns in many European countries, which it was able to put to use at the right time.
Mercuryo – Founded in 2018, this Tallinn and London-based fintech startup offers a whole ecosystem of cryptocurrency payment solutions for global businesses, using cryptocurrencies. Why the rabbit? As signalled by its website, the logo represents “a trick, a hat, some virtual space in a from a crypto wallet where you can get anything you want”. In 2020, the team secured €2.5 million to expand its solutions further.
Crypterium – Tallinn-based Crypterium was founded in 2017 and has built a mobile app that will turn user’s coins and tokens into money that they can spend with the same ease as cash. From shopping in online stores, to paying bills, to sending money across borders, they got you covered. The fast-growing team is now at +75 people, and they just launched an equity crowdfunding campaign on Seedrs to take their mission further.
CoinMetro – CoinMetro is financial platform fueling the future of blockchain innovation. Founded in 2017 in Tallinn, its platform bridges the gap between traditional finance and blockchain technology, offering support for buying, trading and investing in crypto, as well as providing services like a realtime ‘market watch’. The team also works with regulators in a number of jurisdictions to further improve the industry’s regulatory framework.
Katana – Providing a modern manufacturing and inventory software, Katana is on a mission to support consumer businesses. Founded in 2017, Katana’s visual interface and smart auto-booking engine allows manufacturers to automate their workflows, prioritize orders and see the availability of raw materials and finished goods – all in real-time. In Jan 2020 this startup landed €2.4 million seed funding, fostering growth during the pandemic.
MeetFrank – Have you ever heard of a ‘Secret Recruitment App’? You have now! Users sign up in 90 seconds and get personalised recommendations for jobs that users may not have discovered otherwise. With 10,000 matches made every month, the app already has 400,000+ app users across the EU. The team recently landed €1.5 million, to help connect more star talent with interesting organisations looking to grow their teams.
Dashbird – This monitoring and intelligence platform was founded in 2017, and aims to help businesses instantly find and prevent your serverless errors. With 10,000+ developers trusting Dashbird for their work, as well as having won over 4,000+ companies, this startup is on an upward trajectory. In 2020 the startup landed €1.7 million to help more companies secure their tech.
By the way: If you’re a corporate or investor looking for exciting startups in a specific market for a potential investment or acquisition, check out our Startup Sourcing Service!