FinTech in Estonia

Estonia is the one of the world's most advanced IT nations.

Today 99.8% of financial services occur digitally and the FIs are among the most profitable in Europe. Electronic ID and Cyber Security are among the most developed in the world and Estonia has successful used decentralised ledger technologies since 2001 and is home to Guardtime, one the world's earliest and largest Blockchain companies.

 

Here are some of the key movers and shakers. As Estonia is small many companies target larger markets but retain a back office or management link to Estonia:

Blockchain companies in Estonia

AGRELLO

Smart contracts powered by A.I. with contract versions saved on the blockchain.

BLOCKHIVE

Collaboration platform for blockchain based business and cryptocurrencies.

GUARDTIME

Enterprise security and verification of compliance solutions for financial service providers.

SORBASE

Cryptocurrency aggregator connected to 25+ of the largest crypto exchanges around the world.

UNIFOX

Implementing Blockchain technologies to make cryptocurrency accessible to ordinary people.

Capital markets companies in Estonia

ADMIRAL MARKETS

International brokerage firm, back office in Tallinn.

EUROSTEP DIGITAL

Core banking providers in Estonia

BANKISH

Deposit and loan management system provider, spin out from digital lender Finora Capital.

Credit Scoring companies in Estonia

BIG DATA SCORING

Machine learning analyses of big data to help lenders approve more loans with lower defaults.

CREDITINFO GROUP

Icelandic owned credit data and solution provider with sizeable ops in Estonia.

DATA ME

Credit information processing and analytics.

SCOREWISE

Credit scoring systems for consumer credit.

Crowdfunding companies in Estonia

ARGELD

Crowdfunding of real estate.

BITOFPROPERTY

Crowdfunding of real estate in Estonia and Singapore.

BONDKICK

Crowd funding of SME's in UK, Estonian management

BONDORA

Peer-to-Peer lender with 27,000 investors. EUR 400m of prime and near-prime borrowers since 2009.

BULKESTATE

Real Estate Peer-to-Peer lender, redomiciled from Latvia to Estonia.

CATAPULT

Crowd funding of start-ups in S.E. Asia secured on the blockchain.

CROWDANA

Crowdfunding of start-ups in UK.

 

CROWD ESTATE

Crowd funding of real estate.

 

ESTATE GURU

Crowd funding of real estate.

 

FUNDERBEAM

Data to assist angels and entrepreneurs analyse start-ups. Crowd funding of start-ups.

 

FUNDWISE

Data to assist angels and entrepreneurs analyse start-ups. Crowd funding of start-ups.

 

HOOANDJA

Crowd funding for creative projects.

IUVO

Peer-to-Peer investment platform, redomicilied from Bulgaria.

 

MONESTRO

Peer-to-peer lender.

 

OMARAHA

Peer-to-Peer lender.

Cryptocurrency companies in Estonia

BAROQUE STREET

Japanese-Estonian crypto market data provider.

CINDX

Cryptocurrency asset management, wallet and technology solutions.

COINEX GROUP

Cryptocurrency exchange and hardware.

COINMETRO

Cryptocurrency trading platform built on the Blockchain.

 

COINTRAFFIC

Digital agency for Crypto and Blockchain.

 

CYPTERIUM

Crypto wallet, payment and card solutions.

 

DECRYPTO

ATM provider providing immediate exchange between cash and Bitcoin.

 

DX.EXCHANGE

Start-up offering ownership of NASDAQ listed stocks via their proprietary token.

 

EESTY

Digital wallet for storing cryptocurrencies, with ability to link debit card for real economy payments

 

HASHCOINS

Produce software and hardware for bitcoin mining. New venture HashFlare provides cloudmining services.

 

MOTHERSHIP

ICO funded platform for trading cryptocurrencies.

 

PAXFUL

Peer-to-Peer Bitcoin marketplace registered in Estonia.

 

POLYBIUS

Aims to create regulated bank for the digital generation, spanning cards, cryptocurrency and lending.

 

ZANTEPAY

Cryptocurrency multiwallet-debit card integration solution.

 

Customer experience providers in Estonia

ALPHABLUES

Automating customer experience through Chatbots.

ASKROBIN

Chatbot utilising ML and AI to improve financial inclusion for the underbanked.

FEELINGSTREAM

AI specialist helping FS firms analyse customer intent to improve cross-sell and retention.

MINDTITAN

AI solutions for sales, customer service, fraud and risk management.

Finance and Accounting software providers in Estonia

 

ARVATO BERTLESMANN

Global programming hub for Finance & Accounting solutions.

COST POCKET

Digital expense management and reporting application for corporates.

FITEK

Automation of financial processes such as Purchase-to-Pay and Order-to-Cash.

WIZARD.FINANCE

Digitisation, sending and analysis of receipts for business and accountants.

HANSAWORLD
MERITTARKVARA
ERPLY
SCORO

FinTech advisors in Estonia

KEY CAPITAL

Software house with financial services references.

@key_capital_ / www.keycapital.eu

FinTech customised software companies in Estonia

CODEBORNE

Software house with financial services references.

ICEFIRE

Software house with various FinTech solutions including core banking, payments, insurance and wealth.

MOBILAB

Design and build financial services apps and digital wallets.

MOONCASCADE

Software house with various global FinTech, payment and mobile app references.

PROEKSPERT

Software house with various payment and trading platform applications.

RINGIT

Custom software solutions, clients include Banks in Estonia.

InsureTech companies in Estonia

BIKE ID

Register and insure your bike online in 2mins.

BLACK INSURANCE

Startup seeking to streamline the insurance value chain by removing third parties.

CACHET

Flexible insurance for drivers of ride-hailing firms Uber, Bolt and Yandex.

CROWDSURE

Crowd insuring.

INSLY

Software making it easy for Insurance brokers, agents and end users to understand and transact.

INZMO

Insurance application increasing speed of cover and providing overview of assets, cover, etc.

@inzmo 

ZEGO

London based InsureTech with Estonian founder and CEO.

Online lending companies in Estonia

AASA GLOBAL

Credit solutions for retail and SME clients, back office in Tallinn.

BIGBANK

Online consumer and corporate lender active in 9 European countries from Estonia HQ.

CASH ON GO

Digital consumer lender in UK, back office in Estonia.

CREDIT STAR GROUP

Digital consumer lender in 8 countries. Brands including Monefit Back office in Tallinn.

CREDY

Global real-time lead broker for online lending industry.

ESTO

Consumer credit specialist, including POS credit and leasing.

FERRATUM

Finnish owned Bank with consumer credit and back office operations in Estonia.

FIIZY

Loan marketplace aggregating credit offers, active in N. America, S. America and Europe from Estonian HQ.

FRIENDLY FINANCE

Digital consumer lender in 6 European countries.

IPF DIGITAL

Digital consumer lender, global IT hub in Tallinn.

IUTECREDIT

Consumer lender in Balkan region, Estonian topco and management team.

MYJAR

Digital consumer lender, back office in Tallinn.

PLANET 24

Car leasing and insurance provider in South Africa, under Estonian management.

Payments Service Providers in Estonia

ADVAPAY

Payment services provider

EVERYPAY

Payment service provider for e-commerce and phone transactions.

CUBER

JV between LHV Bank and ChromaWay offering instant, secure, mobile payments in any currency.

ERPLY

Point of sale technology, payments and store credit.

FORTUMO

Payments specialist supporting over 132,000 merchants in 92 countries with direct carrier billing.

MAKECOMMERCE

Payments solutions for e-commerce.

LHV BANK

PAYTAILOR

Mobile payments for consumers and retailers utilising phone technology, no app or credit card required.

POCOSYS

White label banking, onboarding, savings and payments solutions.

TRANSFERFAST

High speed intra-bank payments for corporates.

TRANSFERFRIEND

Payments and digital wallet provider active in S.E. Asia under Estonian management.

TRANSFERWISE

Global currency transfers, currently expanding currency pairs and in to corporate segement.

ZLICK

Start-up focusing on zero click micropayments.

Regtech companies in Estonia

BANK APPLY

Simplifies bank account opening for individuals and companies in Europe.

MESSENTE COMMUNICATIONS

SMS and PIN solutions for notifications, fraud prevention and 2 factor authentication.

PROOF OF YOU

Digital signature and intelligent documentation for P2P economy participants.

SALV

AML platform start-up founded by ex Transferwise team.

SK IDENTITY SOLUTIONS

e-Identity solutions including cards, mobile and sim-less. Formed by Swedbank, SEB Bank and Telia.

VERIFF

Web and mobile identity verification to reduce fraud and improve KYC.

Failed

Asic Vault (crypto), Envestion (p2p), Good Finance Company (payments) Ignite (software), Kuetzal (p2p) Payhub (payments), TreasuryView (risk), WorldQuant (never opened)​

Notes

List is updated on a periodic basis, last update 02.02.2021. List contains FinTechs which have Estonian operations, management or shareholders thus some may be active outside the country. This is a fast changing segment with high birth rate, failures and foreign investment, as such this list is indicative and no warrant is given as to accuracy or completeness.

+372 5193 6831

+44 7722 262299

neil.mathieson@keycapital.eu

  • Twitter
  • LinkedIn

© 2006-2021 All Rights Reserved  l  Legal