FinTech in Estonia

120+ companies 

2 unicorns

10% growth p.a.



Estonia is one of the most advanced IT nations in the world, dating back to the 1990's when policy makers chose to avoid legacy technology. As the state invested in e-government this created spill-over benefits in the real economy.


Financial Services was one beneficiary, with digital signatures, online banking and decentralised data management adopted early. Today 99.8% of financial services in Estonia occur online. With high literacy in maths, IT and languages, Estonian's were able to utilise practical experience to generate export-led innovation in FinTech.



Estonia's Fintech sector comprises of approx. 120 companies. Notable names include unicorns Wise and, one of the world's largest Blockchain companies Guardtime, plus others such as Monese.

The crypto sector comprises of approx. 450 firms who take advantage of Estonia's liberal licensing rules. The number has been as high as 1,500 and can be expected to reduce further as the Financial Inspectorate cracks-down on money laundering.



We believe Estonian FinTech will grow in line, or above, historic norms of 10% per annum. Growth will be driven by global unicorns and a cohort of scale-ups such as Veriff and Scoro who benefit from high growth in large markets, expertise and access to capital. In addition to existing strengths in Payments and Online Lending, we expect InsureTech, WealthTech and Finance & Accounting to emerge strongly.

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Core Banking

Crowdfunding / P2P

Customer Experience

Finance + Accounting


Payments + Remittances


Capital Markets

Credit Scoring


Customised Software

FinTech Advisors

Online Lending

RegTech + Identity


Our FinTech in Estonia research for VC/PE investors, IT buyers and policy makers and can be purchased for EUR 99.


Contents include companies in each segment, deals, watch and deceased lists. List includes companies active in Estonia and those active abroad based on Estonian capital and management. The list is updated weekly but no warranty is given as to the completeness, timeliness or accuracy of data due to the high growth, birth and death rates.

Please contact us for more information.