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Top 10 B2B Angel Investors in Estonia (August 2026)

The most active angel investors investing in Estonia B2B startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia B2B startup companies. Find investors to raise a Pre-Seed, Seed or Angel round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
hi VC
Angel
2 Turkey, Estonia, United States Seed, Pre-Seed Software, Artificial Intelligence, Information Technology $150k–$1M
Maria Sundlof
Angel
1 Denmark, Estonia Angel, Pre-Seed Software, B2B, SaaS
Jakob Ellehauge Sode
Angel
1 Denmark, Estonia Angel, Venture - Series Unknown B2B, SaaS, FinTech
Kim Aviram
Angel
1 Estonia, United Kingdom Angel, Series A B2B, SaaS, Finance
Oliver Ahlberg
Angel
1 Estonia Seed, Angel Software, Information Technology, Artificial Intelligence $853k–$1M
Sten Tamkivi
Angel
1 Estonia, United States, United Kingdom Seed, Series A, Pre-Seed Software, Financial Services, Manufacturing $120k–$35M
Indrek Kasela
Angel
1 Estonia, Japan, United Kingdom Seed, Pre-Seed, Angel Software, Information Technology, Artificial Intelligence $1M–$2.2M
Jaan Tallinn
Angel
1 United States, Estonia, United Kingdom Seed, Series A Software, Artificial Intelligence, Information Technology $531k–$124M
Kuido Lepik
Angel
1 Estonia Seed, Pre-Seed Apps, GPS, Pet $41k–$348k
Matt Arnold
Angel
1 Estonia Seed B2B, Software, Information Technology
Access all 11 angel investors in Estonia B2B startups.

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Investor list

hi VC
Angel · 2 investments in Estonia B2B startups

hi VC

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Turkey, Estonia, United States

Investor stats

  • Total investments: 11
  • Round size: Seed $150k–$1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Insumo — Insumo is a personalized productivity & habit building assistant that works with other productivity tools.
  • Workhy — More than 20,000 entrepreneurs chose us for company formation, financial process management, tax return preparation, and bookkeeping services.
  • Cloud4Feed — Cloud4Feed helps businesses increase their brand values and maximize customer satisfaction by enabling them to make customer-oriented decisions with its solutions. They provide service to brands and businesses with different solutions in many areas, such as retail, automotive, insurance, finance, the hospital and health industry, and more.
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Maria Sundlof
Angel · 1 investments in Estonia B2B startups

Maria Sundlof is a Program Director at NKT and CEO & Owner of Procevia.

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Investment focus

  • Industry: Software, B2B, SaaS
  • Stage:Angel, Pre-Seed
  • Geography: Denmark, Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Hala.ai — Conversational AI platform that blends everyday business software into one conversational UI. QuickBooks Online Digital Assistant & Web chat for IBM Watson.
  • Obital — I'm Elias, a guy from Denmark doing start-ups, coding and a bunch of fun projects in Engineering.
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Jakob Ellehauge Sode
Angel · 1 investments in Estonia B2B startups

Jakob Ellehauge Sode

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Investment focus

  • Industry: B2B, SaaS, FinTech
  • Stage:Angel, Venture - Series Unknown
  • Geography: Denmark, Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Hala.ai — Conversational AI platform that blends everyday business software into one conversational UI. QuickBooks Online Digital Assistant & Web chat for IBM Watson.
  • Meo — The NewBanking Identity platform makes it easy for businesses to handle personal data and perform PEP checks for those subject to AML laws. Learn more here.
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Kim Aviram
Angel · 1 investments in Estonia B2B startups

Kim Aviram

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Investment focus

  • Industry: B2B, SaaS, Finance
  • Stage:Angel, Series A
  • Geography: Estonia, United Kingdom

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Hala.ai — Conversational AI platform that blends everyday business software into one conversational UI. QuickBooks Online Digital Assistant & Web chat for IBM Watson.
  • United Capital Finance LLC — United capital finance is a global alternative investment management firm, since its founding in 2010, this firm has operated with a long-term approach to investing, focused on diversifying and uncorrelated alpha strategies.The objective of this firm's discretionary global macro strategies is to produce a high risk-adjusted return over thelong term by using a disciplined, repeatable investment process within a strong risk management framework.United believes in integrity, transparency, and alignment of interest are essential, uncompromising parts of your busses model.
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Oliver Ahlberg
Angel · Tallinn, Harjumaa, Estonia · 1 investments in Estonia B2B startups

Oliver Ahlberg is based out of Tallinn, Harjumaa, and is the Chairman of the Supervisory Board of Skeleton Technologies. Oliver previously worked at Vigvam as a CEO and co-founder. Oliver Ahlberg attended the University of Tartu.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Angel
  • Geography: Estonia

Investor stats

  • Total investments: 3
  • Round size: Seed $853k–$1M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • OCCO — B2B commerce platform for design professionals, advancing their workflow through AI and Machine Learning.
  • ProcurementFlow — Reduce time to market for new products! Simple procurement teamwork software for keeping the communication and procurement process in the flow. Requisition management, eSourcing, SRM.
  • DriveX Technologies — Decrease your average claim size with AI vehicle inspection tool for CASCO pre-checks and windshield claims.
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Sten Tamkivi
Angel · San Francisco, California, United States · 1 investments in Estonia B2B startups

Sten Tamkivi is the Chief Product Officer at Topia (formerly MOVE Guides). He was previously co-founder and CEO of Teleport (acquired by Topia), the place to scout for startup people. He co-founded the company as an EIR at Andreessen Horowitz.Sten has been a tech entrepreneur since 1996. After founding a few companies in Estonia, he joined Skypeas an early executive, ran the original R&D office, and held several global product leadership roles for 8+ years.He has an MS in Management from Stanford GSB.

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Investment focus

  • Industry: Software, Financial Services, Manufacturing
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Estonia, United States, United Kingdom

Investor stats

  • Total investments: 49
  • Round size: Seed $540k–$20M; Pre-Seed $120k–$2.2M; Series A $7.4M–$35M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Salv — Smart AML solutions. Detect and mitigate money laundering risks through advanced transaction monitoring, sanction screening, and KYC risk scoring.
  • Katana — Katana gives thousands of manufacturers a live look at their business with visual, intuitive, and easy-to-use ERP software.
  • Entrepreneurs First — We turn exceptional individuals into funded founders. We back you first, then give you a bridge to Silicon Valley.
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Indrek Kasela
Angel · Tallinn, Harjumaa, Estonia · 1 investments in Estonia B2B startups

Indrek Kasela - investor @ Luup Culture

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Estonia, Japan, United Kingdom

Investor stats

  • Total investments: 8
  • Round size: Seed $1M–$1.5M; Pre-Seed $1.9M–$2.2M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Insly — The low-risk insurance software partner for MGAs and insurers. Fast setup, AI-powered and real results for MGAs and insurers.
  • Supersimple — Supersimple helps SaaS companies use customer behavior data to drive decisions in product & sales.
  • ScamGuardian.AI — ScamGuardian develops AI-powered victim simulations to capture actionable scam intelligence
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Jaan Tallinn
Angel · Tallinn, Harjumaa, Estonia · 1 investments in Estonia B2B startups

Jaan Tallinn is the Co-Founder of the Centre for Study of Existential Risk and Future of Life Institute.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A
  • Geography: United States, Estonia, United Kingdom

Investor stats

  • Total investments: 64
  • Round size: Seed $531k–$15M; Series A $3.3M–$124M
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • ZaiNar — ZaiNar leverages patented digital signal processing techniques to locate radio devices in 3D with meter-level accuracy.
  • Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
  • Blueprint Bryan Johnson — On the surface, Blueprint may seem something about health, wellness and aging. It's really a system to make tomorrow better for you, me, the planet and our shared future with AI.
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Kuido Lepik
Angel · 1 investments in Estonia B2B startups

Kuido Lepik - Owner & CEO @ Signiti

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Investment focus

  • Industry: Apps, GPS, Pet
  • Stage:Seed, Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 5
  • Round size: Seed $262k–$348k; Pre-Seed $41k–$77k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Traxby — Traxby OÜ (formerly Huntloc OÜ) is a company owned by Estonian owners, founded in 2013, which develops various real-time tracking platforms via a smartphone and manufactures tracking devices. The company’s product portfolio includes the following solutions: hunting platform Huntloc for hunters, team management platform LiveTeam, dog tracking appDoglo. The company has developed its own GPS-GSM tracking device, which is mainly intended for tracking dogs. The device is long life, robust, water resistant, no distance limitation.
  • CostPocket — CostPocket is an accountancy startup intended to help accountants receive receipts from their clients in a much faster and easier way. Its expense management software automates business expense entry, eliminates paper trail, and reduces administrative effort and helps to ease the workflow and save 75% of the time accountants spend on receipts,enabling clients to save time on receipt delivery.The company was founded in 2016 and is headquartered in Tallinn, Estonia.
  • Zelos Team Management — A very simple app for mobile teams. Promoting #volunteering and #selfsignup as a mindset for successful teamwork everywhere.
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Matt Arnold
Angel · Houston, Texas, United States · 1 investments in Estonia B2B startups

Matt Arnold is a Co-Founder and member of the Board of Directors for Solid BiosciencesMatt Arnold's background is in energy commodities. He was Managing Director of Constellation Energy Global Commodities in London from 2005 – 2009 when it was sold to Goldman Sachs.Prior to joining Constellation in 2002, Matt Arnold worked in energytrading and finance at Enron. Since 2009, Matt Arnold has been actively working with startup businesses in the UK and Europe, primarily in the technology and clean tech sectors. He holds an MS in Environmental Engineering from the University of Virginia and an undergraduate degree from Duke University.

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Investment focus

  • Industry: B2B, Software, Information Technology
  • Stage:Seed
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Plumbr — Expose metrics and set up alerts for ops. Detect and prioritize root causes for dev. Complete the devops feedback loop. Configure your application to send traces using Plumbr Agents.
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B2B Angel investor funding in Estonia at a glance

Stats across 8 deals from 11 investors.

11
investors
in Estonia B2B startups
8
deals
in Estonia B2B startups
$525k
median round
in Estonia B2B startups
9%
lead investors
lead at least one round
50%
Seed
most common funding stage

Access all 11 angel investors in Estonia B2B startups.

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