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Top 50 Financial Services VC Funds & Investors in Estonia (September 2026)

The most active venture capital funds investing in Estonia Financial Services startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia Financial Services startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Lemonade Stand
VC Fund
13 Estonia, Lithuania, India Seed, Pre-Seed, Venture - Series Unknown Software, Artificial Intelligence, SaaS $251k–$3M
Superangel
VC Fund
10 Estonia, United States, Finland Seed, Pre-Seed, Series A Artificial Intelligence, Software, Information Technology $170k–$20M
Icebreaker.vc
VC Fund
7 Finland, Sweden, Estonia Pre-Seed, Seed, Series A Software, Information Technology, Artificial Intelligence $110k–$25M
Karma Ventures
VC Fund
6 Estonia, United States, Finland Series A, Seed, Series B Software, Artificial Intelligence, Information Technology $549k–$30M
Practica Capital
VC Fund
6 Lithuania, United Kingdom, United States Seed, Pre-Seed, Series A Software, B2B, Information Technology $219k–$30M
BlackFin Capital Partners
VC Fund
6 France, Germany, Denmark Series A, Private Equity, Series B Financial Services, FinTech, Software $5.9M–$100M
Specialist VC
VC Fund
6 Estonia, United Kingdom, Finland Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $240k–$4.6M
Tera Ventures
VC Fund
6 Estonia, United States, United Kingdom Seed, Series A, Pre-Seed Software, Artificial Intelligence, FinTech $120k–$14M
Thorgate Ventures
VC Fund
5 Estonia, United Kingdom, Norway Seed, Pre-Seed, Series A Software, SaaS, FinTech $22k–$3.9M
Cryptomeria Capital
VC Fund
5 Estonia, United States, Hong Kong Seed, Venture - Series Unknown Blockchain, FinTech, Cryptocurrency $1M–$12M
Gateway Ventures
VC Fund
4 Germany, Austria, Italy Seed, Series A Software, Information Technology, SaaS $1.5M–$11M
Zenith Family Office
VC Fund
4 Estonia, United States Pre-Seed, Seed, Venture - Series Unknown SaaS, Commercial Real Estate, B2B $27k–$549k
AU21 Capital
VC Fund
4 United States, Singapore, India Seed, Venture - Series Unknown Blockchain, Cryptocurrency, Gaming $1.1M–$8M
SMOK Ventures
VC Fund
4 Poland, United States, Ukraine Seed, Pre-Seed Software, Information Technology, SaaS $54k–$3M
ZBS CAPITAL
VC Fund
4 United States, Singapore, United Kingdom Seed, Venture - Series Unknown Blockchain, Cryptocurrency, Financial Services $1M–$6M
Token Ventures
VC Fund
4 Estonia, Switzerland, France Seed, Pre-Seed, Venture - Series Unknown Blockchain, Cryptocurrency, Web3 $650k–$3.5M
ff Venture Capital
VC Fund
4 United States, Poland, Canada Seed, Series A Software, Artificial Intelligence, Information Technology $1M–$12M
Spark Digital Capital
VC Fund
4 Singapore, United States, Hong Kong Seed, Pre-Seed Blockchain, Cryptocurrency, Information Technology $300k–$6.6M
Change Ventures
VC Fund
4 Estonia, Latvia, Lithuania Seed, Pre-Seed, Series A Software, Information Technology, Apps $273k–$39M
Morgan Creek Digital
VC Fund
3 United States, Canada, Israel Seed, Series A, Series B Blockchain, FinTech, Financial Services $3.2M–$200M
Digital Strategies
VC Fund
3 United States, Singapore, Canada Seed, Initial Coin Offering Blockchain, Cryptocurrency, Financial Services $2M–$34M
Genblock Capital
VC Fund
3 United States, Singapore, United Kingdom Seed, Initial Coin Offering Blockchain, Cryptocurrency, Financial Services $1.2M–$314M
Passion Capital
VC Fund
3 United Kingdom, United States, Germany Seed, Series A, Series B Software, FinTech, Financial Services $573k–$85M
Blockchain Founders Fund
VC Fund
3 United States, United Kingdom, Singapore Seed, Pre-Seed Blockchain, Cryptocurrency, FinTech $200k–$6M
FJ Labs
VC Fund
3 United States, Brazil, United Kingdom Seed, Series A, Series B Software, E-Commerce, Financial Services $1.2M–$65M
Mapleblock Capital
VC Fund
3 United States, Singapore, Switzerland Seed, Venture - Series Unknown, Series A Blockchain, Cryptocurrency, FinTech $1.8M–$62M
Neosfer
VC Fund
3 Germany, United Kingdom, Estonia Seed, Series A, Venture - Series Unknown Software, FinTech, SaaS $807k–$14M
Blocksync Ventures
VC Fund
3 Singapore, United Kingdom, Estonia Seed, Pre-Seed Blockchain, Cryptocurrency, Financial Services $50k–$5M
Siena Capital
VC Fund
3 Estonia, Latvia Seed, Pre-Seed, Convertible Note Financial Services, Banking, FinTech $55k–$4.8M
Kyros Ventures
VC Fund
3 United States, Singapore, Vietnam Seed, Venture - Series Unknown, Series A Blockchain, Cryptocurrency, Gaming $50k–$50M
Pinto Ventures
VC Fund
3 United Kingdom, Estonia, Germany Seed, Pre-Seed, Angel FinTech, Financial Services, Software $295k–$1.4M
Serafund
VC Fund
3 United States, United Kingdom, Kenya Seed, Series A, Pre-Seed Blockchain, Cryptocurrency, Information Technology $650k–$50M
Giesecke+Devrient Ventures
VC Fund
3 Germany, Switzerland, France Seed, Series A, Venture - Series Unknown Information Technology, Artificial Intelligence, FinTech $546k–$21M
Speedinvest
VC Fund
3 United Kingdom, Germany, Austria Seed, Series A, Pre-Seed Software, FinTech, Financial Services $411k–$33M
CMS Holdings
VC Fund
3 United States, Singapore, Hong Kong Seed, Series A Blockchain, Cryptocurrency, Financial Services $1.5M–$21M
TA Ventures
VC Fund
2 United States, Germany, India Seed, Series A, Pre-Seed E-Commerce, Software, Health Care $150k–$24M
EstBAN
VC Fund
2 Estonia, Lithuania, Latvia Seed, Pre-Seed, Angel Software, CleanTech, Manufacturing $197k–$2.2M
SeedBlink
VC Fund
2 Romania, United States, United Kingdom Seed, Pre-Seed, Series A Software, SaaS, Information Technology $137k–$35M
Portage Ventures
VC Fund
2 United States, Canada, United Kingdom Seed, Series A, Series B FinTech, Financial Services, Software $2M–$80M
DEPO Ventures
VC Fund
2 Czech Republic, United States, Estonia Seed, Pre-Seed, Convertible Note Software, Artificial Intelligence, Information Technology $317k–$4.3M
CMT Digital
VC Fund
2 United States, Singapore, United Kingdom Seed, Series A Blockchain, Cryptocurrency, Financial Services $2.2M–$40M
Tolaram Group
VC Fund
2 India, Brazil, Estonia Seed, Corporate Round, Equity Crowdfunding FinTech, Financial Services, Credit $700k–$1.5M
Opus11 VC
VC Fund
2 Estonia, United Kingdom Seed, Pre-Seed SaaS, Battery, Electronics $1.3M–$3.4M
SV Angel
VC Fund
2 United States, Canada, United Kingdom Seed, Series A, Series B Software, Artificial Intelligence, Internet $1M–$100M
MV Global
VC Fund
2 United States, United Kingdom, Hong Kong Seed, Initial Coin Offering Blockchain, Cryptocurrency, Gaming $100k–$60M
Phoenix VC
VC Fund
2 United States, Estonia, India Seed, Initial Coin Offering Blockchain, Information Technology, FinTech $2.4M–$5.9M
DIGITAL ASSETS
VC Fund
2 Estonia Seed, Pre-Seed Gaming, Blockchain, Cryptocurrency
Morningstar Ventures
VC Fund
2 United States, Singapore, United Kingdom Seed, Series A Blockchain, Cryptocurrency, Gaming $1.5M–$25M
STIHL Ventures
VC Fund
2 Germany, Denmark, Estonia Seed, Series A, Convertible Note Pet, SaaS, Solar $2.1M–$10M
Pnyx Ventures
VC Fund
2 United States, Canada, Singapore Seed, Series A Blockchain, Cryptocurrency, Financial Services $1.2M–$19M
Access all 235 VC funds in Estonia Financial Services startups.

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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Lemonade Stand
VC Fund · Tallinn, Harjumaa, Estonia · 13 investments in Estonia Financial Services startups

Lemonade Stand is a VC fund that focuses on early stage B2B investments in Baltic and East European founders no matter the HQ location. Investing €25-300K in strong teams, technology or traction.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Estonia, Lithuania, India

Investor stats

  • Total investments: 43
  • Round size: Seed $1M–$3M; Pre-Seed $251k–$2.3M; Venture - Series Unknown $302k–$814k
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Ligence — AI Automated Echocardiography - Artificial intelligence-powered automated heart ultrasound echo lab system.
  • Soldera — Soldera is unifying energy certificate registries. We give corporate energy buyers, sustainability teams, procurement teams, utilities, and traders one infrastructure layer across fragmented registries so they can procure, manage, and cancel renewable energy certificates with far less manual work.The platform combines aggregated procurement fromthousands of utilities with cleaner registry execution and audit-ready, government-backed cancellation statements traceable to the generating machine. That makes renewable energy certificate management easier to run, easier to evidence, and easier to scale across markets.
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Superangel
VC Fund · Tallinn, Harjumaa, Estonia · 10 investments in Estonia Financial Services startups

Early-stage investments from entrepreneurs to entrepreneurs. Our companies include Bolt, Veriff, Fortumo and many more. 10x@superangel.io

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Investment focus

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

Investor stats

  • Total investments: 82
  • Round size: Seed $800k–$6.2M; Pre-Seed $170k–$1.6M; Series A $5.6M–$20M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — raised $32M in 2022

Portfolio highlights

  • OTee — OTee's Industrial Automation platform makes it possible to create and manage industrial-grade virtual control systems, based on open standards and architecture!
  • Spiral Hydrogen — All-in-one, bubble-free centrifugal electrolyzer with an embedded axial flux generator that sets a new standard in efficiency and simplicity.
  • Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
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Icebreaker.vc
VC Fund · Helsinki, Southern Finland, Finland · 7 investments in Estonia Financial Services startups

Founded in 2016, Icebreaker has invested in over 50 fast-growing tech startups built by domain expert founders from companies like Rovio, Nordea, Pipedrive, Eniram, IBM and BCG. In addition to the fund, Icebreaker also runs a community of more than 1000 founders and pre-founders with 5+ years of relevant industry experience and the will to start,build or join strong tech companies.With the initial ticket sizes of €150k - 800K Icebreaker provides enough funding for companies to get to a position of strength and avoid post-accelerator limbo without having to resort to disreputable sources of capital and unfriendly deal terms.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Finland, Sweden, Estonia

Investor stats

  • Total investments: 142
  • Round size: Seed $409k–$5.4M; Pre-Seed $110k–$1.2M; Series A $3.1M–$25M
  • Lead/follow: 56% lead, 44% follow
  • Last fund: May invest from a new fund soon — raised $24M in 2021

Portfolio highlights

  • Cytely — Cytely operationalizes biological measurement, turning microscopy into standardized, reproducible data so research teams can accelerate discovery.
  • Oplane — Connect your repo. See and fix your vulnerabilities in minutes. AI-powered threat modeling - no consultants, no weeks of docs.
  • ReOrbit — Looking for a way to keep your data flowing in space? ReOrbit has you covered with our line of autonomous and inter-networking satellites!
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Karma Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 6 investments in Estonia Financial Services startups

karma.vc is an early stage venture capital fund focusing on seed and early stage technology companies in Europe.

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Investment focus

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

Investor stats

  • Total investments: 54
  • Round size: Seed $549k–$4.8M; Series A $3.9M–$17M; Series B $3.1M–$30M
  • Lead/follow: 59% lead, 41% follow
  • Last fund: Likely still investing — raised $113M in 2021

Portfolio highlights

  • Mindgard — Mindgard is the leading provider of AI Red Teaming solutions.
  • Leil Storage — ON-PREMISES DISTRIBUTED FILE STORAGE WITH CLOUD-SCALE DENSITY+23% extra FREE capacity and density NOW +23% extra FREE capacity and density NOW +20% lower CO₂ emissions and power costs NOW up to +70% saved energy in the futureFirst distributed filesystem that supports the biggest HDDs on the planet, enabling enterprises with HM-SMR basedstorage.
  • Starship Technologies — The future of delivery - today!
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Practica Capital
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania · 6 investments in Estonia Financial Services startups

Practica Capital

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Investment focus

  • Industry: Software, B2B, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Lithuania, United Kingdom, United States

Investor stats

  • Total investments: 134
  • Round size: Seed $219k–$3.3M; Pre-Seed $555k–$2.4M; Series A $2.4M–$30M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — raised $85M in 2022

Portfolio highlights

  • Creem — Creem is the all-in-one platform where software companies run payments, taxes, affiliates and revenue - together Finance for humans building online
  • kopa.ai — AI agents for e-commerce growth.
  • Outcraft AI — Outcraft AI is the autonomous revenue engine built to drive growth across the entire customer lifecycle.
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BlackFin Capital Partners
VC Fund · Paris, Ile-de-France, France · 6 investments in Estonia Financial Services startups

BlackFin Capital Partners is the leading pan-European Financial Services PE Platform. The team consists of +35 experienced professionals from several nationalities.

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Investment focus

  • Industry: Financial Services, FinTech, Software
  • Stage:Series A, Private Equity, Series B
  • Geography: France, Germany, Denmark

Investor stats

  • Total investments: 86
  • Round size: Series A $5.9M–$19M; Series B $10M–$100M
  • Lead/follow: 56% lead, 44% follow
  • Last fund: Likely actively investing — fresh fund, raised $1.9B in 2024

Portfolio highlights

  • Cryptio — We offer enterprise-grade accounting, reporting, and audit software for your digital assets.
  • ETFbook — ETFbook provides an information and analytic platform focused on exchange-traded funds (ETFs). It offers data, analytics, and insights to help users make informed decisions about fund selection, trading possibilities, and expense ratios. The platform is designed to broaden the effective use of ETFs by providing comprehensive tools and dashboardsfor analysis.
  • Wealthcome — Wealthcome has created a technological ecosystem for all players involved in wealth management, private management, and personal finance management. Our objective is straightforward: to make all phases of asset monitoring, analysis, and optimization accessible, simple, enjoyable, and exact.
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Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia · 6 investments in Estonia Financial Services startups, 7 in the past 12 months

United Angels VC is an early stage venture capital fund based in Estonia.

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Investment focus

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

Investor stats

  • Total investments: 71
  • Round size: Seed $545k–$4.6M; Pre-Seed $240k–$2.3M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — raised $57M in 2022

Portfolio highlights

  • Copla — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.
  • CyberUpgrade — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.
  • Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
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Tera Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 6 investments in Estonia Financial Services startups

Tera Ventures is an international investment firm based in Estonia.

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Investment focus

  • Industry: Software, Artificial Intelligence, FinTech
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Estonia, United States, United Kingdom

Investor stats

  • Total investments: 71
  • Round size: Seed $587k–$3.8M; Pre-Seed $120k–$2.2M; Series A $1.6M–$14M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • BlackWall — Protect your web site from hacking, content theft, crawling, and cloning!
  • Cino — Cino automatically deducts everyone's share from their bank accounts. Create groups with whom you want to share bills, set your ratio split & stop fronting costs!
  • Flowstep — Flowstep is a copilot that helps you create better designs, 10x faster. Just type and get user flows, high-fidelity UI, JTBD and more.
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Thorgate Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 5 investments in Estonia Financial Services startups

We invest both capital and our know-how into startups. Join us and let's change the world

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Investment focus

  • Industry: Software, SaaS, FinTech
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, United Kingdom, Norway

Investor stats

  • Total investments: 25
  • Round size: Seed $22k–$2.4M; Pre-Seed $23k–$664k; Series A $2.1M–$3.9M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Coursy.io — Make employee development more effective with LMS powered by Learning Design
  • Waybiller — Bulk TMS solution for end-to-end management: Waybiller transforms your logistics operations, allowing you to handle bulk shipments with precision and speed. The Best E-waybill Software & Bulk TMS Solution
  • Bilance — Bilance connects to 2,300+ European banks, syncs your transactions automatically and sorts them into budgets. On iOS and Android.
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Cryptomeria Capital
VC Fund · Singapore, Central Region, Singapore · 5 investments in Estonia Financial Services startups

We help you to enter the Chinese crypto market. We invest in blockchain projects.

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Investment focus

  • Industry: Blockchain, FinTech, Cryptocurrency
  • Stage:Seed, Venture - Series Unknown
  • Geography: Estonia, United States, Hong Kong

Investor stats

  • Total investments: 28
  • Round size: Seed $1M–$12M
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • HolmesAI — Clone your intelligence to build the closest AI Agent to the real you. https://t.co/JFpIsFBHPb
  • SYNTRA — Live AI trading system. Real-time execution, risk-managed positions, public trade feed. Signals, performance, transparency.
  • Zoo Finance — Zoo Finance is a pioneering DeFi protocol focused on unlocking liquidity from locked assets, empowering users to access capital more efficiently while maximizing the utility of their on-chain holdings.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
Gateway Ventures
VC Fund · Vienna, Wien, Austria · 4 investments in Estonia Financial Services startups

Gateway Ventures is Austria's biggest network of startup investors with currently over 4000 investors. We foster the Austrian and European startup eco-system by connecting investors and startups. Our startup portfolio covers FinTech, CleanTech, HeathTech, IT & Software, Big Data & Social Impact. We have financed >40 startups withseed fundings over € 30M+Gateway Ventures was founded in December 2015. Over 1000 investors and 200 partners are currently participating in the network, including European incubators, accelerators and VCs.https://www.gateway.ventures

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A
  • Geography: Germany, Austria, Italy

Investor stats

  • Total investments: 27
  • Round size: Seed $1.5M–$4.5M; Series A $3.4M–$11M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Cloov — Cloov helps fashion brands integrate rental, resale, and repair services seamlessly. Our white-label platforms, powered by an embedded website builder, connect directly to our software for automatic order management, dispatch, and payment processing.
  • hypt — hypt is a Swiss based SaaS marketing solution that empowers companies to digitalize word-of-mouth. By using our word-of-mouth manager companies are able to activate 40% of their customers to send out a personal recommendation to their peers increasing sales through word-of-mouth by 4 times. Our solution empowers our ICP customers in the finance andinsurance segments to strategically use and optimize the most authentic and cost effective advertising channel – word-of-mouth – and makes it an accessible asset of every marketing mix.
  • SOMAREALITY — SOMAREALITY provides eye tracking solutions for diverse industries. Improve healthcare, automotive, research & aviation with real-time cognitive insights.
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Zenith Family Office
VC Fund · 4 investments in Estonia Financial Services startups

Independent wealth management company devoted to handling the investments and personal needs of wealthy individuals

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Investment focus

  • Industry: SaaS, Commercial Real Estate, B2B
  • Stage:Pre-Seed, Seed, Venture - Series Unknown
  • Geography: Estonia, United States

Investor stats

  • Total investments: 6
  • Round size: Pre-Seed $27k–$549k
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Remato — Remato is all-in-one & mobile-first platform to seamlessly manage projects, people and assets. Budget estimating & task planning, field communications & work tracking, real-time overview & automated reports.
  • Moderan — Moderan is an online software for commercial real estate lease lifecycle management and asset reporting. So easy, any team can start using it in a day. Get your lease and property information organised. Save time with automated reports and make sure no deadline is missed.
  • VideoCV.io — Spend less time reading stacks of resumes, and more time on finding the best fit for your company. VideoCV helps you increase your hiring productivity by streamlining your talent management processes.
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AU21 Capital
VC Fund · San Francisco, California, United States · 4 investments in Estonia Financial Services startups

A fund dedicated to backing the most brilliant minds in the blockchain space

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Venture - Series Unknown
  • Geography: United States, Singapore, India

Investor stats

  • Total investments: 217
  • Round size: Seed $1.1M–$5.8M; Venture - Series Unknown $1.3M–$8M
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • A-World — Welcome to Animal World, a battle game based on #BNBCHAIN's super metaverse card tower defense. By setting up a hero tower to destroy monsters.
  • NeuronX — The First AI-Driven Lending Protocol on @dfinity
  • Vue Protocol — Community-First Layer for AI Memecoins. @solana @pumpdotfun @ton_blockchain Dvo1Fb7FxtUxsLbcQaizftfUT9HtL9P6swaQAScZDeQQ
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SMOK Ventures
VC Fund · Warsaw, Mazowieckie, Poland · 4 investments in Estonia Financial Services startups

Bridging Silicon Valley to CEE

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Pre-Seed
  • Geography: Poland, United States, Ukraine

Investor stats

  • Total investments: 83
  • Round size: Seed $477k–$3M; Pre-Seed $54k–$1.4M
  • Lead/follow: 54% lead, 46% follow
  • Last fund: Likely still investing — raised $25M in 2024

Portfolio highlights

  • Paypercut — Paypercut is a fintech startup that allows small and mid-scaled merchants to offer Buy Now, Pay Later at checkout via a single integration.
  • Primio — The platform that takes an app from idea to install, because code stopped being the bottleneck.
  • Principle — Test your strategic decisions before you commit. Principle simulates competitors, regulators, and market forces to stress-test your bets against adversarial reality.
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ZBS CAPITAL
VC Fund · Kyiv, Kyyiv, Ukraine · 4 investments in Estonia Financial Services startups

ZBS Capital - distinguished crypto venture fund, backed by major media resources including CryptoDiffer.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Financial Services
  • Stage:Seed, Venture - Series Unknown
  • Geography: United States, Singapore, United Kingdom

Investor stats

  • Total investments: 161
  • Round size: Seed $1M–$6M; Venture - Series Unknown $2M–$6M
  • Lead/follow: 1% lead, 99% follow
  • Last fund: May invest from a new fund soon — raised $500k in 2017

Portfolio highlights

  • Yellow — Yellow is a financial services provider of software, analytics, and investments in blockchain startups.
  • KIP Protocol — KIP Protocol is a decentralised AI framework unlocking digital property rights of Knowledge Assets in the AI-powered future.
  • Alliance Games — Build Beyond Limits. Multiplayer for the Next, Decentralized Era.
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Token Ventures
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 4 investments in Estonia Financial Services startups

We see a bright future of blockchain-based technologies.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Web3
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Estonia, Switzerland, France

Investor stats

  • Total investments: 9
  • Round size: Seed $650k–$3.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Elusiv — Elusiv offers compliance in mind with next-generation privacy solutions for a better Web3.
  • Blockmate — Connect millions of crypto users to your app with a single API
  • Teneo Protocol — Teneo Protocol is a decentralized physical infrastructure network (DePIN) initiative.
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ff Venture Capital
VC Fund · New York, New York, United States · 4 investments in Estonia Financial Services startups, 6 in the past 12 months

ff Venture Capital (ffVC) is a technology venture capital firm investing in some of the strongest growth areas to date, including cybersecurity, artificial intelligence, machine learning, drones, enterprise cloud software, and crowdfunding. The firm identifies and invests in technology and technology-enabled companies at its inception acrossgeographies and emerging industries. With three partners and an acceleration team of 20+ investment and operations professionals, ffVC actively participates with founders to develop products, target markets, and accelerate growth. Since 2008, ffVC has invested in over 100 companies and has helped to create companies with an aggregate market value exceeding $6 billion.

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Investment focus

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

Investor stats

  • Total investments: 318
  • Round size: Seed $1M–$4.4M; Series A $1.5M–$12M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely still investing — raised $65M in 2023

Portfolio highlights

  • Pstryk — Pstryk is a mobile app that tracks expenditures in real time to help you make budget-conscious decisions about energy consumption.
  • DefendEye — World’s first fully Autonomous Drone, powered by AI, requires no human pilot, no setup, no programming, handling everything from Takeoff & Landing to Aerial Reconnaissance & Navigation. Launch-Tube can be in a backpack, or installed on a fence. It’s very simple to install, and it’s low cost. The drone searches & navigates to humans. AIDetects humans faster & more accurate than humans can.
  • FlyFocus — We specialize in the design and production of unmanned aerial vehicles for the civilian market and law enforcement.
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Spark Digital Capital
VC Fund · New York, New York, United States · 4 investments in Estonia Financial Services startups

Established in 2017, Spark Digital Capital is an NY based family office that invests in Blockchain-enabled companies. They firmly believe in a future where blockchain not only plays a significant role in the world but also creates unlimited efficiencies and opportunities to the society and people’s lives. With their teams' strong finance andtechnology background they aim to bring blockchain into prosperity.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Singapore, United States, Hong Kong

Investor stats

  • Total investments: 141
  • Round size: Seed $1.2M–$6.6M; Pre-Seed $300k–$1.5M
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • Zengo — Zengo is the most secure crypto wallet: The only self-custodial wallet with no private key vulnerability. Powered by MPC, always recoverable, never hacked.
  • DeepSafe — The world's first Cryptographic Random AI Verification Network for trustless verification of any on-chain and off-chain messages.
  • SecondLive — SecondLive is a diversified metaverse focused on building social networks and supporting creator economic activities.
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Change Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 4 investments in Estonia Financial Services startups

We are a seed stage venture capital fund based in the Baltic states, backing ambitious Baltic founders anywhere in the world.

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Investment focus

  • Industry: Software, Information Technology, Apps
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, Latvia, Lithuania

Investor stats

  • Total investments: 65
  • Round size: Seed $500k–$4.2M; Pre-Seed $273k–$2.2M; Series A $1M–$39M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • BirdyChat — A modern work chat app for professionals. Start conversations with anyone using their work email. Collaborate and grow your network.
  • Giraffe360 — Giraffe360 is game-changing subscription product for real estate companies to streamline professional quality photography and high accuracy floor plan creation.
  • Saltz — Premium ingredients for your menu with no hidden delivery fees or markups.
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Morgan Creek Digital
VC Fund · Chapel Hill, North Carolina, United States · 3 investments in Estonia Financial Services startups

Morgan Creek Digital is a hedge fund backed by Morgan Creek Capital. Morgan Creek Digital specializes in the fields of digital asset management, financial services, and venture capital. It was founded in 2004 and headquartered in Chapel Hill, North Carolina.

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Investment focus

  • Industry: Blockchain, FinTech, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, Israel

Investor stats

  • Total investments: 47
  • Round size: Seed $3.2M–$14M; Series A $10M–$200M; Series B $7M–$155M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — raised $80M in 2021

Portfolio highlights

  • Blitzy — You Describe It, We Build It
  • Oxmiq Labs — Licensable GPU IP and a unified runtime for the age of inference. OXMIQ Labs is re-architecting the GPU stack from atoms to agents.
  • Venice — Private & Unrestricted AI | https://t.co/iIt1pyF1TK
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Digital Strategies
VC Fund · 3 investments in Estonia Financial Services startups

Blockchain investments & value-add advisory for frontier technologies.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Financial Services
  • Stage:Seed, Initial Coin Offering
  • Geography: United States, Singapore, Canada

Investor stats

  • Total investments: 32
  • Round size: Seed $2M–$10M; Initial Coin Offering $5.5M–$34M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • XRADERS — Powering informed decision making for investors XRADERS
  • Root Protocol — ISME is building an operating system with the composition of an intent-centric aggregator of digital identity, virtual accounts, social graphs, and more to enable unified access to Web3.
  • TON Strategy Company — VERB Technology Company is a software-as-a-Service, or SaaS, applications platform developer. Its platform is comprised of sales enablement business software products marketed on a subscription basis. The applications are available in both mobile and desktop versions. It includes verbCRM, Customer Relationship Management application, verbLEARN,Learning Management System application, and verbLIVE, its Live Broadcast Video Webinar application.
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Genblock Capital
VC Fund · San Francisco, California, United States · 3 investments in Estonia Financial Services startups

Genblock Capital invests exclusively in blockchain and cryptocurrency, with a focus on decentralized finance.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Financial Services
  • Stage:Seed, Initial Coin Offering
  • Geography: United States, Singapore, United Kingdom

Investor stats

  • Total investments: 154
  • Round size: Seed $1.2M–$8M; Initial Coin Offering $5M–$314M
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • OX.FUN — Trade Bitcoin, Ethereum and trending altcoin derivatives on the most FUN exchange around. Join OX.FUN today and earn up to 200% yield. Moo.
  • AINN Layer2 — AINN Layer2 is a decentralized Bitcoin Layer2 network development.It promotes large-scale AI applications
  • Sanctum — Stake SOL and earn optimized LST returns from JupSOL, bbSOL, and more, and launch your own custom LST and Solana validator.
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Passion Capital
VC Fund · London, England, United Kingdom · 3 investments in Estonia Financial Services startups

Passion Capital is a partnership of entrepreneurs and operators who are applying our experiences to helping founders and early-stage teams build great digital media/technology companies. We are committed to fostering an ecosystem of technology, collaboration and executional excellence in Europe, and we believe that the criticaldifferentiator and key asset of a successful business is the passion and ability of its founders. We take pride in the calibre and success of all of our founders and teams including but nowhere near limited to GoCardless, Tray.io, Mendeley, Digital Shadows, Adzuna, Smarkets, Ravelin, Tide, Marshmallow, Butternut Box, PolyAI, Lendable and Monzo Bank

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Investment focus

  • Industry: Software, FinTech, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: United Kingdom, United States, Germany

Investor stats

  • Total investments: 183
  • Round size: Seed $573k–$6.5M; Series A $2.3M–$14M; Series B $5.9M–$85M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: Likely actively investing — fresh fund, raised $52M in 2025

Portfolio highlights

  • geoSurge — Customers don't search. They ask.
  • Secondmind — Secondmind is Engineering AI software that helps engineers stay in control of rising complexity - reaching reliable answers faster with far fewer tests and simulations.
  • Opensignal — Opensignal is the leading global provider of independent insights into network experience and market performance.
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Blockchain Founders Fund
VC Fund · Singapore, Central Region, Singapore · 3 investments in Estonia Financial Services startups

We Focus Exclusively On Adding Value To Blockchain & Emerging Technology Projects With Real World Applications.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, FinTech
  • Stage:Seed, Pre-Seed
  • Geography: United States, United Kingdom, Singapore

Investor stats

  • Total investments: 267
  • Round size: Seed $500k–$6M; Pre-Seed $200k–$2.5M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: Likely still investing — raised $75M in 2022

Portfolio highlights

  • Rilla — Demonstrating 90% reduction in cost-to-serve for live-streaming, Rilla is rewiring the content economy, directing the value generated back to creators and their communities.By leveraging audience bandwidth and rewarding them with ownership in the network, the savings are equivalent to a free month subscription every year for a moderate level ofviewership.Founded by the technical founders behind Altered State Machine, acquired for 214m. Together for 5+ ventures, collectively raising 130m+ and valued at 1b+.
  • Osmo — Osmo is a payment company that helps people to send and receive money immediately.
  • Uniblock — Uniblock helps connect developers with Web3 using our APIs and services. Our developers use Uniblock because of how easy it is to integrate into exciting applications. Try it for free today!
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FJ Labs
VC Fund · New York, New York, United States · 3 investments in Estonia Financial Services startups

FJ Labs is a stage-agnostic investment firm that focuses on marketplaces and consumer facing startups.

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Investment focus

  • Industry: Software, E-Commerce, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: United States, Brazil, United Kingdom

Investor stats

  • Total investments: 1747
  • Round size: Seed $1.2M–$9.7M; Series A $5M–$30M; Series B $11M–$65M
  • Lead/follow: 4% lead, 96% follow
  • Last fund: May invest from a new fund soon — raised $5.5M in 2016

Portfolio highlights

  • HUNTY — HUNTY is a platform that help people find jobs by connecting them with world class mentors who prepare them for the job search process. And people only pay when they get hired.
  • Lastro — Lastro is building Lais, an autonomous AI worker for real estate agencies, starting in Brazil. Our AI agent initially automated lead engagement and qualification via WhatsApp, helping brokerages boost revenue and improve marketing ROI. In each brokerage, Lais acts as a personalized AI “team member” that engages with leads instantly, searches forproperties and answers common inquiries. Brokerages that have Lais in their teams are growing quickly and reporting up to 60% increases in lead conversion rates.
  • Wash Wise — Meet Reset Spray: the dry shampoo for clothes. Refresh lightly worn garments in seconds by neutralizing odors, lifting away sweat and body oils, and releasing wrinkles between washes.
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Mapleblock Capital
VC Fund · Delhi, Delhi, India · 3 investments in Estonia Financial Services startups

Mapleblock Capital is an investment firm that exclusively consults and invests in crypto-assets and blockchain companies. It was founded in 2017 and is headquartered in Delhi, India.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, FinTech
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: United States, Singapore, Switzerland

Investor stats

  • Total investments: 73
  • Round size: Seed $1.8M–$15M; Series A $3.2M–$20M; Venture - Series Unknown $5M–$62M
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • Vangrid — Vangrid operates as a decentralized physical infrastructure network.
  • ORO — ORO is an AI-powered DeFi companion that lets users manage, trade, stake, lend, and research crypto assets through natural-language conversations, ORO aims to simplify onchain finance by bringing portfolio management and DeFi actions into one conversational interface.
  • Fortune Protocol — Fortune Protocol brings the age- old tradition of fortune cookies to the modern prediction market.
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Neosfer
VC Fund · Frankfurt, Hessen, Germany · 3 investments in Estonia Financial Services startups

Neosfer (formerly main incubator) is the early stage investor and innovation unit of Commerzbank Group.

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Investment focus

  • Industry: Software, FinTech, SaaS
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Germany, United Kingdom, Estonia

Investor stats

  • Total investments: 56
  • Round size: Seed $807k–$7.5M; Series A $4.9M–$14M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Terra One — Terra One engages in the development and operation of large-scale battery storage systems.
  • Fairown — Fairown is a fintech company helping banks, brands, and retailers offer products as a service. Unlike BNPL solutions, we provide a unique payment platform, which allows environmentally conscious businesses to offer products for monthly subscriptions, and manage product renewal cycles.
  • Bling.de — The pocket money card and app that empowers children & teens to be money-smart. Safe, simple and educational.
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Blocksync Ventures
VC Fund · 3 investments in Estonia Financial Services startups

Blocksync Ventures is an Investment firm specialising in digital assets.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Financial Services
  • Stage:Seed, Pre-Seed
  • Geography: Singapore, United Kingdom, Estonia

Investor stats

  • Total investments: 56
  • Round size: Seed $1M–$5M; Pre-Seed $50k–$3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Enjinstarter — Web 3.0 Entertainment, Sports, Fashion, Metaverse, Social, Gamefi & Gamified Utility
  • Zeitgeist PM — Zeitgeist PM is a blockchain tech to facilitate prediction markets and the futarchy form of governance.
  • Genesis Shards — Crafting a whole new suite of NFT powered products across multiple blockchains
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Siena Capital
VC Fund · 3 investments in Estonia Financial Services startups

Siena is a VC firm mainly investing in startups in Estonia and California

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Investment focus

  • Industry: Financial Services, Banking, FinTech
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: Estonia, Latvia

Investor stats

  • Total investments: 6
  • Round size: Seed $2.7M–$4.8M; Pre-Seed $55k–$393k
  • Lead/follow: 0% lead, 100% follow
  • Last fund: May invest from a new fund soon — raised $61M in 2021

Portfolio highlights

  • Tuum — Tuum is a cloud-native banking platform that is spearheading the next generation of digital innovation in the financial services industry. Built around a microservices architecture, the platform consists of flexible and independent modules covering all retail and business banking capabilities. The platform is API-based for quick and easyintegration and can run on all major cloud providers, as well as on private clouds. Founded by a team of banking and technology experts in 2019, Tuum combines technological excellence with in-depth banking knowledge and packages it into a sophisticated, cutting-edge platform. Tuum currently employs over 60 people with offices in Tallinn, Berlin and Malaga
  • Wisnio — Great things in business are never done by one person, but by high-performing teams.Teamscope was founded by leading executive search professionals, data scientists, and tech entrepreneurs to help managers make better hiring decisions and build more engaged, high-performing teams.The teamscope platform combines big data analytics withscientific testing to analyze teams and help team leaders make better hiring decisions. Our unique algorithm analyzes the values, personality characteristics, and core competencies of team members to first profile the existing team. Based on that, the platform recommends what characteristics to look for in a candidate and evaluates how well each candidate fits in with the role and the team. The platform then generates a detailed behavioral profile and interview guide for each candidate to help the hiring manager choose the best person for the team.
  • Solid World — A DAO that will create new carbon projects
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Kyros Ventures
VC Fund · 3 investments in Estonia Financial Services startups

We are the gateway of accessibility to Vietnam, the fastest-growing crypto market in the world.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: United States, Singapore, Vietnam

Investor stats

  • Total investments: 119
  • Round size: Seed $1.1M–$6M; Series A $1.5M–$50M; Venture - Series Unknown $50k–$10M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Portal to Bitcoin — The only custody-less interoperability protocol for Bitcoin. Swap native BTC, Ordinals, Runes with L2s and L1s
  • Euler — The credit layer for programmable finance
  • WorkQuest — About WorkQuest WorkQuest is a decentralized employment and workforce automation protocol enabling employers and workers to collaborate through smart contracts, stablecoin payments, AI matching engines, and on-chain reputation scoring. The platform transforms global employment into a transparent, verifiable, and borderless digital labor economy.
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Pinto Ventures
VC Fund · Zug, Zug, Switzerland · 3 investments in Estonia Financial Services startups

We provide the capital, the time and support you need to build your most ambitious and successful business

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Investment focus

  • Industry: FinTech, Financial Services, Software
  • Stage:Seed, Pre-Seed, Angel
  • Geography: United Kingdom, Estonia, Germany

Investor stats

  • Total investments: 15
  • Round size: Seed $295k–$1.2M; Angel $1M–$1.4M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • eTEU — eTEU is a startup that works on documentation process optimisation and digitalisation in the container shipping industry
  • Roundabout — La piattaforma per gestire in pochi click le tue campagne di influencer marketing raccontando i tuoi valori e le tue idee. Scopri subito il tool!
  • Vonzu — VONZU is a SaaS solution for logistics and delivery management, which allows orchestration of the entire supply chain by integrating retailers and logistics operators in the same cloud ecosystem.
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Serafund
VC Fund · Vancouver, British Columbia, Canada · 3 investments in Estonia Financial Services startups

Backing the next wave of digital disruptors

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, United Kingdom, Kenya

Investor stats

  • Total investments: 53
  • Round size: Seed $1M–$20M; Pre-Seed $650k–$2.5M; Series A $7M–$50M
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • pieverse — Pieverse is a Web3 platform that turns people’s time into tradable digital value.
  • Meridian — Meridian is a Movement-native decentralized liquidity marketplace and liquid staking system that allows users to trade and earn with their assets smoothly.
  • Movement Labs — Movement Labs is on a mission to create a global community of Move Builders, working together to improve decentralized network user experience.
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Giesecke+Devrient Ventures
VC Fund · München, Bayern, Germany · 3 investments in Estonia Financial Services startups

G+D Ventures is active since 2018 and founded by Venture Capitalists. We invest in growth-oriented companies, whose innovations promote trust in our society.

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Investment focus

  • Industry: Information Technology, Artificial Intelligence, FinTech
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Germany, Switzerland, France

Investor stats

  • Total investments: 20
  • Round size: Seed $546k–$7.6M; Series A $5M–$21M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Saporo — Improve cyber resistance by prioritizing and reducing user access risk.
  • CENSE AG — Regtech company that solves the compliance challenges with crypto for banks
  • Blockbrain — AI-Driven Business Excellence
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Speedinvest
VC Fund · Vienna, Wien, Austria · 3 investments in Estonia Financial Services startups

Speedinvest is a globally active European venture capital firm built on a simple belief: many move more. From six offices across EMEA, our sector-focused investment teams back relentless founders from pre–Seed to Growth with long-term conviction, providing day-one access to our global network of corporate customers, experts, industry leaders, andtop-tier follow-on investors to scale smarter and faster. Building lasting companies like Bitpanda (Austria), Moove (Nigeria), Gigs (U.S.), Tide (UK), ARX Robotics (Germany), Wayflyer (Ireland), GoStudent (Austria), Seqera Labs (Spain), and Cylib (Germany) — together. Big ideas may start with one. But scaling and winning take The Power of More.

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Investment focus

  • Industry: Software, FinTech, Financial Services
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United Kingdom, Germany, Austria

Investor stats

  • Total investments: 662
  • Round size: Seed $798k–$7.9M; Pre-Seed $411k–$3.8M; Series A $4.1M–$33M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely still investing — raised $372M in 2022

Portfolio highlights

  • Findery — Find and leave notes anywhere in the world, discover local knowledge, hidden secrets, and exciting stories. Share your travel knowledge, geoblog, or local news!
  • GAMINSIDE — GAMINSIDE revolutionizes your relationship with your customers. As European full service provider, we deliver the complete package with solutions, services and software for gamified loyalty that is tailor-made and unique to your products, brands and customers. Integrate the best ideas from gamification and customer loyalty in your business areato exceed your commercial targets with GAMINSIDE.
  • Polaron — Material Design. Supercharged with AI.
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CMS Holdings
VC Fund · New York, New York, United States · 3 investments in Estonia Financial Services startups, 7 in the past 12 months

CMS is a principal investment company that focuses on investing in the crypto-asset ecosystem. The firm plans to invest in both liquid and illiquid crypto tokens, as well as equity interests in select businesses.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Financial Services
  • Stage:Seed, Series A
  • Geography: United States, Singapore, Hong Kong

Investor stats

  • Total investments: 178
  • Round size: Seed $1.5M–$7.5M; Series A $2.8M–$21M
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • Axis — Turning market inefficiencies into tokenized alpha. Backed by @galaxyhq, @FalconXGlobal, @okx.
  • Zoo Finance — Zoo Finance is a pioneering DeFi protocol focused on unlocking liquidity from locked assets, empowering users to access capital more efficiently while maximizing the utility of their on-chain holdings.
  • Hypernova — The onchain prop firm, built to back traders.
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TA Ventures
VC Fund · Frankfurt, Hessen, Germany · 2 investments in Estonia Financial Services startups

TA Ventures is a global, network-driven VC firm investing in early-stage tech startups that redefine the industries of tomorrow. We typically write initial checks of $100-250K for Pre-Seed and Seed companies and actively provide follow-on investments. We pride ourselves on swift execution, hands-on support, and leveraging our extensiveinternational network. By connecting our portfolio companies with growth-oriented co-investors, we help them scale effectively through subsequent funding rounds. Additionally, we draw on our deep industry expertise to offer portfolio companies and partner VCs access to top-tier, cost-efficient R&D talent.

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Investment focus

  • Industry: E-Commerce, Software, Health Care
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Germany, India

Investor stats

  • Total investments: 200
  • Round size: Seed $580k–$6.4M; Pre-Seed $150k–$3M; Series A $2.5M–$24M
  • Lead/follow: 7% lead, 93% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • MoonPay — MoonPay offers a fast and simple way to buy and sell cryptocurrencies. Buy crypto with credit card, bank transfers or Apple Pay today.
  • Blossom Health
  • SpeedLabs — SpeedLabs is a real-time market engine for sports and creates and prices new markets in seconds.
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EstBAN
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Financial Services startups

More than just a business angel network Building synergy between startups and angel investors EstBAN is member led organisation committed to finding, funding and mentoring ambitious young companies from pitch through to a successful exit. About estban Latest news Created with Fabric.js 3.5.0 All news For investors Get access to quality pre-selected internationaldeal-flow, and be

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Investment focus

  • Industry: Software, CleanTech, Manufacturing
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Estonia, Lithuania, Latvia

Investor stats

  • Total investments: 22
  • Round size: Seed $215k–$2.2M; Angel $212k–$1M; Pre-Seed $197k–$1.2M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • BrachyDOSE — BrachyDOSE - is a med-tech startup dedicated to solve radiation injuries that occur during the brachytherapy procedure. Our team consists of engineers and physicists experience in scientific research.
  • Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
  • Granarium Technologies — Granarium Technologies is a Finnish deep-tech energy that creates renewable supercapacitors using only nanocellulose, biocarbon, and water, eliminating the need for mining entirely.
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Portage Ventures
VC Fund · Toronto, Ontario, Canada · 2 investments in Estonia Financial Services startups, 27 in the past 12 months

Portage Ventures is a global fintech-focused venture capital investor. The firm makes early-stage investments in promising Canadian financial tech companies that have potential for global impact.

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Investment focus

  • Industry: FinTech, Financial Services, Software
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 168
  • Round size: Seed $2M–$20M; Series A $6M–$32M; Series B $7.7M–$80M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — raised $451M in 2022

Portfolio highlights

  • getquin — Check out a getquin investor portfolio, its positions, dividends and real-time performance.
  • Nesto — LOW FROM THE GET GO. With nesto's exclusive mortgage solution, score the lowest rate on your first try! New mortgage - Mortgage Renewal / Refinance.
  • KOHO Financial — Open an everyday spending account online with instant cash back & premium rewards. Join over 1.5M Canadians using KOHO's prepaid Mastercard to spend, save, build and borrow. Sign up in minutes!
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DEPO Ventures
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 2 investments in Estonia Financial Services startups

DEPO Ventures is an angel network and VC (Grouport and DEPO Angels Fund II), which connects world of startups and investors.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: Czech Republic, United States, Estonia

Investor stats

  • Total investments: 62
  • Round size: Seed $564k–$4.3M; Pre-Seed $317k–$1.9M
  • Lead/follow: 15% lead, 85% follow

Portfolio highlights

  • Tapaya — Tapaya is a fintech infrastructure company that provides payment acceptance software designed to turn any device into a payment terminal.
  • PARTORY — PARTORY offers complete manufacturing solutions in engineering. PARTORY utilising AI and machine learning to streamline the procurement process for low-cost metal parts
  • WanderWallet
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CMT Digital
VC Fund · Chicago, Illinois, United States · 2 investments in Estonia Financial Services startups

An exciting new iteration of our website is coming soon. CMT Digital is a blockchain and digital assets focused subsidiary of the CMT Group, a 24 year-old trading and investments firm. The CMT Group has operated as a valued partner to entrepreneurs, traders, and technologists

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Financial Services
  • Stage:Seed, Series A
  • Geography: United States, Singapore, United Kingdom

Investor stats

  • Total investments: 207
  • Round size: Seed $2.2M–$13M; Series A $5M–$40M
  • Lead/follow: 7% lead, 93% follow

Portfolio highlights

  • Tazapay — Experience Tazapay's best-in-class global payment solutions for businesses. Our extensive network supports cards, local payment options, and bank transfers in over 173 countries, ensuring seamless collections, secure holding, and efficient payouts worldwide.
  • DePay — DePay is an Argentina-based real-time payments infrastructure startup.
  • The Giving Block — The Giving Block makes it easy for nonprofits to accept non-cash donations like crypto and stocks for 2,000+ nonprofits. The Giving Block is the largest platform that helps nonprofits accept crypto and stock donations. In 2022, it was acquired by Shift4, a publicly traded payments company.
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Tolaram Group
VC Fund · Singapore, Central Region, Singapore · 2 investments in Estonia Financial Services startups

Creating Possibilities, for Generations. For over 70 years, Tolaram has been improving lives through our businesses in diverse geographies. We aspire to do even more.

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Investment focus

  • Industry: FinTech, Financial Services, Credit
  • Stage:Seed, Corporate Round, Equity Crowdfunding
  • Geography: India, Brazil, Estonia

Investor stats

  • Total investments: 6
  • Round size: Seed $700k–$1.5M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • Click Cash — Click Cash is a mobile App that simplifies the complicated and bureaucratic process of personal unsecured lending to individuals. 
Available on Google Play Store for Android devices, the app uses BigData and Open Banking for a new approach to personal finance, enabling secure and reliable microcredit to financially underserved people, in additionto financial education to help them make the best use of the new credit options that are now opening for the general public.
 Based out of São Paulo (Brazil), the Fintech startup was originally idealized by Estonian entrepreneurs that saw in Brazil and Latin America the opportunity to develop their solution. Key founders bring 15+ years of experience in online lending in Europe and were founders of Amarbank in Indonesia in 2014, which made IPO in January 2020. 
In 2019 it was estimated 45M unbanked and 65M financially underserved, but active and connected people, in Brazil alone. A group that has a financial activity of more than U$154 billion / R$ 800 billion per year, and a huge unmet demand for microcredit.
 Click Cash offers, in a 5 minutes process, from 100 USD to 1.000 USD loans to be paid back in up to 24 months. Flexible and adapted to the new digital economy, we work with other Fintechs and traditional banks alike, using the most advanced technologies in Data Analytics and Mobile Security, i.e: facial recognition and device behavioral analytics, as well as financial history, that enables us to run a full credit analysis in seconds creating personalized offers per user. 
The Click Cash App was officially launched in March 2020, and by May 2021 had +460K downloads and reached Top 5 in finance Apps in Brazil, with 4+ stars rating in Google Play Store.
  • Income — Income is a European marketplace for investing into consumer loans from around the world. Built by investors to investors, we seek to fix the problems of the current peer to peer platforms and to make a better investment experience for all. We connect consumer lending companies around the world to investors and enable an easy, fast and improvedway to invest.
  • Shandi Global — Shandi Global is developing technology that will enable it to manufacture plant-based meat substitutes that have amino acid and protein profiles that are similar to real meats, and thus have more flexible use cases than the current offerings of patties, nuggets, and sausages.
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Opus11 VC
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Financial Services startups

Opus11 VC is an Investment firm.

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Investment focus

  • Industry: SaaS, Battery, Electronics
  • Stage:Seed, Pre-Seed
  • Geography: Estonia, United Kingdom

Investor stats

  • Total investments: 4
  • Round size: Seed $1.3M–$1.9M; Pre-Seed $1.3M–$3.4M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • VOOL — VOOL is a one-stop shop for EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.
  • Mifundo — Mifundo ensures trust between banks and individuals by providing secure, verified financial histories across borders.
  • Dragonfly Technology Limited — Software moves fast, and businesses are losing out. They’re using outdated tools, while watching competitors make strides with AI-first tech. But the fact is, the way teams discover and choose software has been broken for years. Dragonfly is a platform designed to simplify the process of software discovery with clarity, objectivity, and speed.With Dragonfly's proprietary AI-driven technology, businesses can make smarter, faster decisions by connecting their existing tech stack to a dynamic, curated dataset of the world’s most performant tools, to instantly provides contextual, personalised recommendations tailored to your unique challenges, goals, and stage of growth.Dragonfly is built to eliminate the confusion and bias from software selection. No more spreadsheets, vendor hype, or guesswork. With Dragonfly, your team can stay aligned, cut waste, and fast-track research. Whether you're scaling fast or looking for an AI-driven tool to enhance productivity, Dragonfly has you covered today and tomorrow.
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SV Angel
VC Fund · San Francisco, California, United States · 2 investments in Estonia Financial Services startups

SV Angel is a service organization, investing in founders who share these values. They support entrepreneurs in building lasting companies by assisting at key inflection points and leveraging networks to help them propel their businesses forward.

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Investment focus

  • Industry: Software, Artificial Intelligence, Internet
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 1289
  • Round size: Seed $1M–$11M; Series A $3M–$38M; Series B $8M–$100M
  • Lead/follow: 2% lead, 98% follow
  • Last fund: Likely actively investing — fresh fund, raised $430M in 2025

Portfolio highlights

  • Docker — Docker is a platform designed to help developers build, share, and run container applications. We handle the tedious setup, so you can focus on the code.
  • Opendoor Technologies — Opendoor is the new way to sell your home. Skip the hassle of listing, showings and months of stress, and close on your own timeline. Get a free offer today!
  • Hyperpublic — Hyperpublic is an open database of people, places, and things tied to a specific location. Anyone can add objects to the database and developers will be able to build applications on top of the data.
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MV Global
VC Fund · Central, Hong Kong Island, Hong Kong · 2 investments in Estonia Financial Services startups

Master Ventures is a blockchain focused venture studio. We combine visionary ideas, exceptional talent, and investment capital to invest and build the next generation of revolutionary blockchain businesses and products.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Initial Coin Offering
  • Geography: United States, United Kingdom, Hong Kong

Investor stats

  • Total investments: 90
  • Round size: Seed $1.1M–$8.6M; Initial Coin Offering $100k–$60M
  • Lead/follow: 4% lead, 96% follow
  • Last fund: May invest from a new fund soon — raised $30M in 2021

Portfolio highlights

  • 0G — The First Decentralized AI Operating System
  • Yellow — Yellow is a financial services provider of software, analytics, and investments in blockchain startups.
  • Mind Network — The 1st Fully Homomorphic Encryption (FHE) Restaking Layer for AI and POS Networks. Mind Network is backed by Binance Labs, Hashkey, Big Brain, Chainlink, etc.
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Phoenix VC
VC Fund · Dubai, Dubai, United Arab Emirates · 2 investments in Estonia Financial Services startups

Phoenix VC is a venture capital firm focused on blockchain technology and the digital currency ecosystem along with Market Development in the Middle East & Africa.

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Investment focus

  • Industry: Blockchain, Information Technology, FinTech
  • Stage:Seed, Initial Coin Offering
  • Geography: United States, Estonia, India

Investor stats

  • Total investments: 16
  • Round size: Seed $2.4M–$5.9M
  • Lead/follow: 6% lead, 94% follow

Portfolio highlights

  • Joystream — JoyStream is a blockchain powered decentralized media distribution, curation, discovery, and monetization platform.
  • Web3Auth — Web3Auth is simple, non-custodial auth infrastructure that enables Web3 wallets and applications to provide seamless user logins for both mainstream and native Web3 users.
  • Vee Finance — Bridge the gap between traditional banking and crypto Defi Earn fixed/flexible return on deposited assets
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DIGITAL ASSETS
VC Fund · 2 investments in Estonia Financial Services startups

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Investment focus

  • Industry: Gaming, Blockchain, Cryptocurrency
  • Stage:Seed, Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Legends of Elysium — Legends of Elysium (LoE) stands out as one of the most difficult and complex online trading card games, combining deep strategic card play with hex-based board mechanics for a unique tactical experience. Players must navigate intricate deck-building, manage limited resources, and control the battlefield by terraforming lands to meet card requirements. The game challenges even seasoned players with dynamic unit movement, terrain control, and strategic hero selection, making it one of the hardest tactical card games online. Every decision impacts the outcome, demanding foresight, adaptability, and mastery of complex mechanics to achieve victory.
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Morningstar Ventures
VC Fund · Dubai, Dubai, United Arab Emirates · 2 investments in Estonia Financial Services startups

We are a proprietary investment firm focused on digital assets and blockchain technology, primarily focused on the Elrond Ecosystem.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Series A
  • Geography: United States, Singapore, United Kingdom

Investor stats

  • Total investments: 149
  • Round size: Seed $1.5M–$10M; Series A $1.6M–$25M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • OP_NET — OPNET is a Bitcoin Layer 1 metaprotocol that enables smart contracts to function directly on the Bitcoin blockchain, without the use of sidechains or Layer 2 solutions.
  • Watch.fun — Open boxes, collect watches. Pull a Rolex today. Authenticated by Wristcheck. Backed by @SolanaVentures
  • Space — Space is a leveraged prediction market platform built on Solana, designed to reward users for accurate insights while enabling efficient capital flow through competitive forecasting, combining high-performance blockchain infrastructure with advanced market mechanisms to create a transparent, scalable, and engaging environment for decentralizedprediction and informed decision-making.
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STIHL Ventures
VC Fund · Waiblingen, Baden-Wurttemberg, Germany · 2 investments in Estonia Financial Services startups

Investment Focus: We invest from late seed to series B, with sweet spot series A. We prefer to syndicate with existing or new investors and we can take the lead as necessary.

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Investment focus

  • Industry: Pet, SaaS, Solar
  • Stage:Seed, Series A, Convertible Note
  • Geography: Germany, Denmark, Estonia

Investor stats

  • Total investments: 9
  • Round size: Seed $2.1M–$6.3M; Series A $3.8M–$10M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Spotta — Spotta's smart pest systems help pest control monitor and identify pests. Solutions for hospitality, care homes, agriculture, farming and forestry.
  • Dryad Networks — Overview of Dryad, providing ultra-early fire detection as well as forest growth and health monitoring.
  • Fairown — Fairown is a fintech company helping banks, brands, and retailers offer products as a service. Unlike BNPL solutions, we provide a unique payment platform, which allows environmentally conscious businesses to offer products for monthly subscriptions, and manage product renewal cycles.
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Pnyx Ventures
VC Fund · 2 investments in Estonia Financial Services startups

PNYX Ventures is a digital asset management firm specialising in blockchain capital markets.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Financial Services
  • Stage:Seed, Series A
  • Geography: United States, Canada, Singapore

Investor stats

  • Total investments: 38
  • Round size: Seed $1.2M–$7M; Series A $2.5M–$19M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • t1 (aka t1 protocol) — Undercollateralized credit for DeFi. Powering @useamplifi and @juicedexchange. Backed by @a16z CSX.
  • Webb Protocol — Welcome to Webb, an ecosystem of infrastructures and applications designed to extend privacy to the blockchain space. We are committed to a future where privacy is accessible for all in the multi-chain world.
  • Genesis Shards — Crafting a whole new suite of NFT powered products across multiple blockchains
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Financial Services VC funding in Estonia at a glance

Stats across 128 deals from 235 investors.

235
investors
in Estonia Financial Services startups
128
deals
in Estonia Financial Services startups
$1.3M
median round
in Estonia Financial Services startups
30%
lead investors
lead at least one round
38%
Seed
most common funding stage

Access all 235 VC funds in Estonia Financial Services startups.

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