# Tiit Paananen

> Tiit Paananen is a seed investor at Veriff backing Retail and Software. See 1 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Veriff](https://shizune.co/investors/profile/veriff)
- Total investments: 1
- Last investment: Jan 2014
- Lead investor: 0%
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/pub/tiit-paananen/1/21b/498

Tiit Paananen is a seed investor at Veriff focused on Retail and Software. Tiit joined Skype 2005 as a test director after 10 years leading companies in Software Development and holding Engineering Operations roles in Estonia and the Baltics.At Skype he was responsible for Software Quality Assurance and testing for 7 years. In his last 2 years, he served as General Manager of Skype Estonia, coordinating EngineeringL&D, onboarding and community mgmt globally for Skype.Tiit is active member of vibrant ICT community in Estonia and member of the board in Estonian IT and Telecommunications Association, in which he focuses on education and workforce, and heads the IT academy steering committee. IT academy is a joint program between Tallinn Technical University and Tartu University ICT faculties to up level ICT education quality in Estonia.Tiit is also a skydiver, aircraft pilot and beer enthusiast resurrecting microbrewery industry in Estonia.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Retail | 1 | 100% |
| Software | 1 | 100% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Cloutex | Cloutex is a data logistics company that allows businesses to synchronize, move and manage their data quickly and easily. Their Google Chrome extension - Cloutex for Chrome enables users to move LinkedIn data available on public profiles into a Customer Relationship Management (CRM) platform. | $600K | Seed | Jan 16, 2014 |  |

1 of 1 investments shown.

## Co-investors
- [SmartCap](https://shizune.co/investors/profile/as-smartcap) — VC Fund, 1 deal together
- [EstBAN](https://shizune.co/investors/profile/estban) — VC Fund, 1 deal together
- [Tera Ventures](https://shizune.co/investors/profile/tera-ventures) — VC Fund, 1 deal together
- [United Partners](https://shizune.co/investors/profile/united-partners) — VC Fund, 1 deal together

## About Veriff

VC Fund · Tallinn, Estonia

Veriff is an online identity verification company that protects businesses and their customers from online identity fraud. It is a highly automated identity verification platform connecting companies with honest customers.Veriff makes it easy to connect with people to trust. With the combined forces of machine learning and eagle-eyed specialists,Veriff is always two steps ahead of digital fraud. AI speeds up sessions with immediate feedback, while manual checks by their verification gurus nip risks in the bud.Veriff was founded in 2015 and is headquartered in Tallinn, Estonia.

5 contacts available at Veriff.

| Name | Title | Profile |
| --- | --- | --- |
| Tiit Paananen | VP, Engineering | https://shizune.co/investors/profile/tiit-paananen |
| Carly Brantz | Chief Marketing Officer | https://shizune.co/investors/profile/carly-brantz |
| Hubert Behaghel | VP of Engineering | https://shizune.co/investors/profile/hubert-behaghel |
| Jaanus Kivistik | CTO | https://shizune.co/investors/profile/jaanus-kivistik |
| James Lancaster | Senior Account Executive | https://shizune.co/investors/profile/james-lancaster-e443 |

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## Featured in investor lists
- [Marketplace Angel Investors in Estonia](https://shizune.co/investors/marketplace-angel-investors-estonia)
- [Retail Investors in Estonia](https://shizune.co/investors/retail-investors-estonia)

## FAQ

### What does Tiit Paananen invest in?

Tiit Paananen invests primarily in Retail and Software startups, most often at Seed stage. Most of the 1 investments tracked by Shizune back companies in Estonia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Tiit Paananen last invest?

The most recent investment recorded for Tiit Paananen closed in Jan 2014. Shizune tracks 1 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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