# Veljo Otsason

> Veljo Otsason is a seed investor at Fortumo backing Identity Management and Information Technology. See 8 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Fortumo](https://shizune.co/investors/profile/fortumo)
- Total investments: 8
- Last investment: Nov 2021
- Lead investor: 0%
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/in/veljootsason
- X (Twitter): https://twitter.com/veljo
- Website: https://x.com/veljo

Veljo Otsason is a seed investor at Fortumo focused on Identity Management and Information Technology. Veljo Otsason is Estonian entrepreneur and investor. In 2007 he co-founded mobile payments company Fortumo and served as its CTO. Since 2013 he has been active angel investor and early backer of Bolt (formerly Taxify), Monese, Veriff, Pipedrive & 30+ others. In 2018 he co-founded Superangel, early-stage seed fund and company builder.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $540k–$1.5M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Identity Management | 2 | 25% |
| Information Technology | 2 | 25% |
| Film | 1 | 13% |
| SaaS | 1 | 13% |
| EdTech | 1 | 13% |

28 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 4 | 50% |
| Angel | 1 | 13% |
| Pre-Seed | 1 | 13% |
| Series A | 1 | 13% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Estonia | 3 | 38% |
| United Kingdom | 2 | 25% |
| United States | 1 | 13% |
| The Netherlands | 1 | 13% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Mentornaut | Mentornaut is a new online tutoring platform is aiming to increase inclusion in personalized education and counts Super angel, United Angels VC, and a list of EdTech advocates like Bolt co-founder Martin Villig, and Clanbeat co-founder Kadri Tuisk among its investors. | $232.3K | Angel | Nov 03, 2021 |  |
| ROCSYS | ROCSYS develops solutions to fully automate professional charging sites. With its smart solutions, EV infrastructure operators can increase their asset utilization. This allows fleet operators to run business critical operations with EVs and additionally prepare for the self-parking and self-driving era. ROCSYS’ solutions are based on proprietarypatented soft-robotics technologies, complemented with a suite of remote management and support tools, and an API integration platform, enabling a complete solution to serve growing industry needs. | $6.4M | Series A | May 11, 2021 |  |
| Bolt | Bolt is a transportation platform providing ride-hailing, micromobility, and food delivery services. It is one of the fastest-growing startups in the world with over 75M happy customers in 45+ countries, from Europe to Latam to Africa. It is building the future of logistics – one platform that connects with cars, motorcycles, scooter sharing, orfood delivery from restaurants.It believes in a future with less car ownership and flexible urban mobility. By bringing reliable on-demand transport to the masses, it helps cities evolve towards decreased traffic congestion and pollution.Bolt was founded in 2013 and is headquartered in Tallinn, Estonia. | $1.5M | Seed | Dec 18, 2014 |  |
| Digital Sputnik | Digital Sputnik designs, manufactures, and distributes LED lights and other lighting equipment. The company manufactures lighting tools for filmmakers for movie productions. The lighting systems could be paired up with software to provide lighting and animation via remote control. The products include light module system that can be powered byV-mount batteries or DC. | $540K | Seed | Oct 15, 2014 |  |
| Monese | Monese is a digital banking alternative that provides a mobile-only, multi-currency account fully-featured and fully localized banking experience (both its apps and its customer service. |  | Seed | Jun 01, 2014 |  |
| SignWise Services | SignWise Corporation Limited was founded in 2014 and is one of the world leaders in eSignature and authentication technology.SignWise helps to digitally manage document-based transactions with advanced electronic signing, strong user authentication, electronic signature validation, document delivery, document creation and more; SignWise is fullyscalable as either an on-premises solution or as a SaaS hosted in the cloud. It enables organizations and consumers to manage the entire lifecycle of a digital document, to automate and speed up business processes both, in home country as well as across borders.SignWise’s competitive edge lies in the cross-use of various countries’ e-identities and qualified certificates for authentication and electronic signing. The service can be used with state-issued electronic identities from Switzerland, Finland, Estonia, Latvia, Lithuania, Portugal, Georgia, Armenia, Belgium, Austria, Iceland, Oman, Luxembourg, Sweden, Denmark, Spain, Azerbaijan and others. |  | Seed | Oct 24, 2013 |  |
| Digital Sputnik | Digital Sputnik designs, manufactures, and distributes LED lights and other lighting equipment. The company manufactures lighting tools for filmmakers for movie productions. The lighting systems could be paired up with software to provide lighting and animation via remote control. The products include light module system that can be powered byV-mount batteries or DC. |  | Seed |  |  |
| Veriff | 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. |  | Pre-Seed |  |  |

8 of 8 investments shown.

## Co-investors
- [EstBAN](https://shizune.co/investors/profile/estban) — VC Fund, 1 deal together
- [FORWARD.one](https://shizune.co/investors/profile/forward-one) — VC Fund, 1 deal together
- [RubyLight](https://shizune.co/investors/profile/rubylight) — VC Fund, 1 deal together
- [Spring Capital](https://shizune.co/investors/profile/spring-capital-8ce8) — VC Fund, 1 deal together
- [Tera Ventures](https://shizune.co/investors/profile/tera-ventures) — VC Fund, 1 deal together
- [TMT Investments](https://shizune.co/investors/profile/tmt-investments) — VC Fund, 1 deal together

## About Fortumo

VC Fund · Tartu, Estonia

Fortumo is a digital enabling platform for app stores and digital service providers for user, acquisition, monetization and retention. The company connects service providers with more than 350 mobile operators across Asia, Europe, Latin America, the Middle East and Africa. Service providers use Fortumo’s platform to manage the end-to-end customerlifecycle of mobile users on these networks through the company’s bundling, carrier billing and messaging solutions.Fortumo’s platform is used by thousands of leading digital merchants including Google, Spotify and Electronic Arts. Founded in 2007, Fortumo has offices in San Francisco, Beijing, Delhi, Singapore, Estonia and Hanoi. For more information, please visit https://fortumo.com.

5 contacts available at Fortumo.

| Name | Title | Profile |
| --- | --- | --- |
| Martin Koppel | Co-Founder & CEO | https://shizune.co/investors/profile/martin-koppel |
| Andrei Dementjev | COO | https://shizune.co/investors/profile/andrei-dementjev |
| Mattias Liivak | Head of Marketing & PR | https://shizune.co/investors/profile/mattias-liivak |
| Rain Rannu | Founder | https://shizune.co/investors/profile/rain-rannu |
| Rain Rannu | Founder | https://shizune.co/investors/profile/rain-rannu-a5c2 |

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## FAQ

### What does Veljo Otsason invest in?

Veljo Otsason invests primarily in Identity Management, Information Technology and Film startups, most often at Seed and Angel stage. Most of the 8 investments tracked by Shizune back companies in Estonia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Veljo Otsason's check size?

Veljo Otsason typically joins rounds of $540k–$1.5M at Seed. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Veljo Otsason participates in.

### When did Veljo Otsason last invest?

The most recent investment recorded for Veljo Otsason closed in Nov 2021. Shizune tracks 8 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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