Funded Financial Services Startups in Estonia

Veriff’s disclosed $100M (Series C, 2022-01-26) is the standout outlier; the next-largest disclosed amounts are materially lower, including Tuum’s $27M (Series B, 2024-02-06) and Inbank AS’s $11M (Series Unknown, 2024-08-23). The only sub-$100K disclosed entries are also rare, such as Skyrex at $20K (Pre-Seed, 2024-06-01) and Scramble at $70K (Pre-Seed, 2022-10-01).

Yes: early 2022 concentrates multiple rounds, including Veriff $100M (2022-01-26), Modularbank $4M (2020-12-09 is outside, but within the shown window 2022-02-08 Tradelize $100K; 2022-02-14 Minterest $6M; 2022-03-02 StakeWise $100K). In 2024, there’s another run from March through August with Cino $4M (2025-03-04 is later, but 2024-04-02 AutoLayer $3M; 2024-06-01 Skyrex $20K; 2024-08-23 Inbank AS $11M) alongside Tuum $27M on 2024-02-06.

Tallinn/Tallin dominates the table: 31 of 33 rows cite Tallinn or Tallin (e.g., Veriff in Tallinn on 2022-01-26; Tuum in Tallinn on 2024-02-06; CoinMetro in Tallinn on 2022-11-07). Only two rows fall outside Tallinn proper: Skyrex is listed in Harju, Hiiumaa (2024-06-01), while other non-Tallinn city spellings are not present in the remaining entries.

Stage naming is mixed: several rounds are labeled ‘Series Unknown’ or otherwise not filled, including Fintellect (Series Unknown, $100K on 2025-05-15), Hoovi (Series Unknown, $9M on 2025-03-11), Inbank AS (Series Unknown, $11M on 2024-08-23), and Capitual (Series Unknown, $16M on 2023-02-06). There is also one explicitly ‘undisclosed’ amount (Lyfery, $undisclosed on 2024-03-05), and at least two rows with blank stage classifications (Lyfery aside, Modularbank on 2020-12-09 and Sparq on 2020-09-25 list stage fields as empty).

Higher disclosed amounts concentrate in named later stages: Veriff’s $100M is a Series C (2022-01-26) and Tuum’s $27M is a Series B (2024-02-06). Large disclosed seed/earlier rounds also appear (e.g., Inbank AS $11M with ‘Series Unknown’ on 2024-08-23 and Fairown $6M Seed on 2024-09-10), but the two largest numbers in the dataset both use explicit later-stage labels (Series C and Series B).

The most recent entries are in 2025, including Fintellect $100K on 2025-05-15 and Esgrid $1M on 2025-04-16, followed by Hoovi $9M on 2025-03-11. Compared with the 2020–2021 edge (e.g., EvoEstate $100K on 2020-07-28; Sparq $400K on 2020-09-25; Raison $900K on 2021-12-17), 2025’s rounds in this slice are present but not at the same disclosed scale as Veriff’s $100M or Tuum’s $27M.