Enty, a fintech company founded in Tallinn by Kirill Zheleznov, Jane Shmygleva, and Artem Tolkachev, has raised €700,000 in seed funding. The investment was led by TMT Investments Plc, Trado Capital, and a group of angel investors. This funding will support Enty’s goal of becoming a go-to solution for financial, invoice, and contract management for small and medium-sized enterprises (SMEs) across Europe.
Enty is a subscription-based service that ensures compliance with EU, EEA, and UK regulations. The company has onboarded over 2,500 SMEs and reached a €1 million annual recurring revenue (ARR) in 2023. Now, Enty aims to enhance its platform, streamline back-office operations, and expand its market presence.
“Turbo-charged entrepreneurs don’t want to be dragged down by highly time-consuming but essential back office tasks,” says Kirill Zheleznov, CEO and co-founder. “Enty’s focus from day one on achieving product market fit has led us to identify the top requirements for SMEs: having all their back office operations on a single platform, whether it is invoicing, contract management, or cash flow modelling. Simplicity of use, delivered through an all-in-one platform, is what’s driving Enty’s growth. We are thrilled with the success of this funding round, which validates Enty’s approach and the strength of its vision.”
“Enty has hit a sweet spot for European entrepreneurs, making it one of the most attractive options available for SMEs wanting to save time and boost efficiency,” said Alexander Selegenev, Executive Director of TMT Investments Plc, which led the round.
Enty is a part of the e-Residency marketplace, which helps people start and manage their businesses in Estonia, wherever they are in the world. Enty offers support with company establishment and management with annual/monthly and payroll reporting, a multi-currency bank account in cooperation with trusted partners, invoicing, over 10 corporate management services including obtaining VAT, EORI, other tax-related issues, and licensing. Subscription prices start from €33/month. Besides Estonia, the startup offers similar packages in the Netherlands.
Estonian e-Residency, a special status for entrepreneurs, has been a massive success and evolved into a thriving ecosystem. As of early 2023, more than 100,000 people from 176 countries have been granted an Estonian e-resident card.
Interested in starting your business with e-Residency? Apply here. Ready to invest in Estonia and find the next unicorn? Use our 1:1 e-Consulting service to get started.
