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Telexchange, a company owned by an Estonian e-resident, tops Äripäev’s Telecom top

A company with only 10 employees, Telexchange System, tops business daily Äripäev's list of Estonia's most successful and rapidly growing telecom companies.

“The biggest change in the telecom market is that currently people make less and less phone calls and long distance calls and voice is transmitted via data connections – we use Facetime, Whatsapp, Skype, etc,” the CEO of Telexchange System, Oleg Savanovich told Äripäev. “Still, it is not always possible to use the free services – and this is where we are looking for our place on the market. We are happy to be an Estonian company and we hope that in 5 years we can offer our services to clients all across the globe.”

According to Savanovich running a company in Estonia is completely bureacraucy-free. He adds that while dealing with the authorities and banks in his native Russia, he often finds himself thinking how easy it would be to do the same in Estonia instead. Savanovich says that in Estonia he can just focus on his business without any stress. As the biggest problem in Estonia Savanovich sees that opening a bank account as an e-resident and a foreign citizen may be difficult in some cases. Fortunately, one of the smaller banks was able to help his company.

Telexchange’s turnover grew by 2.4 times in 2017, compared to 2016 while profit grew from 8,000 € to almost 190,000 €.

Most of Telexchange’s clients are based in Russia, Uzbekistan, Laos and Ukraine. The company has more than 100 contracts with telecom companies, among them with giants such as Orange.

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