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The Fintech Times: Estonia’s rocketing FinTechs to keep an eye on

From digital banking to blockchain solutions, Estonia's FinTech ecosystem is soaring to new heights, captivating the attention of investors and industry experts worldwide. The Fintech Times has listed 9 rocketing FinTechs from Estonia to keep an eye on as they are poised to reshape and transform the whole industry.

Estonia’s Tech-Savvy DNA

According to The FinTech Times, Estonia’s success in the FinTech space can be attributed to its tech-savvy DNA. The country has a long-standing reputation for being at the forefront of technological innovation. With a digitally advanced infrastructure, including nationwide internet access and electronic ID systems, Estonia provides a fertile ground for FinTech startups to thrive. The government’s commitment to digital transformation and its supportive regulatory environment further fuel the growth of the sector.

Unicorns and leaders

Estonia proudly boasts a significant number of FinTech unicorns and industry leaders. Wise, a global money transfer platform, is a classic success story here.

In the early 2010s, Kristo Käärmann was working in London while receiving his salary in euros. On the other hand, Taavet Hinrikus, the first employee of Skype, was living in London but had a mortgage to pay in euros back in Estonia. Sharing their worries about high service fees for cross-border money transfers led friends to develop a unique peer-to-peer approach to currency exchange. Founded in 2011, Wise (formerly TransferWise) changes the way people transfer money internationally. With a valuation exceeding 1 billion dollars in 2015, Wise has become a household name in the FinTech world.

Wise founders Taavet Hinrikus ja Kristo Käärmann

Guardtime, a pioneering blockchain company, has also made waves globally. It provides secure solutions for industries such as healthcare, insurance, and supply chain management. Guardtime’s innovative use of blockchain technology has gained recognition and trust from prominent organisations around the world.

 Ain Aaviksoo, Chief Medical Officer at Guardtime

Expanding Estonian excellence

Estonian FinTechs are not only making their mark domestically but are also expanding their reach internationally. Glia, an Estonia-based and New York City headquartered company, is modernising customer service in the finance sector. Its digital-first mentality and customer-centric approach have garnered attention from financial institutions worldwide, further enhancing Estonia’s reputation as an innovation hub.

 Carlos Paniagua, founder and CTO of Glia

Tuum, the next-generation core banking platform, built with an API-first approach, allows banks, financial services companies, and any other business to seamlessly integrate modular banking technology into existing infrastructure.

 Tuum founders Raivo Uibo and Vilve Vene

Monese, another Estonian FinTech success story, is extending digital banking possibilities. It enables individuals to access financial services without credit checks, facilitating online shopping, salary payments, and seamless financial transactions. Monese’s user-friendly approach has earned it a loyal customer base globally.

 Norris Koppel, founder and CEO of Monese

Revolutionising industries

Estonian FinTechs are making waves by transforming traditional industries. Zego, a company focusing on insurance technology, is leading a digital revolution in the insurance sector. By leveraging technology, Zego offers flexible insurance policies tailored to the needs of gig economy workers and on-demand platforms.

Sten Saar, CEO and co-founder of Zego

Fairown has disrupted the tech industry by enabling giants like Apple to sell products as services. This innovative business model allows customers to access cutting-edge technology without the burden of ownership, shifting the paradigm of consumption.

 Hendrik Roosna, founder of Fairown

Salv, an Estonian FinTech startup, fights against financial crimes using advanced analytics and machine learning algorithms. By providing solutions that detect and prevent fraudulent activities, Salv contributes to a safer financial ecosystem.

Taavi Tamkivi _ Salv by Jake Farra

Salv founder Taavi Tamkivi

Depowise, with its AI-powered solutions, has automated oversight, transaction monitoring, and digitalised safekeeping for depositaries, fund administrators, and management companies. Their technology, used in servicing assets worth 750+ billion euros, streamlines processes, improves efficiency and reduces operational risks by being.

 Depowise founders Artur Reiter and Sven Peekmann

Estonia’s rocketing FinTech ecosystem is a testament to the country’s tech-savvy culture, supportive regulatory environment, and commitment to digital innovation. With notable unicorns like Wise and industry leaders like Guardtime, Estonia has firmly established itself as a global centre of excellence for FinTech.

Curious to learn more about investment opportunities in Estonian FinTechs? Just send Invest Estonia a request for e-Consulting and get started!


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