\The Baltic startups and scaleups to watch in 2021

\The Baltic startups and scaleups to watch in 2021

The Baltics is one of Europe's most exciting startup regions. So who should be on your watchlist?

It's a great time to be a Baltic startup.

So far in 2021, Lithuania has seen €277m in investment (compared to just €17.9m in 2020 and €151m in 2019). In 2020 Estonian startups received €115m in capital.

The Baltics have birthed Bolt, the Estonian ride-hailing app, and Vinted, Lithuania's increasingly popular secondhand clothes marketplace. Other, but exited unicorns include Skype and Wise (previously TransferWise.)

But with only two unicorns, the region has a lot of room for growth — and needs it if it's going to compete with more established markets.

Fintechs like consumer lender Sun Finance, which recently placed 2nd in the FT1000 with a compound growth rate of 752%, are particularly promising. And thanks to startup-friendly regulations, Lithuania is Europe's second-largest regulated fintech hub.

While many Baltic startups have also moved out of the small and underpopulated regions to capitalise on more established markets, as usual, this list only includes startups headquartered in Estonia, Latvia and Lithuania.

(P.S The data is from European Startups with valuation estimates from Dealroom. If there is anyone missing from this list, or anything is wrong, please let us know by email at [email protected]).

Key

Year founded

Amount raised

Last funding round

Valuation

Employees

Mano.bank's logo

Mano.bank

Neobank

fintech / payments

mano.bank

Vilnius, Lithuania

2019

N/Am

N/A

N/A

10-50

Mindletic's logo

Mindletic

A safe place where you can train your mind

health / health platform

mindletic.com

Vilnius, Lithuania

2020

N/Am

BOOTSTRAPPED

N/A

10-50

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Profitus's logo

Profitus

Crowdfunding and investment platform for real estate projects

fintech / real estate

profitus.lt

Vilnius, Lithuania

2017

N/Am

BOOTSTRAPPED

N/A

10-50

Sun Finance's logo

Sun Finance

Consumer lending company

fintech / mortgages & lending

sunfinance.group

Riga, Latvia

2012

N/Am

BOOTSTRAPPED

N/A

500-1000

Veritacell's logo

Veritacell

Methodology for enhanced skin renewal

health / biotech

veritacell.com

Riga, Latvia

2018

N/Am

N/A

N/A

1-10

Vialet's logo

Vialet

Digital finance management service and contactless VIALET Mastercard

fintech / mobile app

vialet.eu

Riga, Latvia

2017

N/Am

BOOTSTRAPPED

N/A

10-50

Viezo's logo

Viezo

Vibration energy harvesting

energy / manufacturing

viezo.co

Vilnius, Lithuania

2018

N/Am

BOOTSTRAPPED

N/A

10-50

Yoptimise's logo

Yoptimise

Personalised data-driven insights

health / wellness beauty

yoptimise.com

Tallinn, Estonia

2021

N/Am

N/A

N/A

N/a

Inion's logo

Inion

Monitoring and control solutions for solar industry

clean energy / enterprise software

inionsoftware.com

Vilnius, Lithuania

2019

€0m

SEED

€2-3m

1-10

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Sprayprinter's logo

Sprayprinter

Developed smart mural printing robot for spray paint and digital art

media / robotics

sprayprinter.com

Tartu, Estonia

2015

€0m

EARLY VC

N/A

10-50

Longenesis's logo

Longenesis

Unlocking the power of life data without borders

biotech / data

longenesis.com

Riga, Latvia

2019

€0m

GRANT

N/A

10-50

AgroPlatforma's logo

AgroPlatforma

B2B marketplace for farmers and grain buyers to communicate, deal and fix grain prices

agritech / marketplace & ecommerce

agroplatforma.lv

Riga, Latvia

2017

€0m

SEED

€120-180k

1-10

FitRadar's logo

FitRadar

App to find personal trainers

sports / mobile app

fitradar.me

Sēbruciems, Latvia

2018

€0m

SEED

€140-210k

1-10

H-Finance's logo

H-Finance

Infrastructure and compliance that enables other financial institutions and fintechs to work with digital assets

fintech / cryptocurrency

hodlfinance.io

Vilnius, Lithuania

2018

€0m

SEED

€120-180k

10-50

Vigo's logo

Vigo

Digital rehabilitation tool for stroke recovery

health / biotech

vigo.health

Riga, Latvia

2018

€0m

N/A

N/A

1-10

CastPrint's logo

CastPrint

One-stop-shop solution fully integrated in hospital workflow

health / medical devices

castprint.co

Riga, Latvia

2016

€0m

SEED

€80-120k

1-10

Cenos's logo

Cenos

Democratising engineering simulation for production plants and SMBs

enterprise software / saas

cenos-platform.com

Riga, Latvia

2017

€0m

SEED

€1-2m

10-50

Sellfy's logo

Sellfy

Ecommerce platform for digilat products

marketplace & ecommerce / media

sellfy.com

Riga, Latvia

2014

€0m

SEED

10-50

EstateGuru's logo

EstateGuru

An international marketplace for secured property loans

fintech / real estate

estateguru.co

Tallinn, Estonia

2013

€2m

SEED

€49m

50-100

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