€97.8m invested in Estonian and Estonian-founded start-ups in 2015 (1)
Investors supported Estonian or Estonian-founded start-ups with €97.8m last year. Of this money, about half went into London-based financial service provider Transferwise.
According to start-up consulting firm Contriber, 30 companies received investment amounting to €97.8m in 2015. Just five years earlier, that sum had been a mere €18.5m, daily Eesti Päevaleht wrote on Tuesday.
Start-ups are financed in rounds of investment. The series A round is the first significant capital injection by a venture capital firm. Of the total amount invested mentioned above, €21.37m went into series A round financing.
Series B round contributions by investors amounted to €14.68m, and series C round investment, typically contributed to the capital of companies already working with a product and developing their business, amounted to €53.21m, of which €48m went to Transferwise.