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Wednesday, June 29, 2022

Estonian FinTech startup shuts down after reaching almost 2M customers

askRobin, a financial services company from Estonia that served in several Latin American countries, is shutting down. CEO of the company says that their biggest win throughout this process was their committed team.

askRobin was founded in 2017 by Rain Sepp, a FinTech entrepreneur with a background in the financial services industry. The company was born out of a need to provide great financial services to customers, especially when it comes to lending. Since Sepp also came from a poor family, he knew the importance of the service that they were providing.

The first product of askRobin was their Financial Education chatbot, which gave small and clever bits of advice to customers. As the chatbot gave this advice in a fun and playful manner, it turned the complex financial world into something that is easier to understand. Although the product got over 200.000 users within a month, the company decided to focus on customer needs and turned its attention to lending money.

Here is what the future holds for the passionate FinTech entrepreneur after shutting the company down

As the company focused its attention on providing better services for its customers, it kept facing many difficulties. Especially due to the Covid pandemic, the company went through a myriad of difficulties and suffered great losses. Finally the decision to stop its operations was made and askRobin is now shutting down after reaching nearly 2M customers.

As for what is next for his career, Rain Sepp, the founder and the CEO of askRobin, has stated:

“After reuniting with the surf waves, ski slopes and extended quality time with my family, I’ll be sure to let you know what’s next. I’d be happy to shift my focus on giving back to the community, helping Startups on their journey.”

Sena Konakci
Sena Konakci
A true free spirit, Sena (she/her) spent a substantial part of her life travelling the world and was working for successful startups in many different fields along with writing for local newspapers and magazines for over two decades. With a knack for detecting promising businesses and years of experience under her belt, Sena has decided to focus her attention on writing about startups. Aside from following the newest developments in the startup scene of the Nordic countries, she loves volunteering and camping in her spare time.

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