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Saturday, September 23, 2023

New Unicorn minted in Estonia with 100 million Euros funding

Veriff was raising 100 million euros from Tiger, Estonia minted new Unicorn!

Under the joint management of Tiger Global and Alkeon, the round values ​​the company at $1.5 billion.

Estonian authentication startup Veriff has raised a Series C worth $100 million, making it the Baltic nation’s sixth unicorn. The tour was jointly led by Tiger Global and Alkeon, with contributions from existing investors IVP and Accel. The Round values ​​the company at $1.5 billion.

Despite having a population of just 1.3 million, Estonia has given birth to five more unicorns – Skype, Wise (or formerly TransferWise), Pipedrive, Bolt and Playtech. Only Bolt has not yet been released to the public, purchased, or moved its headquarters outside the country. In many cases, graduates of these previous successes have become the drivers of the ecosystem, starting new companies or becoming angel investors in the flamboyant ideas of others.

Veriff says the company will use what’s in its wallet for R&D and recruiting. The company currently has 360 employees from 46 different countries.

CEO and founder Kaarel Kotkas stated that he will spend more time in the US in the future: “Being in the US allows me to bring the team together there while maintaining the same culture and giving me the opportunity to be there personally for our larger clients.”

“The biggest challenge is to continue to scale with the same stability without losing the fast delivery principle and becoming a company big enough to allow us to slow down.”

Click here to read more funding news.

Jan Ameri
Jan Ameri
Entrepreneur-by-heart – and by actions since 1998. Being an expert in spotting new opportunities and creating new concepts, Jan has been a partner or co-founder in seven different companies in various industries. In the early 2000’s he was pioneering some of the very first WAP, SMS, and interactive TV based wireless games and fantasy sports games in the Nordic countries. Jan loves to watch Shark Tank and The Profit in his free time. And he is an FC Barcelona fan.

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