Cino Raises €3.5M to Expand Group Payment App
Tallinn-based fintech startup Cino secured €3.5 million in seed funding in March 2025. Cino offers a real-time group payment solution that allows users to pay together in one transaction, eliminating the need for bill-splitting or reimbursements. The funding will support their European expansion and upcoming UK launch.
Read more
Mifundo Receives €2.5M EIC Grant
In July 2024, Mifundo, an Estonian fintech specializing in AI-powered cross-border lending, received a €2.5 million grant from the European Innovation Council (EIC). The grant will help scale their platform and enhance their international reach.
Read more
Montonio Names Johan Nord as CEO
In August 2024, Estonian fintech company Montonio appointed Johan Nord as its new CEO. Former CEO Markus Lember transitioned to the role of Chief Strategy Officer. Montonio provides comprehensive payment and financing solutions for e-commerce businesses.
Read more
Estonia Receives $50M in Danske Bank Asset Transfer
In January 2025, the U.S. Department of Justice transferred $50 million in forfeited assets to Estonia. The funds are tied to the successful prosecution of Danske Bank, which was involved in processing suspicious transactions through its now-closed Estonian branch.
Read more
Swedbank’s Ex-CEO Sentenced for Estonian AML Failures
In September 2024, former Swedbank CEO Birgitte Bonnesen was sentenced to 15 months in prison by a Swedish appeals court for gross fraud. The case involved her misleading statements about anti-money laundering issues linked to Swedbank’s Estonian operations.
Read more
Top Estonian Fintech Startups to Watch in 2025
In February 2025, Fintech News Baltic highlighted seven Estonian fintech companies as key players to follow in 2025. These companies were recognized for their innovation, investment traction, and impact across the financial sector.
Read more
