57 investors have funded 20 B2C E-Commerce companies head-officed in Tallinn, across 77 rounds (Jun 2001 – Nov 2025). They are ranked by how many Tallinn companies in this market they have actually backed.
"In Tallinn" describes the companies, not the investor: most of the money in any city comes from somewhere else, and the Where the money comes from section below shows exactly where it came from here.
Ranked by companies backed in this market and city, then by round count. "Led" counts rounds recorded with this investor as lead.
| # | Investor | Based in | Stages here | Companies | Rounds | Led | Latest | Portfolio total |
|---|---|---|---|---|---|---|---|---|
| 1 | Startup Wise Guys | Tallinn, Estonia | Seed | 6 | 7 | 4 | Oct 2022 | 374 |
| 2 | Change Ventures | Tallinn, Estonia | Seed | 2 | 3 | 3 | May 2022 | 36 |
| 3 | D1 Capital Partners | New York City, United States | Series DSeries E+ | 1 | 3 | 1 | Jan 2022 | 67 |
| 4 | G Squared | Chicago, United States | Series CSeries E+ | 1 | 3 | 1 | Jan 2022 | 48 |
| 5 | Naya Capital Management UK | London, United Kingdom | Series CSeries DSeries E+ | 1 | 3 | 2 | Aug 2021 | 4 |
| 6 | Sequoia Capital | Menlo Park, United States | Series E+ | 1 | 2 | 2 | Jan 2022 | 1,568 |
| 7 | Hummingbird Ventures | London, United Kingdom | Seed | 1 | 2 | 2 | Dec 2019 | 79 |
| 8 | Karma Ventures | Tallinn, Estonia | Seed | 1 | 2 | 2 | Dec 2019 | 27 |
| 9 | DiDi | Haidian, China | Series CSeries A | 1 | 2 | 1 | May 2018 | 23 |
| 10 | Network.VC | San Francisco, United States | Seed | 1 | 2 | — | Sep 2021 | 10 |
| 11 | Tekne Capital Management | New York City, United States | Series E+ | 1 | 2 | 1 | Jan 2022 | 6 |
| 12 | Y Combinator | Mountain View, United States | Seed | 1 | 1 | 1 | Sep 2021 | 5,648 |
| 13 | Matrix | San Francisco, United States | Seed | 1 | 1 | — | Nov 2025 | 320 |
| 14 | Alchemist Accelerator | San Francisco, United States | Seed | 1 | 1 | 1 | May 2019 | 517 |
| 15 | IFC | Washington, DC, United States | Series D | 1 | 1 | 1 | Mar 2021 | 359 |
| 16 | Startupbootcamp | London, United Kingdom | Seed | 1 | 1 | — | Jul 2016 | 500 |
| 17 | Fidelity Investments | Boston, United States | Series E+ | 1 | 1 | 1 | Jan 2022 | 358 |
| 18 | Creandum | Stockholm, Sweden | Series C | 1 | 1 | 1 | Jul 2019 | 157 |
| 19 | Mountain View, United States | Seed | 1 | 1 | — | Jun 2025 | 216 | |
| 20 | Icebreaker | Helsinki, Finland | Seed | 1 | 1 | — | May 2022 | 99 |
| 21 | Starta | New York City, United States | Seed | 1 | 1 | 1 | Sep 2021 | 104 |
| 22 | TMT Investments | Saint Helier, Jersey | Seed | 1 | 1 | 1 | Dec 2014 | 78 |
| 23 | Mercedes-Benz | Stuttgart, Germany | Series C | 1 | 1 | 1 | May 2018 | 48 |
| 24 | 3TS Capital Partners | Helsinki, Finland | PE | 1 | 1 | — | Jun 2001 | 43 |
| 25 | Superangel | Tallinn, Estonia | Series C | 1 | 1 | 1 | Jul 2019 | 39 |
| 26 | Magnus Capital | Amsterdam, Netherlands | Seed | 1 | 1 | — | Nov 2025 | 44 |
| 27 | Korelya Capital | Paris, France | Series C | 1 | 1 | — | May 2018 | 31 |
| 28 | NordicNinja | London, United Kingdom | Series C | 1 | 1 | 1 | Jul 2019 | 30 |
| 29 | Kyros | Ho Chi Minh City, Vietnam | Seed | 1 | 1 | — | Nov 2025 | 29 |
| 30 | Whale Rock Capital Management | Boston, United States | Series E+ | 1 | 1 | — | Jan 2022 | 26 |
| 31 | DEPO Ventures | Prague, Czech Republic | Seed | 1 | 1 | — | Oct 2022 | 23 |
| 32 | United Angels VC | Tallinn, Estonia | Series C | 1 | 1 | — | May 2018 | 19 |
| 33 | Enern | Prague, Czech Republic | Seed | 1 | 1 | 1 | Dec 2019 | 18 |
| 34 | FlyCap | Riga, Latvia | Seed | 1 | 1 | 1 | Apr 2023 | 22 |
| 35 | Titans | Ho Chi Minh City, Vietnam | Seed | 1 | 1 | — | Nov 2025 | 20 |
| 36 | Estonian Business Angels Network | Tallinn, Estonia | Seed | 1 | 1 | 1 | Apr 2021 | 12 |
| 37 | Invenfin | Stellenbosch, South Africa | Series C | 1 | 1 | — | Jul 2019 | 12 |
| 38 | Black Dragon Capital | Los Angeles, United States | Seed | 1 | 1 | 1 | Nov 2025 | 9 |
| 39 | Owl Rock Capital | New York City, United States | Series E+ | 1 | 1 | — | Jan 2022 | 9 |
| 40 | Proxy Ventures | London, United Kingdom | Seed | 1 | 1 | — | Mar 2015 | 8 |
| 41 | Rubylight | Riga, Latvia | Seed | 1 | 1 | 1 | Dec 2014 | 6 |
| 42 | Frontier Nordic | Singapore, Singapore | Seed | 1 | 1 | 1 | Mar 2014 | 6 |
| 43 | Mission Gate | Saint Kitts And Nevis, Saint Kitts And Nevis | Seed | 1 | 1 | — | Sep 2021 | 5 |
| 44 | Chain Ridge Capital | Seed | 1 | 1 | — | Nov 2025 | 4 | |
| 45 | Activat | Astana, Kazakhstan | Seed | 1 | 1 | 1 | Aug 2021 | 3 |
| 46 | Nexussquared | Zurich, Switzerland | Seed | 1 | 1 | — | Jul 2016 | 3 |
| 47 | Zenith | Tallinn, Estonia | Seed | 1 | 1 | 1 | Apr 2021 | 3 |
| 48 | Highgoal Capital Management | Tallinn, Estonia | Seed | 1 | 1 | 1 | Apr 2023 | 3 |
| 49 | Prometheus Laboratories | San Diego, United States | Seed | 1 | 1 | — | Nov 2025 | 3 |
| 50 | Adcash | Tallinn, Estonia | Seed | 1 | 1 | 1 | Dec 2014 | 3 |
| 51 | Liqvest | New York City, United States | Seed | 1 | 1 | — | Sep 2021 | 3 |
| 52 | Ghisallo | Austin, United States | Series E+ | 1 | 1 | — | Jan 2022 | 2 |
| 53 | Venture Crew | Limassol, Cyprus | Seed | 1 | 1 | — | Sep 2021 | 1 |
| 54 | Research Company | Series E+ | 1 | 1 | — | Jan 2022 | 1 | |
| 55 | Barolo Investment Partners | Seed | 1 | 1 | 1 | Apr 2023 | 1 | |
| 56 | Foodout | Vilnius, Lithuania | Series A | 1 | 1 | — | May 2016 | 1 |
| 57 | Trustdao network | Seed | 1 | 1 | — | Nov 2025 | 1 |
Head office of the investors on this page.
Rounds by stage — where in a company's life this money arrives.
Total disclosed size of each round, not one investor's share.
How active this market has been.
B2C E-Commerce companies head-officed in Tallinn that took money from these investors.
| Company | Backers | Rounds | Disclosed | Latest round |
|---|---|---|---|---|
| Bolt bolt.eu |
23 | 32 | $11.4B | Series E+ Jan 2022 |
| WorkQuest workquest.co |
8 | 8 | $9.3M | Seed Nov 2025 |
| YouTravel.me youtravel.me |
6 | 7 | $5M | Seed Sep 2021 |
| MeetFrank meetfrank.com |
4 | 7 | $10.1M | Seed Dec 2019 |
| Elmo Remote elmoremote.com |
3 | 3 | $8.6M | Seed Apr 2023 |
| VideoCV videocv.io |
3 | 3 | $1.5M | Seed Apr 2021 |
| Yummy yummy.eu |
2 | 3 | $8.5M | Seed Oct 2022 |
| ProofofYou proofofyou.com |
2 | 2 | — | Seed Jul 2016 |
| Werk werk.eu |
1 | 1 | $1.3M | Seed May 2022 |
| Faralong.com faralong.com |
1 | 1 | $500K | Seed Mar 2015 |
| Membo membo.ee |
1 | 1 | $125K | Seed Sep 2021 |
| Wild wild.codes |
1 | 1 | $100K | Seed Jun 2025 |
| eXpact expact.xyz |
1 | 1 | $34.5K | Seed Oct 2018 |
| Fairmus fairmus.com |
1 | 1 | — | Seed Jun 2020 |
| Mychef.ee mychef.ee |
1 | 1 | — | Series A May 2016 |
| Ringy ringy.shop |
1 | 1 | — | Seed Jun 2021 |
| CV Online cvonline.com |
1 | 1 | — | PE Jun 2001 |
| Hertwill hertwill.com |
1 | 1 | — | Seed May 2022 |
| PepperTix peppertix.com |
1 | 1 | — | Seed Aug 2014 |
| Wwwash wwwash.com |
1 | 1 | — | Seed May 2019 |
| Date | Investor | Company | Stage | Round size |
|---|---|---|---|---|
| Nov 2025 | Prometheus Laboratories | WorkQuest | Seed | $1.2M |
| Nov 2025 | Black Dragon CapitalLED | WorkQuest | Seed | $1.2M |
| Nov 2025 | Magnus Capital | WorkQuest | Seed | $1.2M |
| Nov 2025 | Matrix | WorkQuest | Seed | $1.2M |
| Nov 2025 | Kyros | WorkQuest | Seed | $1.2M |
| Nov 2025 | Trustdao network | WorkQuest | Seed | $1.2M |
| Nov 2025 | Chain Ridge Capital | WorkQuest | Seed | $1.2M |
| Nov 2025 | Titans | WorkQuest | Seed | $1.2M |
| Jun 2025 | Wild | Seed | $100K | |
| Apr 2023 | Highgoal Capital ManagementLED | Elmo Remote | Seed | $2.9M |
| Apr 2023 | FlyCapLED | Elmo Remote | Seed | $2.9M |
| Apr 2023 | Barolo Investment PartnersLED | Elmo Remote | Seed | $2.9M |
| Oct 2022 | Startup Wise Guys | Yummy | Seed | $3.4M |
| Oct 2022 | DEPO Ventures | Yummy | Seed | $3.4M |
| May 2022 | Change VenturesLED | Werk | Seed | $1.3M |
| May 2022 | Icebreaker | Hertwill | Seed | — |
| Jan 2022 | Ghisallo | Bolt | Series E+ | $711.4M |
| Jan 2022 | Whale Rock Capital Management | Bolt | Series E+ | $711.4M |
| Jan 2022 | Fidelity InvestmentsLED | Bolt | Series E+ | $711.4M |
| Jan 2022 | Sequoia CapitalLED | Bolt | Series E+ | $711.4M |
B2C E-Commerce investors in other cities
Other markets in Tallinn