If you are interested in setting up or investing in a FinTech, then look no further. Estonia is known as (one of) the most advanced digital democracies in the world and an outstanding place for doing innovative business. Estonia is also known as the land of unicorns. For an estimated population of 1.4 million people, by 2021 there were 215 companies registered in Estonia that can be considered FinTechs and by 2022 there were already 10 unicorns, including Wise, Zego, Bolt and Veriff.
According to the draft Fintech Strategy for 2023+, Estonia aims to become the most transparent place in Europe to establish and grow your Fintech globally.
Our partner Kätlin Krisak, senior associates Olivia Kranich and Liisa Maria Kuuskmaa, counsels Pirkko-Liis Harkmaa and Hetti Lump wrote an article on current FinTech laws and regulations in Estonia for an international publication by ICLG. In the article, the following topics are discussed:
● The Estonian FinTech landscape
● Funding of FinTechs, including IPOs
● FinTech regulation
● Relevant non-financial regulation, including data privacy laws and cyber security laws
● Accessing talent and employment laws
● Technology and intellectual property rights
