Investing in Exceptional Teams in the Baltics & Scandinavia

Where and how we invest

Tech Startups 🚀

With our Seed Fund we invest in scalable technology-driven startups. We focus on startups from the Nordics and the CEE region that have already gained initial client and market traction.

Our investments range from €75-200K in the seed stage, usually as part of a larger round that gives 18+ months of runway.

We run a clear process and are often a validating investor that commits early to the round and can create fundraising momentum by making introductions to potential co-investors.

As active investors, we often serve as supervisory board members or advisors to the team.

Micro Private Equity 🏭

With the Growth Fund we are buying minority shareholdings in high growth SMEs in Estonia. We invest in companies that have an ambition to take their firms to the next level.

Our strategy is to acquire a minority shareholding in exchange for EUR 300K-700K investment.

With the investment, companies can either realize a market, an M&A opportunity, or provide a partial exit possibility to the shareholders. When entrepreneurs seek to gain a bank loan or public grant, our investment can also be an equity component of such ventures.

In addition to investing in your company, we also help in strategy making and achieving operational excellence.

Synergy with founders

Most importantly, we invest in smart people. As we stay in companies for 5-7, or even more years, there needs to be a good mutual fit.

We are experienced managers with a background in operations, marketing, real estate and finance. Our role in your enterprise will be that of a partner, a mentor, and a fan.

We are very excited to work with you.

Contact

YOU CAN E-MAIL US AT

pitch@springcapital.ee

OR GIVE US A CALL AT

N/A

We are located in Tallinn at:

Spring Hub: Pärnu mnt 148, Tallinn, Estonia, 11317

  • Henri is the founding partner of Spring Capital Seed Fund and Spring Capital Growth Fund. With a 15-year career in telecommunications spanning marketing and operations, he is now curating the existing portfolio of our equity investments.

    LinkedIn

    Henri Treude

    Founding Partner, Member of the Investment Committee

  • Tauri has 15 years of experience working in legal and 7 years of experience in venture capital and investment management. He is running the funds everyday management, with also being responsible for conducting the legal and compliance activities and heading all the deal documentation preparation. Tauri is also mentoring our portfolio companies with regards to legal documentation and Estonian law.

    LinkedIn

    Tauri Hütt

    Managing Partner and Compliance Officer

  • Theodor has prior experience from B2B SaaS sales & marketing and since 2019 he has been building up the investment pipeline and processes for Spring Capital.
    He is often the first point of contact for companies looking to raise funding as he is in charge of sourcing and managing the dealflow for both of our funds.

    LinkedIn

    Theodor Kaljo

    Investment Manager, Member of the Investment Committee

  • Priit is part of our Seed Fund’s Investment Committee. He is a seasoned entrepreneur with 20 years of leadership and innovation experience from the real estate and construction verticals.

    A member of ESTBAN, Priit has been an angel investor in 25+ startups including Bolt, Veriff, Fractory, Comodule, Bob W etc.

    LinkedIn

    Priit Uustulnd

    Member of the Investment Committee

  • Rändy is a part of our Growth Fund’s Investment Committee and specialises in investments into small cap equity and listed securities. Rändy is curating our listed securities positions. Rändy has an extensive background in financial and executive roles from banking and telecommunication sector.

    LinkedIn

    Rändy Hütsi

    Member of the Investment Committee

  • Prior to joining Spring Capital, Karl was a tax consultant at PwC and Gunvor. Karl is a part of the Growth Fund’s team and is involved in a wide spectrum of activities from the continuous monitoring of portfolio investments to helping portfolio companies with internal and external reporting.

    LinkedIn

    Karl Kangur

    Investment Analyst

Portfolio

  • All
  • Seed
  • Small cap

  • 🇱🇹 Amberlo is a cloud based case management software for growing law firms.

    Website | Linkedin | Crunchbase

    Team: 20 employees
    Funding: €1.8M funding

    Invested in Q4 2022.

  • 🇪🇪 Bolt is a transportation platform providing ride-hailing, micromobility, and food delivery services. As one of the biggest startup success stories from Estonia, they’re now operating in 300+ cities across the globe.

    Website | Linkedin | Crunchbase

    Team: 8,800 employees
    Funding: $2B funding

    Invested in Q2 2019.

  • 🇪🇪 Click & Grow has developed smartpots that take care of plants automatically with no external assistance needed. Their technologies allow growing of fresh, vitamin-packed food locally and sustainably.

    Website | Linkedin | Crunchbase

    Team: 38 employees
    Funding: : $17.9M

    Invested in Q3 2018.

  • 🇪🇪 Defendec develops word-class remote premises surveillance technology. Their technology helps stop international smuggling, illegal trafficking, and acts of sabotage every day making it the technology of choice among border guards.

    Website | Linkedin | Crunchbase

    Team: 17 employees
    Funding: undisclosed Series A

    Invested in Q2 2009.

  • 🇪🇪 EyeVi Technologies is a provider of road network intelligence with AI-powered on-demand mapping technologies. The mission is to make road infrastructure digitization sustainable, cost-efficient and fast.

    Website | Linkedin | Crunchbase

    Team: 34 employees
    Funding: €1.8M

    Invested in Q3 2021.

  • 🇪🇪 Fairown provides a subscription solution for physical products. The software enables companies to launch, manage, and transform into a subscription business.

    Website | Linkedin | Crunchbase

    Team: 39 employees
    Funding: : €5.3M

    Invested in Q1 2021. Article: why we invested in Fairown

  • 🇪🇪 FoodDocs is a Food Safety Management System that helps to create and monitor any kind of food safety procedure. Established by two female food safety experts Karin Repp and Katrin Liivat, the Estonian startup’s mission is to help serve safe food and make food safety rules easy to follow.

    Website | Linkedin | Crunchbase

    Team: 22 employees
    Funding: $2.7M

    Invested in Q1 2022.

  • 🇪🇪 Fractory provides a one-stop shop for on-demand manufacturing services such as metal fabrication. Fractory streamlines out-sourcing in the manufacturing industry through an automated system. From instant pricing to smart supplier distribution to transportation.

    Website | Linkedin | Crunchbase

    Team: 74 employees
    Funding: $15.7M

    Invested in Q3 2019.

  • 🇱🇹 Genus AI Growth Platform enables brands to generate and predict best performing ad creatives, perfect audience targeting and control social media ads via a single dashboard.

    Website | Linkedin | Crunchbase

    Team: 25 employees
    Funding: $11M

    Invested in Q3 2022.

  • 🇳🇴 LeadX lets everyone in an organization post hot leads. Their solution helps companies tap into the networks of their entire workforce and partners who are encouraged to make warm introductions to customers.

    Website | Linkedin

    Team: 8 employees

    Invested in Q2 2020. Article: why we invested in LeadX

  • 🇪🇪 MeetFrank is a consumer-driven job marketplace that is driven by user empowerment. It provides a safe space where everyone can be available on the
    job market on their own terms. MeetFrank helps people to find their dream job by bringing them relevant job offers with the help of AI.

    Website | Linkedin | Crunchbase

    Team: 14 employees
    Funding: €2.5M

    Invested in Q4 2021.

  • 🇪🇪 Monese is a digital banking option that provides mobile-only, multi-currency accounts in countries across the European Economic Area. Monese’s modern systems are based on secure cloud technologies and remove many of the barriers that legacy banking systems impose.

    Website | Linkedin | Crunchbase

    Team: 327 employees
    Funding: $201.2M

    Invested in Q4 2014.

  • 🇪🇪 Outfunnel is a sales centric marketing automation tool. It enables the connection of sales and marketing data deeply and easily through tools such as Copper, Pipedrive and HubSpot.

    Website | Linkedin | Crunchbase

    Team: 12 employees
    Funding: €2.1M

    Invested in Q3 2021.

  • 🇫🇮 Promo Republic is a social media marketing platform that helps enterprises, marketing agencies, and SMBs succeed on social media. The platform enables small businesses to create stunning social media posts in seconds with 100 000+ handcrafted templates, ideas and visuals.

    Website | Linkedin | Crunchbase

    Team: 62 employees
    Funding: €3.3M

    Invested in Q1 2017.

  • 🇪🇪 Punch Club is an award-winning beverage company that focuses on making mixologist-level cocktails in bottles and kegs. The innovative tap cocktail solution enables their partners to serve premium cocktails 5x faster with consistent quality while being 20x more environmentally sustainable.

    Website | Linkedin

    Team: 11 employees

    Invested in Q3 2022, with the Growth Fund.

  • 🇫🇮 Askem (formerly React & Share) is a feedback and content analytics SaaS compan. Their tool helps content creators and communications teams make sure their content is understood and engaging for the target audience.

    Website | Linkedin | Crunchbase

    Team: 14 employees
    Funding: €285K

    Invested in Q2 2020. Article: why we invested in React & Share

  • 🇪🇪 Ready Player Me (formerly Wolf3D) makes personal 3D avatars for games, fashion and VR/AR communication from a single selfie.

    Website | Linkedin | Crunchbase

    Team: 84 employees
    Funding: $72.6M

    Invested in Q2 2020. Article: why we invested in Wolf3D

  • 🇪🇪 Remato is a B2B SaaS for small and medium construction companies. The solution helps to digitize the construction industry and gives companies tools to more effectively manage crew, assets, and projects.

    Website | Linkedin | Crunchbase

    Team: 19 employees
    Funding: €2M

    Invested in Q2 2021.

  • 🇪🇪 Roofit.solar produces beautifully designed roofs that generate electricity. Their most popular product is standing seam integrated photovoltaic module that can be used as a replacement of standard roofing materials.

    Website | Linkedin | Crunchbase

    Team: 45 employees
    Funding: €16.8M

    Invested in Q3 2021.

  • 🇪🇪 Wisnio (formerly Teamscope) is an AI-driven talent analytics platform for executive search professionals. The platform combines big data analytics with scientific testing to analyse teams and help team leaders make better hiring decisions.

    Website | Linkedin | Crunchbase

    Team: 12 employees
    Funding: $2.2M

    Invested in Q2 2020. Article: why we invested in Teamscope

  • 🇪🇪 Thinnect – IoT Edge of Network Service Provider. Thinnect makes it simple to deploy and manage a wireless IoT network. Thinnect’s network technology strengths are its multi-service architecture, excellent self configuration capability and real time diagnostics.

    Website | Linkedin | Crunchbase

    Team: 12 employees
    Funding: $3.3M

    Invested in Q2 2009.

  • 🇱🇹 Turing College is an online-based data science & AI school tailored to level up young professionals. With income share agreements, students pay when they’re earning not when they’re learning.

    Website | Linkedin | Crunchbase

    Funding: €2.8M

    Invested in Q3 2021.

  • 🇩🇰 Uniify is developing no-code customizable onboarding software, for obtaining and structuring financial data on B2B and B2C end users. They offer a one-stop platform that makes it fast, easy and secure for financial companies to collect data on their customers.

    Website | Linkedin | Crunchbase

    Team: 22 employees
    Funding: €3M

    Invested in Q4 2022.

  • 🇪🇪 Fleetfox (formerly Upsteam) is pioneering a way towards more convenient and sustainable car care service. UpSteam is unlocking a multidimensional car service experience to all car owners by building a full stack mobile car maintenance and management platform to fill every car related need.

    Website | Linkedin | Crunchbase

    Team: 16 employees
    Funding: €2.7M

    Invested in Q1 2019.

  • 🇪🇪 Vok Bikes develops four wheel electric cargo bikes for couriers and businesses for last mile delivery. They also provide a full service rental for whole delivery fleets for businesses.

    Website | Linkedin | Crunchbase

    Team: 17 employees
    Funding: €6.4M

    Invested in Q1 2022.

  • 🇪🇪 Warren is a complete self-service cloud platform for regional infrastructure service providers. The company provides a turnkey software solution for data centres, web hosting companies or new ventures.

    Website | Linkedin | Crunchbase

    Team: 10 employees
    Funding: $2.2M

    Invested in Q2 2021.

  • 🇦🇷 Wisboo is an online platform that enables creators to make and sell their online courses, webinars and digital Products. The company is focused on the Spanish-speaking market.

    Website | Linkedin | Crunchbase

    Team: 24 employees

    Invested in Q2 2020.

  • 🇩🇰 Wonderway (formerly Wonderwerk) is providing a sales training SaaS tool proven to increase revenue. Their tool helps sales teams identify skill gaps, recommend training and measure impact on revenue.

    Website | Linkedin | Crunchbase

    Team: 18 employees
    Funding: €3.2M

    Invested in Q4 2021.

  • 🇸🇪 yayloh is a SaaS solution for e-commerce players, which digitalizes and automates the return process and unleashes the potential of data.

    Website | Linkedin | Crunchbase

    Team: 13 employees
    Funding: $452.1K

    Invested in Q2 2022.

  • EXITED

    🇪🇪 Clipman was a one click video creation tool for ecommerce stakeholders who need to make massive amounts of videos at low price and with high quality.

    Invested in Q2 2016.

  • EXITED

    🇪🇪 Deekit provided a collaborative whiteboard. Their service enabled remote teams to collaborate more effectively by bringing whiteboard sketching and planning experience to the digital devices at hand.

    Invested in Q2 2016.

  • EXITED

    🇩🇰 Tjommi is a B2C app helping customers get money back from price drops. The app makes it easy to collect all the purchase receipts in one place, and it automatically sends refunds to customers in case of price drops.

  • EXITED

    🇸🇪 Vembla operated an environmentally friendly grocery delivery app through a dark store approach in Stockholm, Sweden.

    Invested in Q1 2021.

  • EXITED

    🇪🇪 Visitret Displays developed an electronic paper material that enabled the manufacturing of zero-power, outdoor-stable and video-capable displays with paper-like readability.

    Invested in Q3 2010.

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