Estonian investment platform Grünfin has raised €2M

Estonian investment platform allowing its users to invest in sustainable funds Grünfin has raised €2M from existing investors Estonian funds Specialist VC and Lemonade Stand, and, also, from new investor Estonian fund Honey Badger Capital launched by founders of Estonian unicorn Pipedrive Ragnar Sass and Martin Tajur.

Existing investor Norwegian venture capital firm Norrsken VC and new investor fund UK venture capital firm Sie Ventures (which only invests in startups with female founders) also participated in this round.

Besides, the founders of Grünfin Triin Hertmann, Karin Nemec and Alvar Lumberg backed this round of investments.

The new financing allows adding to company products an investment plan for companies. With this new investment plan companies employers will be able to save and invest money for their employees. 

Grünfin is an investment platform founded in 2020 that focuses on “green” investments (climate change, companies with female board members, and health). 

Grünfin announced launching its platform in October 2021, and back then it received about €2M from Specialist VC, Lemonade Stand, Norrsken VC, and Estonian fund Superangel, which focuses on early-stage investment in the Baltics and Nordics.

Specialist VC is a venture capital fund supporting companies from the Baltic region, Finland and Ukraine. Usually, it starts financing from €250K. The fund was established in Tallinn in 2017. 

A venture fund Lemonade Stand was founded in Tallinn in 2019. It invests in early-stage tech companies from the Baltic and East European regions. The amount of financing startups varies from €25K to €300K. The managing partner is Siim Teller.

HoneyBadger is an Estonian fund, investing between €50K to €150K. 

The company was established by the founders of a cloud-based SaaS company Pipedrive, which became an Estonian unicorn in November 2020, Ragnar Sass and Martin Tajur.