A region bustling with tech held back by red tape

Published: October 6, 2020

Central and Eastern Europe is ripe for a fintech boom with internal interest and external investment lining up, but a mish-mash of regulatory standards makes it difficult for plucky start-up companies to implement region-spanning plans.

In the middle of August, Estonian real estate crowdfunding company EvoEstate announced it had received €140,000 in pre-see funding to close its €340,000 pre-see round. 

Money for the company came regionally and from outside Europe. Lithuanian start up accelerator Startup Wise Guys was joined by a Hong Kong investment fund and angel investors from France and the Baltics. 

“With the newly-raised capital,” said Gustas Germanavicius, chief executive officer of EvoEstate, “we are planning to go beyond Europe and start providing services on a global scale.”

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