Illar Kaasik, Managing Partner at Prudentia Advisory, and Sten Tamkivi, Member of the Board of the Estonian Founders Society, discussed how to evaluate startups in a podcast called Kiirendi. Kiirendi is Express Group’s new serial podcast, which focuses on Estonian growth companies and is led by Tanel Saarmann, Editor-in-Chief of Ärileht.
Prudentia has compiled the TOP 101 Estonia’s most valuable enterprises ranking in cooperation with Nasdaq Tallinn since 2019. In Latvia, Prudentia has compiled the ranking in cooperation with Nasdaq Riga for 15 years.
The success story of Estonian startups began with Skype, which was founded in 2003 and sold to Microsoft in 2011. Currently there are over 1,000 growth companies in Estonia, and they employ more than 6,000 people. We are all familiar with the ongoing Fourth Industrial Revolution, which has led to the rapid development of companies in the technology sector, which in turn affects virtually all sectors of the economy. Bolt, Wise, Veriff, Scoro, Milrem, Starship, Monese – we’ve all heard about these companies. Wise is on course to launch an IPO in Q2 2021 at a valuation of 5-10 billion euros.
Taking into account all of the above, Prudentia has set itself a goal of compiling a ranking of the most valuable growth companies in Estonia in cooperation with the Estonian Founders Society and Nasdaq Tallinn. Given the dynamic development of startups, this is not an easy task, but in autumn we will already be able to report on how far we have come.