Estonian Startup Enty Gains €700,000 in Seed Funding for Financial SaaS

Tallinn-based fintech company Enty has successfully secured €700,000 in its latest seed funding round. This significant investment is poised to accelerate Enty's growth and expand its services across Europe. The company specializes in offering a robust suite of financial and invoice management solutions, as well as contract development and management services, all tailored to the needs of small and medium-sized enterprises (SMEs). Enty’s subscription-based model ensures that its offerings remain compliant with the complex regulatory landscapes of the EU, EEA, and UK.

In just three years, Enty has made notable advancements in the fintech sector by successfully onboarding over 2,500 European small and medium-sized enterprises (SMEs). This rapid expansion has enabled the company to achieve an impressive annual recurring revenue (ARR) of €1 million as of 2023. Enty’s growth reflects its effective solution in providing comprehensive financial and invoice management, as well as contract development services tailored to the regulatory requirements of the EU, EEA, and UK markets.

Building on this strong performance, Enty is now poised to further cement its position as the preferred platform for back-office operations throughout Europe. The recent €700,000 seed funding round highlights the growing investor confidence in Enty’s ability to revolutionize the back-office operations market for European SMEs. This confidence is driven by Enty’s proven track record of streamlining essential administrative tasks—such as invoicing, contract management, and cash flow modeling—through its all-in-one platform.

The fresh capital injection is set to accelerate Enty’s growth trajectory, allowing the company to enhance its product offerings and expand its reach into additional European markets. By focusing on refining its platform and broadening its market presence, Enty aims to become the industry standard for back-office operations, further simplifying and optimizing these critical functions for SMEs across the continent. The funding also signals a broader recognition of Enty’s potential to drive significant efficiencies and improvements in the back-office processes for European businesses.

The funding round attracted notable investors including TMT Investments, a tech-focused investment firm listed on the London Stock Exchange’s Alternative Investment Market (AIM), Trado Capital, a Finnish investment vehicle, and a group of angel investors. These contributions highlight the widespread belief in Enty’s potential to drive significant improvements in the efficiency and effectiveness of back-office operations for SMEs.

Kirill Zheleznov, CEO and co-founder of Enty, emphasized the company’s commitment to addressing the needs of busy entrepreneurs who are often overwhelmed by essential yet time-consuming back-office tasks. Enty’s strategic focus on achieving product-market fit from the start has enabled it to develop an all-in-one platform that integrates invoicing, contract management, and cash flow modeling. This integrated approach not only simplifies operations but also enhances overall efficiency, driving the company's impressive growth. Zheleznov expressed enthusiasm about the funding’s success, seeing it as a testament to Enty’s innovative approach and its potential to redefine the back-office operations landscape.

Alexander Selegenev, Executive Director of TMT Investments Plc, praised Enty for its clear success in fulfilling a significant market demand. He highlighted the company's remarkable resilience and ability to execute effectively in a rapidly growing environment. With a substantial client base of over 2,500 SMEs, Enty has proven its capability to meet the needs of European entrepreneurs by delivering comprehensive and efficient back-office solutions.

The recent funding round is expected to accelerate Enty’s growth trajectory, refine its product offerings, and support its expansion into additional European markets. Selegenev expressed strong enthusiasm about Enty’s future prospects, noting that the company is well-positioned as a leading option for SMEs seeking to optimize their back-office operations. The investment will enable Enty to further enhance its platform’s capabilities and extend its reach, reinforcing its role as a crucial tool for SMEs aiming to improve their operational efficiency and save valuable time.