Value of Estonia's 30 most expensive tech companies has grown by 35% in two years
The combined value of Estonia's 30 most valuable technology companies has grown by 35.2% to €27.7B in just two years, according to the TopTech 2025 report.
Estonia-founded and London-based money transfer company Wise tops the list of most valuable companies with a valuation of €12.5B. The taxi and delivery platform Bolt took second place with a valuation of €8.9B, and customer relationship management software provider Pipedrive rounded out the top three with a valuation of €2.2B.
Some industries are growing faster than the market average. DefenceTech leads the way with an impressive 106% growth compared to last year, followed by FinTech with 97% growth and B2B SaaS with 48% growth.
The fastest-growing companies:
- Blackwall (formerly Botguard), which specializes in cybersecurity, showed the highest growth rate at 295%.
- Threod, a defense technology company, grew by 257%.
- Pactum, an artificial intelligence startup specializing in autonomous commercial negotiations, grew by 222%.
Thanks to e-residency and startup visa programs, foreign founders continue to develop their companies in Estonia. Among the successful companies founded by foreigners listed in the ranking are Verge Motorcycles, Glia, and Modash.
