Karma Ventures, BlackFin Capital Partners and Portage Ventures invest in Estonian fintech company TUUM

Ellex in Estonia advised venture capital funds Karma Ventures, BlackFin Capital Partners and Portage Ventures in the EUR 25 million Series B financing round of the Estonian fintech company TUUM, in which CommerzVentures is the lead investor.

The capital will allow the company to target new territories in the DACH region, Southern Europe, and the Middle East.

TUUM was founded in 2019 by a group of Estonian financial IT specialists who offer modular solutions to the banking and financial services sector, which can be used to accelerate the delivery of new services to customers.

Karma Ventures, BlackFin Capital Partners and Portage Ventures were advised on the investment by Partners Ermo Kosk and Antti Perli.