COBALT advised Modularbank on raising €4 million funding

COBALT advised Estonian fintech company Modularbank on raising €4 million of late seed funding. The round was led by Karma Ventures and BlackFin Capital Partners, with additional support from Plug and Play Ventures, Siena Capital and angel investor Ott Kaukver. The funding allows Modularbank to expand its operations in Europe and pave the way for wider global expansion.

Modularbank, founded in 2019 in Estonia, is a next-generation core banking platform. It underpins the aims of both regulated banks and other businesses in meeting customer needs and aspirations by enabling the rapid rollout of new financial services.

Our work comprised advising Modularbank and its founders on drafting and negotiating the investment documents and advising on other matters. The client was advised by Specialist Counsel Ott Aava and Associate Kerli Paasoja.