28.2.2023 | Estonia
Turnover of Estonian startups increased by 49% in 2022
Text Mark Taylor
Photo Petri Saraste

Startup Estonia has announced that in 2022, Estonian startups recorded a turnover of 2.1 billion euros. This was an increase of 49 per cent on the previous year.
“Last year, the Estonian startup sector continued to grow. But in the third quarter, it was clear that efficiency and business sustainability were becoming more important than turnover numbers. This demonstrates the maturity and experience of our founders in managing companies and the will to prepare for possible setbacks in advance,” said Eve Peeterson, the head of Startup Estonia.
According to data released by the Estonian Tax and Customs Board (MTA), in 2022, Estonian Startups generated 2.1 Billion euros of turnover in 2022, this was 49 per cent more than in 2021. As a result, startups paid 185 million euros in employment taxes, which was 47 per cent than the previous year. In addition, startups received 1.3 billion euros in funding in 2022, which was a 40 per cent increase, and the first time this figure had exceeded one billion euros.
Transport and food delivery startup Bolt recorded the highest turnover of all startups with 1.1 billion euros, followed by Veriff with €71 million, and Swappie with €58.4.
Source ERR
To learn more about this and similar topics
Bolt
Funding
Startup
Startup Estonia
Startups
Swappie
Turnover
Veriff
4.7.2025 | Estonia
At the Gates of East and West
High up on the riverbanks, the city of Narva is guarded by the magnificent Hermann Castle, and on the … Read more
11.6.2025 | Estonia
Fly from Tallinn to Madeira
airBaltic will launch direct flights between Tallinn and Madeira in October. The new route will operate every Sunday from … Read more
31.5.2025 | Estonia
Life in Estonia: A Complete Guide
What’s the average shelf-life for an Estonian? How happy are they? How much do they drink, and how safe … Read more
24.5.2025 | Estonia
Easter Affected Spring Tourism Numbers
The statistics published by Statistics Estonia on the number of tourists in March were commented on in several newspapers. … Read more
22.5.2025 | Estonia
This Is What’s up in Estonia
Estonian population decreased According to Statistics Estonia, on 1 January this year, 1,369,995 people lived in Estonia, which means … Read more
14.5.2025 | Restaurants
New Car-Free Pedestrian Zone in Kalamaja
The Krulli Quarter (Krulli kvartal) is located in the Kalamaja district of Northern Tallinn. In 1899, the German industrialist … Read more
13.5.2025 | Estonia
Defense tax to be abolished in Estonia, replaced by other tax increases
The Estonian government is canceling the 2% defence tax, which was scheduled to come into effect temporarily from the … Read more
10.5.2025 | Estonia
Simulation Involving Sirens and Emergency Alerts on Wednesday
Sirens will howl and emergency text messages will be distributed throughout Estonia on Wednesday, 14 May in conjunction with … Read more