Estonia, Financial Services, Latvia, Markets and Companies

The campaign runs until June 30 of this year, the possible size of investment per investor is from 250 to 150,000 euros and the total ownership stake on offer is from 7.89 percent to 14.63 percent. The minimum financing target for the company is 150,000 euros, it appears from the presentation made available by the company on Fundwise. 

The nominal value of registered share capital at the beginning of the campaign was 2,500 euros. An additional issue of shares conducted recently, which would bring the size of registered share capital to 7,000 euros, is currently being registered. The company is currently valued at 1.75 mln euros. If the campaign proves a success, the value might rise to 1.9-2.05 mln euros. 

The ESTIE brand has been registered in Europe and in Hong Kong and products of the brand have been sold in the UK, Finland and the United States, in addition to Estonia.

The company aims to use the money raised in the crowdfunding campaign to immediately establish foothold in more markets.

"We see Sweden, Norway and Hong Kong as the strategic points, where we are working via sales agents already," Estie CEO Samuel Vard said. 

The capital to be raised via Fundwise is necessary to refresh and expand the product offering and develop a new collection.

"If we wish to sell our brand successfully abroad, we must replenish our inventories, raise marketing volumes, involve specialists for entry into foreign markets and develop an interactive online store," Board Member Hains Tooming said.

According to the founders, about 20% of demand in the luxury segment currently is not met because the big fashion houses of France and Italy base their designs primarily on the weather conditions of southern Europe and Renaissance. 

Asia meanwhile is increasingly conscious of Nordic design and quality and there is growing interest in products featuring Nordic design in those markets, the founders of Estie say.

Indication of interest had been registered to the amount of 4,000 euros, representing 3% of the target, in the Estie campaign by Wednesday.