Sifted, the Financial Times’ portal covering European start-ups and venture capital markets, selected six Estonian investors and entrepreneurs among the 100 most influential women in the technology sector in Europe.
The 100 most influential women were selected from more than 2,500 nominees across Europe. The Estonian honorees were Kärt Siilats, investor at venture capital fund Superangel; Hedi Mardisoo, founder and CEO of insurance startup Cachet; Sille Pettai, CEO of SmartCap; Anna-Liisa Palatu, founder and CEO of Woola, Triin Linamägi, co-founder of London-based venture capital fund Sie Ventures, and investor Triin Hertmann.
Only a few per cent of venture capital funding in Europe goes to start-ups founded by women. “This is disproportionate considering how resilient, consistent and systematic women are in building and managing companies. Sifted’s list highlights exceptional and successful women among entrepreneurs, technology leaders and investors. I hope that in a few years we’ll be able to say that funding has become much more equal,” said Triin Hertmann.
Startups founded by women receive ten times less capital than those founded by men. According to Kärt Siilats, this is a market failure that state investor SmartCap could play a crucial role in addressing, just as it has done in defence and green investments. “I want to thank SmartCap for being a cornerstone investor in Superangel’s fund, which allows us to continue our more than ten years of work investing in European tech companies such as Wise and Veriff, as well as in exited unicorns like iZettle and Tink, and in Seedcamp, Europe’s leading early-stage fund led by female investor Reshma Sohoni. I would also like to thank Kaidi Ruusalepp, who was on the nomination committee, and her Estonian women founders’ group for their support,” she said.
Triin Linamägi added that it is wonderful to see female entrepreneurs and investors across Europe being recognised for shaping the future of technology and innovation. “Such visibility helps inspire the next generation of female leaders in the technology sector,” she added.
Being included in the list is a recognition for the entire SmartCap team and confirmation that Estonia remains among Europe’s leaders in the tech sector. “Estonia has systematically and consistently built its technology startup ecosystem and venture capital market over the long term. The success stories of our tech companies have enabled Estonian women to become industry leaders in Europe. Estonia was also one of the first countries in Europe to recognise the strategic need to develop the defence industry and took concrete action by creating the Defence Fund, enabling the emergence of venture funds focused on defence and security technologies in Europe. This has made us visible in the European technology sector,” said Sille Pettai, CEO of SmartCap.
Entrepreneurs Anna-Liisa Palatu and Hedi Mardisoo emphasised that Sifted’s recognition is a great help and validation for their work so far. “When fighting against plastic waste, our biggest challenge is being a small company from a distant Estonia that has to prove its credibility to large Western European corporations. Getting into lists like this is not a goal in itself but a way to add a mark of quality to our work,” said Palatu.
“This is a great recognition and honour for the entire Cachet team. We are doing something important: quietly and consistently making the platform economy safer through insurance across Europe,” added Mardisoo.
Sifted’s Top 100 Most Influential Women were announced at the Sifted Summit, held on October 8-9.