20
Sat, Apr
44 New Articles

Cobalt Advises Modularbank on EUR 4 Million Funding

Cobalt Advises Modularbank on EUR 4 Million Funding

Estonia
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Cobalt has advised Estonian fintech company Modularbank on raising EUR 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. 

Cobalt describes Modularbank, which was founded in 2019 in Estonia, as "a next-generation core banking platform." According to the firm, "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.”

Cobalt’s team included Counsel Ott Aava and Associate Kerli Paasoja.

Cobalt did not reply to our inquiry on the matter.

Editor’s note: After this article was published, Ellex announced that it had advised Karma Ventures and BlackFin Capital partners on the transaction. The firm’s team included Counsel Antti Perli, Senior Associate Hanna Pahk, and Associate Merlin Liis.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.